He's an advisor to the city planning commission.

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.

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.

That's where Lucas comes in.

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

Now, this makes sense when you're in a large company releasing version 2.0, 3.0 and 4.0 because you kind of have a feeling of who the customers are and what they need, so a product manager can be pretty accurate about

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.

And I said as a joke as a joke, I said,

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.

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.

Oh, there's so much to plan! The guest list! The dress!

The good news is that we now know that business plans and financial forecast first are just as silly as it was in the Soviet Union.

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.

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.

What's the sum of all the revenue from day 1 purchase, so you're keeping them through all the grow activities you're undertaking.

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

This last step is growing customers for the web mobile channels.

Let's go to month two

JU That's a good question, and we ask ourselves that every day.

But they're asking us a first time, a new customer.

Many of our clients are AfricanAmerican.