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Itnig

Itnig es un ecosistema de startups, un fondo de inversión para proyectos en etapa inicial, un espacio de coworking y un medio de comunicación con el objetivo de construir y ayudar a otros emprendedores a crear negocios escalables. Nuestro objetivo es liderar negocios de alto crecimiento, y construir un ecosistema y una economía independientes donde nuestras startups y equipos puedan colaborar, fortalecerse y crecer más rápido. El podcast de Itnig es un podcast de negocios, tecnología y emprendimiento. Invitamos semanalmente a emprendedores y perfiles tecnológicos para hablar sobre sus startups de éxito. Siempre estamos buscando aprender y compartir conocimiento de las personas más interesantes del ecosistema. A través del fondo de inversión de Itnig, buscamos invertir en equipos con el talento y la ambición de crear negocios escalables con el potencial de cambiar mercados e industrias. Itnig es un ecosistema de startups, un fondo de inversión para proyectos en etapa inicial, un espacio de coworking y un medio de comunicación con el objetivo de construir y ayudar a otros emprendedores a crear negocios escalables. Nuestro objetivo es liderar negocios de alto crecimiento, y construir un ecosistema y una economía independientes donde nuestras startups y equipos puedan colaborar, fortalecerse y crecer más rápido. El podcast de Itnig es un podcast de negocios, tecnología y emprendimiento. Invitamos semanalmente a emprendedores y perfiles tecnológicos para hablar sobre sus startups de éxito. Siempre estamos buscando aprender y compartir conocimiento de las personas más interesantes del ecosistema. A través del fondo de inversión de Itnig, buscamos invertir en equipos con el talento y la ambición de crear negocios escalables con el potencial de cambiar mercados e industrias.

Transcribed podcasts: 697
Time transcribed: 26d 23h 57m 17s

This graph shows how many times the word ______ has been mentioned throughout the history of the program.

Bueno, les voy a poner otra copa a las Fridays de la ITNIC,
dirbús que muchas veces perverímos, un divendres más,
y que bueno dirbús que estemos aquí cada divendres,
donando cerradas sobre ingenierías, sobre marketing, sobre negocio, sobre diseño,
y bueno, que si voleu estar una mica el día en el que estemos haciendo,
os podeu apuntar a nuestra web, y nos vamos a poner a la sección de eventos,
y le habreu una conferencia maral sobre el que hacemos, ¿vale?
Dirbús que aquí a ITNIC nos agrada mucho compartir con nosotros,
y que también nos agrada que venimos vosotros,
y que teníamos que estar compartiendo algo con nosotros,
pero que podreos contactar conmigo y en sección de eventos, ¿vale?
Muchas gracias por venir, os dejo el Jordi,
y bueno, la cerrada lo faremos con el vilet, ¿sí?
Sí.
Un par de cosas técnicas.
Si quieres internet, puedes usar este wifi,
si quieres tweet, puedes usar ese hashtag, ¿vale?
Entonces, vamos a hablar de cómo comenzar el negocio de TaniCommerce,
y voy a intentar cubrir todo y nada al mismo tiempo,
para darles las clases sobre cómo manejar su posible suceso,
y cuáles tools deberías usar, y saber cuántas puedes hacer,
y cuántas cosas todo va a costar.
Así que, bueno, eso es mí, por favor.
Mi nombre es Jordi, trabajo aquí en ITNIC,
y deberías seguirme en Twitter, que es mi botón,
y, una vez que estaba en frente de un caos, y fue muy caro.
Así que, como dije, esto es ITNIC,
Taby almost introduced ITNIC,
what we do here is we help entrepreneurs create internet startups,
so we are both a technological and marketing partner,
and we now have nine projects going on.
Some of them are e-commerce,
and some of them gave us the knowledge
that I'm going to try to share with you now,
and they're good examples of how we do things.
So, e-commerce, I guess all of you know what e-commerce is.
It means electronic commerce,
it means trading goods online via internet.
Mainly, we want to sell stuff online.
So, we're going to cover more or less these items, these questions.
Why do we want to sell stuff online,
and not offline or not just do something else?
What are we going to sell?
Where are we going to sell it?
