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

Well, 0.50 10,000, that cost me 5,000, but the goal isn't to just have people visit, the goal is to get them to the end of the funnel and at the end of the funnel,

In a physical channel, this requires lots of interviews, demos, and prototypes and lots of eyeball of contacts.

Where on the other extreme, the complexity of selling toner over the web. Incredibly simple.

That's a gentlemen's club. I told you about it. The Singapore clients come to the city, they love that crap.

I want them to either pay for the product or sign up for something and become a user.

In a web or mobile product, instead of building a physical prototype, you need to have a low fidelity app or website available for customer feedback.

Well, remember this was to acquire a customer.

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

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

But just understand that in new markets of course you don't get out and ask people what features they need.

Well getting customers is just like it sounds.

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?

Seems intuitively obvious but what you want to make sure is the amount of money you're collecting over here is bigger than the customer acquisition cost to remember the amount of money you're spending from here to here.

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

But a consultant told us we need to manage our clients and not service them.

Many companies have huge databases of customer information.

Another example of a customer segment was someone making new kite boarding equipment.

But for you to be a successful company and actually thinking about how much you could spend on them over here, you need to understand can I get them to spend more and more over time and how to keep them

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.

And one of the things we need to understand is what's the archetype or the persona of our customers that we're actually wanting to get and so one of the things that's kind of hard for startups is to realize that getting customers isn't some abstract idea you really need to understand who your customers are and this is not just thinking about selling to consumers.

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

There might be a real business here and it's even bigger than we thought because it includes females and so one of the things we pointed out to them is it looked like they had multiple customer segments.

I have a client coming in. That's all he drinks.

Apple is one of the few, truly cares.

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.

I want to use and on the web, I might be paying Google forever.

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.

Next, they got out of the building again.

Here's your client list.

Even though on day 1 you're not thinking about keeping customers because you're desperately worried about getting them, just understand the next thing you're going to be doing is worrying about how to keep your most valuable customer.

Well, hopefully it gets kind of fun because the real metric the way we kind of measure things, the language we use on the web is customer acquisition cost.

At the end of the day, not only do you know about the pains and gains of these customers, but you specifically know who they are.

But for real change, we need feminine energy in the management of the world.

Why do we need this?

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.

Let's go to month two

Let's do an exercise and see what it feels like and how does it work to get an activated customer and how much it cost.

I need a volunteer from the audience.

All of these activities are designed to feed the sales model.

You get 400 from the customer in the previous month.