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.

By now, you're intimately familiar with the business model canvass.

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

But you know what? I might know something that my competitors don't know.

Fill out the business model canvass.

And in value proposition, the goal of this is to find out that minimum viable product.

Cold calls are the primary function of the telemarketing department.

I have told you how to treat customers.

Two of his portfolio managers had taken on a new client.

You cater an event where the cost to you was 200

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

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

How do you know which one to use?

Oh, God. One of these days I'm gonna just sort through all the Dad stuff.

And this is a common mistake.

All these right now are hypothesis, but pretty good starting points.

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?

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

The non evil record label that is fair to artists and customers alike

Many companies have huge databases of customer information.

So let's follow our Jersey Square team and see what they did with customer segments.

So let's follow our Jersey Square team down and see what they've done for customer relationships.

Another key component of understanding customers is understanding customer gains, which is a fancy way for saying what are the benefits that customers expect, or desires, so besides the jobs they want to get done what do they want to gain by using your product or service?

Instead of pricing based on cost,

I have no idea where my husband is.

Is it about time saved? New efficiency created?

Did he ever mention any particular client being unhappy?

So, while the goal in value prop is to figure out the MVP, yes, we il see later the goal in customer segments is to figure out who and what the archetype of the customer is.

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

Apple is one of the few, truly cares.

And in this class, we're going to be talking about the first two steps, customer discovery, customer validation, the pivots that connect them, and then a few that are lucky.

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,

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.

And our product fits right here and here's why, etc.

That's your job as the facilitator and coach.

And all this depends on your knowledge that you've just learned about the customers, their reaction to the value proposition and all the work you've been doing outside the building.

Let's go to month two

Next, they got out of the building again.

Here's your client list.

Now, what happened is, they got out of the building and this time, after they spoke to a series of customers, they spoke to over 60.

How do you actually make money from your product and service being sold to customer segments?

Why don't you match the titles below with the roles of the customers?

a KDE Mobile Phone Syncing and Management tool

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.