“There are no quick wins in business-it takes years to become an overnight success”
-Richard Branson
Glory Eyinnaya gave an eye-opening session on “E-commerce and Platform Strategy”
Here are keynotes:
- What drives your business?
• Passion? or
• Profit?
The more passionate you are about your field, the more likely you are to succeed. - Validate interest before you start building.
- A ‘’desert platform’’ is a marketplace that’s technologically well-built but fails to attract users.
- Tips to develop a viable platform:
• Fail fast
• Develop and launch ASAP
• Validate your idea before investing too much
• Users are your best source of learning
• The product should have just enough features to solve the core problem - Don’t focus on creating a perfect platform in the beginning.
- Airbnb started out with a basic WordPress site. Once the basic concept was proven, the current features were built.
- Don’t think about scaling to millions of users right away! Focus on finding 10 people who are passionate about your concept
then 100…then 1,000…then 10,000.
Building in little iterative steps and test before moving to the next stage in an agile manner.
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🔗Catch up:
https://www.bia.lbs.edu.ng
