Next, they got out of the building again.

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.

Many of our clients are AfricanAmerican.

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

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?

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 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.

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

The answer is simple math.

And the next thing they were looking at was their target market.

But because I had to cut lawns all summer for all of our neighbors and get paid to do that,

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.

I leave this room, and it's over.

It's not.

X number of customers equals X number of dollars...

Apple is one of the few, truly cares.

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.

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.

X number of prospects equals X number of customers.

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.

Let's take a look at a customer acquisition process that reaches 100 people a day and activates 10 .

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

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

And after two days, you have activated 20 customers.

When I got there, we had zero happy customers.

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

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...

It's a big idea.

That's your job as the facilitator and coach.

We've got customers.

Who do you do that for?