That's kind of obvious.
And to whom?
And how?
So, to have an idea,
the why is kind of the motivation of why we are all here
and why we do what we do at INNIC.
I don't have an answer for that,
so everybody can sell what they want.
We're just going to see what kinds of goods you can sell,
and you're going to see the rest.
Let's start with the why.
So, it's always cool to share some charts.
I didn't make this one,
but it's from Goldman Sachs, so it looks good.
E-commerce is growing a lot,
and it doesn't seem so,
but it's growing around 20% a year,
which is huge for such an established,
how do you say, sector or segment as the electronic commerce.
It used to be growing at 50% yearly
from 2000 to 2010,
and now it's still growing,
and as you're going to see,
it's growing even more in some more defined segments.
This is global e-commerce,
and we're going to reach 1 trillion next year,
apparently, according to Goldman Sachs.
So, it's a big market.
It's a market that is very good for technical people,
like most of us are here,
and it's also a growing market,
so far it's a very good place to be at.
Most people think that e-commerce only works in the States,
and kind of it does,
because as you can see,
the States is not a third of the population in the world,
or a third of the economy in the world,
but Europe and Asia are still huge markets
compared to the States,
given that almost all of it started there.
So, the good news here is that Europe is not as small
as most people think it is
in the global e-commerce segmentation,
and obviously anything that's not US, Europe,
or Asia is actually quite small.
So, that means that it's both an opportunity
and also it's a small market,
and you need to do a lot of work to get it.
This is a specific mention.
I'm not going to talk about mobile e-commerce today,
but I think this slide is very interesting,
because this is something that has been discussed a lot lately,
which is that mobile e-commerce is multiplying
by two or three every few months lately.
It's a huge opportunity,
because people are tending to use more and more
their mobile devices for everything,
but specifically for buying online,
and this is huge,
because if we know how to create a mobile platform
to sell stuff,
we're going to be on this huge increase.
As you can see, we go from 1.2 billion dollars to 11,
so 10 times in just four years.
That's a huge opportunity there.
So, we know why we want to sell stuff online
mainly to make money, right?
So, what can we sell online?
I just made here three distinctions,
but you can actually sell anything
that some people can buy online.
You can choose to sell some existing product.
You can license some product
that usually applies for software
or, I don't know, I can only think of software,
services and things like that.
You can also think as a digital boot
that's something that you license,
like electronic book or a movie,
or something like that.
You're not actually selling a product,
you're just letting the user use it,
or you can create new products
and launch them in the market.
We're going to go deeper there later
on how we sell this stuff, right?
Where do we sell it?
That one's easy.
We sell it on the internet.
That's it.
How?
I mean, to whom?
That's the thing, right?
So, we're always going to use the internet.
That's why we say it's electronic commerce.
And there the question is,
we have some product.
We have something that we're going to sell.
It has a price,
but also it has a customer.
It has a target.
It has a segment of people that use the internet
and buy stuff on the internet
that wants this thing
and is willing to buy it online.
So, here, there's one of the biggest distinctions
that we have to make,
which is the difference between existing demand
and new demand.
So, people go online and look for
hotel reservations, or plane booking,
or used cars,
or buttons, or stickers,
or stuff like that.
But there are some other products
that people just don't go to the internet to buy.
Like, they don't try to buy fresh fish online,
usually.
Most people don't.
So, there's this huge difference
between demand harvesting and demand creation.
So, we're going to see
what this difference means.
We're going to start with demand harvesting.
It's just about discovering current demand seekers,
what they are after.
If it's our product, that's good.
We can offer it to them.
And then, also, it varies
if there is already competition,
if there is already somebody
covering that demand or not.
If there is not, this is a huge opportunity.
I mean, if there is a demand
and there is no offer for this demand,
we have usually a huge opportunity.
It's quite cheap to go after it.
Nowadays, it's kind of hard
to find this scenario,
because a lot of people had a lot of ideas
and tried it during the last 10 years
to sell almost everything online.
Also, the main channel that we're going to use
to investigate if there is this demand
and how big it is, is SEO.
That's how we're going to exploit it,
and SEM is both how we're going to exploit it
and how we're going to measure it.
