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.

Remember we talked earlier about pains and gains for this customer segment.

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.

And when you finally, finally think you do have something that matches customer needs, you get to the next step, which is customer validation.

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

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.

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.

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.

Cause we now know that functional organizations actually are the wrong way to set up sales marketing and bus dev on day 1.

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.

And so much like thinking through pain, you'll start with a set of hypothesis, but the only way to understand this is outside the building in front of lots of customers.

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.

We have recently accepted a client who is VampireAmerican.

A tech company's one of my clients.

Most of my clients are married.