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

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

You know, revenue stream.

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

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.

You can connect with stakeholders like the manufacturers and talk with them face to face and leverage their

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

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?

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,

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.

Many companies have huge databases of customer information.

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

Credit companies send their customers monthly bills.

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.

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

And again, are you getting a viral loop and referral loop from happy and satisfied customers telling others word of mouth and so this is a balancing game, and for first time entrepreneurs who are focused here, it's really important to think about customer acquisition cost and a lifetime value.

Why would they do this? 'Cos they were going to lose 31 a year?

Apple is one of the few, truly cares.

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

Cross sell, well that's also kind of simple.

If the quality of your product meets with our customer's approval, we will place regular orders.

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

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

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.

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.

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.

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

Well, remember this was to acquire a customer.

So just as an side keep going, guys, this is good.

And, if we look at their next rev, the things in red are the changes.

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.

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

Many of our clients are AfricanAmerican.

We have recently accepted a client who is VampireAmerican.

A tech company's one of my clients.

Most of my clients are married.