But we're going to see this in a second.
So, what's this?
Do you know what Google AdWords is?
Who doesn't know what Google AdWords is?
Can you raise your hands if somebody doesn't know?
Everybody knows what Google AdWords is.
So, who knows what Google AdWords is?
Because the rest of the people are just shy.
One guy, two.
Okay, so most people are just shy.
Google AdWords is what Google offers.
I'm going to spoil you here.
Okay, so when you Google for something,
you have this box here and this box here.
These are paid advertisements.
And actually, Alba here gave an Indic Friday
about Google AdWords a few weeks ago.
And she told us how to create campaigns,
but today we're going to see how we use this tool
to start an e-commerce business.
So, these results here, they're here
because they're paying more than the other people.
It's that easy.
I mean, there are other factors, right?
But this is the main reason why they're here.
And this is good because you can just build a campaign today
and be there tomorrow.
You don't need to build a foundation,
get reputation, and wait for months to appear here.
And this is going to be awesome
to just try out some crazy ideas.
So Google AdWords is this tool
and it has a free tool that's called
Keyword Tool or Find Keywords Tool.
It's free.
You can go there with this URL
or you can just Google a Google Keyword Tool.
So what do we do here?
We say, I want to sell,
sorry, this is in Spanish,
custom candies or custom chocolate boxes
or something like that.
Custom sweets, custom gifts,
something like that.
So you enter all the sentences
that you think your customer's going to be looking for
and which actually matches with what you're selling.
And also it proves some kind of buy intention.
So the user is looking for something
and he's willing to buy it.
So if he's comparing to products,
maybe he's not yet at the buy stage.
But if he Googles buy something,
then he's definitely looking to buy it.
So here you just put some keywords
and then you can specify,
I think you can read it,
but you can specify the location,
you can choose Spain in this case
and the language.
I chose all because they mixed
English and Spanish sentences.
So you submit
and then Google gives you this list.
This is readable, right?
So here you have all the keywords I added
and then it tells you
if there is a lot of people bidding against it
or not, or something in between.
And also it says how many people
in the world are looking for that monthly,
approximately.
It's not exact,
but it usually gives you an idea
of an order of magnitude.
And here it just filters out
the region that you specify.
So if you say it's Spain,
it means that approximately
1,300 people is googling
for regalo chocolate, right?
What does this mean
that if you position a website
chocolate either with AdWords
or with SEO, with organic positioning,
you might have a big percentage
of this number of visits
if you are top ranking it.
And it also suggests other keywords
that you didn't specify,
but he's kind of smart
and he suggests.
And it also gives you ideas
like obviously,
chocolate in Spanish has 30 million visits.
That's going to be an expensive keyword
and that doesn't prove
that the user is trying to buy
what you're selling,
unless you're Nestlé
or something like that,
which mostly if the user
is googling chocolate,
you want him to come.
But if you're just selling
something as specific
as something custom,
then you usually don't want
to pay for this keyword.
But regalar chocolate personalizado
only has 73 visits.
Maybe it's not even worth the effort
of building a custom page
and creating a campaign for that.
So you should look for results
in this range or more,
obviously, and it depends
on how ambitious you are
and how much can you pay
for a single visit.
And this is the result.
If you pay for it,
you appear in either there or there.
The highest bidder
is the first result.
It's mostly that simple.
So this is SEM.
And also I can go ahead
and introduce you
that this is SEO.
So this guy here
is not paying for advertisement,
although he is,
because he's here.
But this guy here
is just appearing here
because he is truly
the first result
that Google thinks
is worth showing
when you Google that keyword.
So here you can see SEO and SEM.
This is awesome
because you can experiment.
And in 24 hours,
you can set up an e-commerce
or a web page
and see how many people
is looking for that.
And of those people,
how many click in your page,
given the description,
the URL, and the title of it.
And when they're there,
if they have intention to buy.
So maybe you can just
put a sign up form
or ask for more information
or even create a fake e-commerce site,
which you can do.
You can just pretend
that you're an e-commerce,
although you don't sell anything.
What's going on, Pedro?
Just a question.
Is there a difference
between the ads on the right
and the ads in the middle?
