introduction to e-commerce - the lean startup
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UNIVERSITY OF THE PHIL IPP INES
OPEN UNIVERSITY F A C U LT Y O F M A N A G E M E N T A N D D E V E L O P M E N T S T U D I E S
I N T R O D U T I O N T O E - C O M M E R C E
LEAN STARTUP
RM Nisperos Course Instructor
Introduction to E-Commerce
University of the Philippines Open University
HELLO!
http://rmnisperos.com [email protected]
[email protected] facebook.com/RMnisperoswebsite
@RMnisperos
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MYTHS D E B U N K E D
ENTREPRENUER
ENTREPRENEURSHIP MYTHS
1. A startup is a small version of a big enterprise.
2. Entrepreneurs know exactly what customers wanted.
3. Entrepreneurs could predict the future.
{ } 1 WRONG.
A startup is a small version of a big enterprise.
Startup is a human institution
trying to start something new
under extreme conditions of
uncertainty
-Eric Ries
“ “
Startups don’t have
departments or siloed teams
unlike in big established
enterprises.
Startups only have one team
that focus on solving problems
– consumer problems
One
Team
{ } 2 WRONG.
Entrepreneurs know exactly what customers wanted.
Entrepreneurs assume that
they know what the
customers exactly wanted.
They’ll never know until they
test the market
Needs?
{ } 3 WRONG.
Entrepreneurs could predict the future.
Entrepreneurs assume that
their business plan will
predict the future. Most of the
time, traditional business
plans for business startups
are fiction writing.
Business
Plans?
LEAN STARTUP?
WHAT IS
is not in the development or
selling of products and
services but the development
of the its customers and
markets
Startup
Businesses don’t fail because
they lack a product;
they fail because they lack
customers and a proven
business model
E-Commerce
scientific approach to
creating and managing
startups and get a desired
product to customers' hands
faster.
Lean
Startup
FEEDBACK LOOP?
WHAT IS THE
I N L E A N S T A R T U P
Feedback
Loop
Creating order and
not chaos under
conditions of extreme
uncertainty
by providing tools and
framework to test and
validate ideas and its
vision.
Feedback
Loop
Your E-
Commerce ideas
generated based
on your idea
factory
Feedback
Loop
Build product/s
and/or service/s to
test your ideas.
Sourcing product/s
and/or service/s from
other sources could
also apply.
(minimum viable
product)
“The smallest thing you can
build that delivers customer
value. “ Allows collection of maximum amount of
validated learnings about customers with
the least effort and cost.
Minimum
Viable
Product
(MVP)
Feedback
Loop
Bring your MVP to
your target market.
Feedback
Loop Measure
progress and
solicit
consumer
feedback
Feedback
Loop Collect and analyze
data to know
underlying truths
about your target
customers and your
product (validated
learnings)
The startup will also utilize an investigative
development method called the "Five Whys".
Asking 5-why questions in
study data and to get to the
root cause of the problems. Provide clues whether the e-commerce
business is either moving the drivers of the
business model or not.
5 Whys
Feedback
Loop
Assess your
“validated learnings”
whether to “pivot” or
“persevere”
Validated learnings directs how to
drive an ecommerce startup - how
to steer, when to turn, and when to
persevere - and grow a business
with maximum acceleration
“ “
PIVOT the
Success is for those who can find "the
pivot"- the point of reinvention when
they realize that their original ideas
need retooling.
CHANGES
WHY LEAN STARTUP
EVERYTHING
Because of conditions of extreme
uncertainty, failure becomes prerequisite to
learning.
Lean Startup is about failing
fast, failing cheap. It is about putting a process, a methodology
around the development of e-commerce
businesses“
Eliminating
Uncertainty
The Lean Startup methodology has a premise
that every e-commerce business is a grand
experiment.
By the time that product is ready,
it will have established market. If successful, it allows e-commerce entrepreneur
to scale the business and eventually start to
build an empire.
Work
Smarter not
Harder
The Lean Startup methodology is..
constant contact with potential
customers for continual product
iteration to serve customer
needs
Continual
Improvement
E-Commerce startups exist not
to make stuff and make tons of
money. They exist to serve
customer needs in order to
build a sustainable business.
“ “
RM Nisperos Course Instructor
Introduction to E-Commerce
University of the Philippines Open University
THANKS!
http://rmnisperos.com [email protected]
[email protected] facebook.com/RMnisperoswebsite
@RMnisperos
+RMnisperos