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

Cross sell, well that's also kind of simple.

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.

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

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.

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

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

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,

So just as an side keep going, guys, this is good.

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

How much did it cost to acquire a customer? How much did the campaign cost?

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

When you bring in the next new customers, banks now think that's a popular strategy, and this referral program just helps your customers, hopefully, who are satisfied sell more of your product for you.

In an existing market, I will likely know something no one knows.

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.

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

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

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.

Earlier we looked at the 4 phases of the entire customer development process, but now let's take a look at the customer discovery process itself and order its phases.

They attract customers by offering high quality goods.

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.

So one of the interesting equations for every startup is that

That was the customer acquisition cost, CAC, here.

As we'll see, customer relationships start with get.

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

Well, there are customers and there are competitors.

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

This test between problem and solution and your features and customers is actually sometimes called product market fit.

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.