We care how we make our profit.

Let's go to month two

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.

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.

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?

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

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,

That's your job as the facilitator and coach.

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.

But because I had to cut lawns all summer for all of our neighbors and get paid to do that,

He found out emerson's client was dubaku.

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.

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

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

He cheated his clients out of a lot of money.

Now let's go to month 3.

What am I going to look at?

I remember when Gottfrid said

It doesn't really work in this context.

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.

look happened.

Month two, you get 400 from the customer in the previous month

Why do you want to think about keeping customers is that customers are a lot more expensive to acquire over here than they are to keep.

And we found after much research that actually not much research, quite simple research that the counterfeit customer was not our customer.

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

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

It's a big idea.

Apple is one of the few, truly cares.

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 and see what they did with customer segments.

That's where Lucas comes in.

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

Another great example is Fidelity.