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

So in the last lecture, you remember the business model canvas, all the 9 components of a startup.

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

What are all the pieces? Well let's take a look.

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

Who are your key partners and suppliers?

Another great example is Fidelity.

They need to understand the external environment and they need to come in.

I can't emphasize enough that the business model canvas is just a start.

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

Wouldn't it be great if you could get your hands on some of it somehow?

You could charge twice the current rate for what I provide, and your customers would pay it.

And if not, just don't give up and say, Well, it didn't.

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.

But you know what? I might know something that my competitors don't know.

Show them the grumpy employees.

Many companies have huge databases of customer information.

You cater an event where the cost to you was 200

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.

Potential customers have been listed.

Just as a reminder, what the teams will be starting with in Week 1 is filling out the business model canvas and getting out of the building and testing their hypotheses about the value proposition, customer segments, and channel.

So let's follow our Jersey Square team and see what they did with customer segments.

You're all familiar with the business model canvas.

We care how we make our profit.

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.

One of the really interesting developments about this class is this whole customer development process.

They could tell you that I want bigger, faster, cheaper status quo.

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.

Next, they got out of the building again.

Here's your client list.

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

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...

It's a big idea.

That's your job as the facilitator and coach.