It's a big idea.

What we now know is that the founders need to run what's called the customer development team.

The customer development process is actually a 4 step process.

One of the really interesting developments about this class is this whole customer development process.

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

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

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?

What are the costs of jerseys and warehousing and shipping and cleaning,

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

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.

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.

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.

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

So those are the 2 goals

The thing to remember that the goal is not to draw on the canvas.

Apple is one of the few, truly cares.

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.

I want to debut a new song that I've been working on in the last five or six months.

The pivot was a term that my best student ever Eric Reese coined when he noticed the arrow between customer validation and customer discovery, and he actually gave it a name, which I think is incredibly accurate.

And for web, mobile or cloud, we were getting you into the funnel on the bottom.

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.

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.

Next, they got out of the building again.

Here's your client list.

So the goal of the class is twofold.

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

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...

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