We care how we make our profit.

long term, and what are you going to do to grow them in the next couple of years as we.

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

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

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.

I have told you how to treat customers.

It's a big idea.

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

And then grow is a neat trick that smart companies do is that they understand that it's a lot more expensive to get customers than to keep them and grow them.

And we found after much research that actually not much research, quite simple research that the counterfeit customer was not our customer.

And number 4. Access to customers.

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?

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.

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.

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

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.

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.

How we do that is the first thing we need to do is make sure our existing customers we've just gotten don't go away, and so if you're in business long enough, you'll start thinking about how to keep customers.

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.

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

Now let's go to month 3.

But the next step is you get out of the building.

Apple is one of the few, truly cares.

The non evil record label that is fair to artists and customers alike

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.

Why do you want to think about keeping customers is that customers are a lot more expensive to acquire over here than they are to keep.

Next, they got out of the building again.

Here's your client list.

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

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.

Let's go to month two

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.

Because no one, and that was a constant problem...

That's your job as the facilitator and coach.

We've got customers.

Who do you do that for?