Existing markets well, the customers well, they're know. We know who they are. They exist.

At clone market, the customers are possibly known because you copied an existing market

But the next step is you get out of the building.

Show them the grumpy employees.

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

It assumes you will be going through this multiple times.

The goal was not to use this process to find all the bugs though they might come up.

Unexpectedly short lived code, that's pretty bad. Legacy code is actually successful, right?

A red light shows the electricity is out of phase

So in month 1 you cater an even where the cost to you was 100

To correct an out of phase machine, perform the following steps

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

Oh, I have a great Rolodex, great set of contacts.

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.

And what do great customers do, great feeling customers?

Tektronix's new software perfectly responds to the needs of customers using logic analysers.

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?

Those are entrepreneurial traits that you want to be nurturing.

The next piece about customer development to understand is what is it you're actually doing outside the building?

Now, switch on the Machine's primary Breaker and move to the Control Panel and press POWER ON

It turns out that the answer is pretty specific.

And product market fit just simply says what is the match between what you are building and what customers need and want, and who are those customers.

Much like ranking ranking pain, I want you to think about ranking gains.

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

Customer service meant actually talking to the people who came into your shop.

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

The value proposition says, Hey, it's not about your ideal product, it's about solving a problem or a need for a customer.

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.

But a consultant told us we need to manage our clients and not service them.

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

And the fourth phase in customer discovery is you verify your pivot.

They give better service not worse, but better.

The next thing is revenue streams.

So there's another phrase called beautiful code and that's what we want you to build beautiful code.

Apple is one of the few, truly cares.

So if you happen to be a man, Ashley over there will suck your dick.

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.

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.