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

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

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?

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

What are the costs of jerseys and warehousing and shipping and cleaning,

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

Well, remember this was to acquire a customer.

Apple is one of the few, truly cares.

I mean how do they hear of our products, how do they know about you, and as we'll see later one of the interesting things is there are some customers that are users like in Google

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.

What's most important to us when we make a video is what the customer sees.

Next, they got out of the building again.

Market segmentation.

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

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.

Instead of pricing based on cost,

Many companies have huge databases of customer information.

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.

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.

This last step is growing customers for the web mobile channels.

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.

So, while the goal in value prop is to figure out the MVP, yes, we il see later the goal in customer segments is to figure out who and what the archetype of the customer is.

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?

Defense department's largest contractor.

He's not the client.

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.

Get is how you actually acquire customers and get them to purchase your product.

And when you hear the phrase product market fit, just simply visualize the canvass and go,

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

And number 4. Access to customers.

As shown above, it is possible to obtain ample profit and customers with truly simple know how that anyone can do!

It's exactly the same idea we might want to offer loyalty programs, contests and events, blogs, RSS and email, or social media all designed to engage customers.

We will take it to the potential customers.

What we now know is that the founders need to run what's called the customer development team.

Here's your client list.

I have told you how to treat customers.

He has managed to secure several accounts.