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

I want them to either pay for the product or sign up for something and become a user.

Well getting customers is just like it sounds.

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

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

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

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

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?

Does it just simply outperform current solutions that delighted customer.

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

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,

I want to use and on the web, I might be paying Google forever.

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.

Well, hopefully it gets kind of fun because the real metric the way we kind of measure things, the language we use on the web is customer acquisition cost.

If they read newspapers, tech journals, or listen to radio or television, that is I want to match my demand creation activities to what I know about my archetype.

An optional piece of software is something called launchpad central at www.launchpadcentral.com.

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

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.

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.

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

It's a big idea.

Apple is one of the few, truly cares.

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.

And on the left hand side, kind of the backstage of the business model canvas, their activities we're going to be rental tracking, shipping, dry cleaning, marketing and customer service.

So, can you look at this customer data set and automatically discover market segments and automatically group your customers into different market segments so that you can automatically and more efficiently sell or market your different market segments together?

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

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

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

We will take it to the potential customers.

Next, they got out of the building again.

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

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.

And we said, Well, there's another option.