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

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

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.

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

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

Apple is one of the few, truly cares.

In a physical channel, this requires lots of interviews, demos, and prototypes and lots of eyeball of contacts.

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.

Where on the other extreme, the complexity of selling toner over the web. Incredibly simple.

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.

Next, they got out of the building again.

Here's your client list.

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,

In a web or mobile product, instead of building a physical prototype, you need to have a low fidelity app or website available for customer feedback.

Even though on day 1 you're not thinking about keeping customers because you're desperately worried about getting them, just understand the next thing you're going to be doing is worrying about how to keep your most valuable customer.

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

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

Well, remember this was to acquire a customer.

All of these activities are designed to feed the sales model.

Seems intuitively obvious but what you want to make sure is the amount of money you're collecting over here is bigger than the customer acquisition cost to remember the amount of money you're spending from here to here.

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.

We've got customers.

Who do you do that for?

Defense department's largest contractor.

He's not the client.

So let's follow our Jersey Square team down and see what they've done for customer relationships.

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.

And number 4. Access to customers.

So one of the interesting equations for every startup is that