Credit companies send their customers monthly bills.

Next, they got out of the building again.

I filled out an insurance claim.

Let's take a look at the next step in searching for a business model, and that's customer validation.

And in value proposition, the goal of this is to find out that minimum viable product.

What are the costs of jerseys and warehousing and shipping and cleaning,

You know, revenue stream.

By now, you're intimately familiar with the business model canvass.

In customer relationships all the get keep grow metrics, some of which we talked about, some of which you'll discover, what were the customer acquistion costs?

So it's very important to them to track piracy exactly because of this, and the people who are buying, the pirates, are not their customers anyway, because their customers want the real deal.

That's how much a regular customer would have to pay.

So on day one, these were their initial hypothesis coming into the class.

Now if you remember we started here on the left. We didn't earn and paid media.

And regarding your request,ms.Hewes,to expedite mr.Malina's deposition

And when you finally, finally think you do have something that matches customer needs, you get to the next step, which is customer validation.

Many companies have huge databases of customer information.

Now we finally come to the last part of the business model canvas.

Instead of pricing based on cost,

You cater an event where the cost to you was 200

I have no idea where my husband is.

Don't.

So in our last lectures we talked about value proposition, customer segments, distribution channels, customer relationships get, keeping and growing customers.

The pivot was a term that my best student ever Eric Reese coined when he noticed the arrow between customer validation and customer discovery, and he actually gave it a name, which I think is incredibly accurate.

Apple is one of the few, truly cares.

And if I don't have that, then the good news about the customer development process is it allows us to keep searching without going out of business and so what you'll find is we'll be iterating back and forth doing things called pivots and iterations as we kind of discover what customers really want versus what we think we're building for them.

Billing Periods

How much are they asking for?

Bills?

And in this class, we're going to be talking about the first two steps, customer discovery, customer validation, the pivots that connect them, and then a few that are lucky.

Billing start date

As was simulated, the value proposition includes all the features of your product but also the pains and gains you're solving for the customer segment and that's where the market goes.

Customers can name the market. Customers want or need better performance.

Market segmentation.

So in the last lecture, you remember the business model canvas, all the 9 components of a startup.

They could tell you that I want bigger, faster, cheaper status quo.

Here's your client list.

This is what I called the you should be so lucky to have this problem part of the funnel, and that's how you grow the customers you have.

Requisition forms.

Was working on.

Months per billing period

Phil, there's another credit card charge.

Let's go to month two

So now they're looking at industrial enzyme manufacturers, their key activities are R amp D, and production support is their next change.

He claimed on the insurance after his car accident.

JU That's a good question, and we ask ourselves that every day.