1 00:00:00,000 --> 00:00:05,460 So as we said, understanding these 3 components of value proposition 2 00:00:05,460 --> 00:00:10,910 work together with understanding the 3 components of customer segments. 3 00:00:10,910 --> 00:00:16,129 And in value proposition, the goal of this is to find out that minimum viable product. 4 00:00:16,129 --> 00:00:20,450 And in customer segments, the goal is to understand in detail 5 00:00:20,450 --> 00:00:22,920 the customer archetype or persona. 6 00:00:22,920 --> 00:00:26,670 And again, this equals product market fit. 7 00:00:26,670 --> 00:00:31,400 I can't emphasize enough that the business model canvas is just a start. 8 00:00:31,400 --> 00:00:34,860 It's great to strategize and think about who customer segments are 9 00:00:34,860 --> 00:00:36,930 and value proposition and channel, 10 00:00:36,930 --> 00:00:40,820 but remember all you're doing is writing down hypotheses. 11 00:00:40,820 --> 00:00:44,810 Your job is to turn those hypotheses into facts. 12 00:00:44,810 --> 00:00:47,800 And there are no facts inside your building. 13 00:00:47,800 --> 00:00:53,720 So your job is to get outside and test them personally in a physical channel 14 00:00:53,720 --> 00:00:55,880 by talking to hundreds of customers; 15 00:00:55,880 --> 00:01:01,590 in a Web and mobile channel by talking to thousands virtually and some portion physically. 16 00:01:01,590 --> 99:59:59,999 You need to watch people's pupils dilate when they actually see and like your product.