When Entering a Foreign Market

Think Like a BIG CompanySTARTUP

The Lean Startup, by Eric Reis

Key Concepts• MVP – Minimum Viable Product• Build->Measure->Learn (repeat)• A/B Testing• Pivot• Customer Driven Development

Example: Selling Shoes Online

• Build a sophisticated Website, eCommerce and CRM System

• Build a state of the art warehouse with shoes

• Hire lots of smart people with expensive salaries

• Launch and Pray

Old Approach

$$$$$$$

Example: Selling Shoes Online

• Create Simple EC Site with pictures• Manually buy shoes at a local shoe

store, Package & Ship (lose $$$)• Learn take payments, handle returns,

customer support• Build -> Measure -> Learn

• If successful, then Scale Up• If it fails, the shut it down

Lean Startup Approach (MVP)

Example: Selling Shoes OnlineZappos Did this in 2009• Learned quickly via

Build-Measure-Learn• Found “Product

Market Fit”• Scaled up the businessSold to Amazon 4 years later for $1.2 billion

APPLYING “LEAN STARTUP” PRINCIPLESJapan USA

Japan US : Steps• Do Online Research• Decide on a Product Pitch• Setup a Landing Page

– Picture, Clear Title, Sales Copy– State Problem and Offer a Solution– Offer a “Lead Magnet” for Email

• Run Paid Advertising Campaigns• Apply Marketing Automation & Surveys• Measure Results with Analytics

Repeat: Build -> Measure -> Learn

ToolsGoogle KW PlannerBuzzSumoAmazon CommentsLeadPages, UnbounceGoogle AdwordsFacebook, LinkedInGetDrip, ActiveCampaignWVO, HotJarGoogle Analytics

Think Like a StartupBenefits• Can be done from Anywhere• Quickly get to “Product Market Fit”• Launch knowing it WILL sell• Build a Customer List, sell to it later• Don’t Waste $Millions$ if you fail

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