Two of his portfolio managers had taken on a new client.

Month two, you get 400 from the customer in the previous month

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

Once I understand who my archetypes or persona is, the next thing I want to figure out is how do I get them in to this funnel.

I love it.

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?

No, take it.

They wouldn't pay that to somebody else.

Rex, take over will you.

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

You always pull.

For new customers, the store offers a one time discount of 3.

Stands in a hall.

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

I never was.

O.K. You guys got yourselves a ship.

Yeah. Sure, it's a deal.

But okay, okay, I'll take it.

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

But they're asking us a first time, a new customer.

You know why I do this.

They attract customers by offering high quality goods.

Since you're my only customer today, it would be my pleasure.

Many companies have huge databases of customer information.

Consider it a wager that you will.

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.

Took a risk with me.

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

There was a time when my confidence was really low.

Because you'll ask So, I explained it to you like this. How could I have said it better?

Picking up a package, delivering it to our client.

If you have world's most perfect business model, investors would love to see this number much bigger than this number and so what you want to look for is a well balanced model that takes into account how much you need to acquire customers but how much ultimately you'll extract from them over the lifetime.

If he doesn't accept the job, some other person will.

If he doesn't accept the job, someone else will.

If he doesn't accept the job, somebody else will.

Then as we talked about earlier, how much will it cost to acquire a customer?

Apple is one of the few, truly cares.

I worked in mental health services,

I don't have a degree. You can get one with 20,000.

Will ya do me that little favor?