That's a gentlemen's club. I told you about it. The Singapore clients come to the city, they love that crap.

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

In fact, we can do it in 256 different ways.

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

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,

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?

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

not what engineering or the founders thought

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

You could say look, I performed services that will earn me 200 in the future

Pattern that is used for file inclusion

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

Many companies have huge databases of customer information.

Pattern that is used for file exclusion

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

Instead of pricing based on cost,

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.

Apple is one of the few, truly cares.

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.

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.

In a web or mobile product, instead of building a physical prototype, you need to have a low fidelity app or website available for customer feedback.

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.

In theory, understanding acquisition and activation seems pretty simple.

Next, they got out of the building again.

Here's your client list.

Wow, who's this! Brother Sosam!

And, if we look at their next rev, the things in red are the changes.

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.

Let's go to month two

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.

Let's do an exercise and see what it feels like and how does it work to get an activated customer and how much it cost.

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

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.

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

It's a big idea.

That's your job as the facilitator and coach.

We've got customers.

Who do you do that for?

Defense department's largest contractor.