Well, I mean,
there is an obvious reason
that these ones
are where you expect
the real result
and these ones are not.
And also,
those ones are more expensive.
Right?
Is this right?
So...
But they're the same thing.
It's just that those are the good ones.
I was saying,
you can create
even a fake e-commerce
or a fake platform
where you say,
I'm selling this custom candy.
Just click here and buy them.
And the users can say,
oh, I want to buy them.
They're like, what, 20 euros?
So he clicks
and he goes through all the process.
And at the end,
you can say, oh, I don't have them.
I'm sorry.
But now you know
that out of 1 million people
who saw that link,
1000 click there,
100 almost bought.
Or these numbers
don't actually make any sense.
But something like that
is what you need to know
to see if these e-commerce
make sense.
And out of that,
you can say,
okay, I can potentially have
100 orders
if I invest this amount
of money in AdWords.
But you can also say,
if I ever get here
with organic positioning,
which you don't have to pay
for every click for,
you can potentially have
maybe another 80 orders
without having to pay per click.
So that's how you kind of
study the viability
of the e-commerce
search marketing strategy.
This is easy,
but you have to pay
for every click.
This is not easy.
This takes time.
And sometimes it's just
impossible to rank,
to outrank other pages
such as Wikipedia
or, I don't know,
chocanadepresente.com
that has been there
for 10 years.
I mean,
it's quite hard
to beat them.
I would say
that maybe between
two and three months
you can have a decent result
if your SEO strategy is good.
But it depends on what you do
and who you're competing for.
So if you're doing travel
or booking
or house rental
or something like that,
you're screwed
unless you're one of them.
If you're just doing
something else,
maybe you have some chances
of competing,
but that's why you use
SEO form.
So,
SEM,
it's good to experiment
because you can have
quick results fast.
You can measure
the click-through rate,
which means how many people
see your link
and then click it
and go through it.
You can measure
conversion rates
with either a landing page
with a sign up form
o a
subscribed here
for the newsletter,
even a fake e-commerce
or actually
a fully fledged e-commerce
that actually sells stuff
and maybe you just take
longer to sell.
And it can give you
a reference
for what's going to be
the cost per click later.
So you can scale up
the business
if there is more traffic.
SEO,
it's low
if you do it properly.
There are some dirty tricks
to do it faster
and I guess we're going to do
a,
how do you say,
an Indic Friday
Black Hat SEO
if Chavi
allows us to do so.
It's scalable
because you have to do
an investment
to have the foundation there
to have organic visits.
But once you have the foundation
then traffic keeps coming
and you don't have to pay
for every click.
It's a real competitive advantage.
What does it mean?
With SEM,
the highest bidder gets it.
So if you're competing
with someone else
with more cash
and your products
are both replaceable
with each other
and he just bets more.
He's going to be
first in SEM
and then you're screwed up.
If you have a good
SEO strategy
and you have a good positioning
then a new player
is going to take a while
to catch you
and maybe he doesn't do it
because you keep improving it.
And virtually free clicks
that's not true
but what do you mean
is that you don't pay
per click, right?
Actually you can choose
but most people just
pay per click
or at worst.
So at worst
is a bigger product
than this
but here
you just say
I'm going to pay per click
and you can either
say a maximum
of amount per click
that you pay
or you can say you manage
and my maximum budget
is, I don't know,
100 euros a month
or 1 million euros a month.
It depends on your volume
and then it adjusts.
If it's a very competitive
keyword it's going to be
more expensive one
like hotels in Barcelona
that's going to be
fucking expensive
but maybe custom candy
is quite cheap.
So you have more clicks
for that amount.
So you don't pay
for being here
but being here
and getting clicked
which means
that your ad is relevant
to the user
makes it have more chances
to be here.
So there is like
a quality
of the campaign
that Google
analyzes
to see if you're
the good option.
So if your page
here is a porn page
I mean porn
you're going to be banned
but if you're selling cars
and you say
custom candy
he's going to say users
that Google custom candy
don't want to buy a car
they're not going to show
your ad anymore.
So there are some things
to optimize the chances
of being here on top
and of lowering
your cost per click.
So if you say
custom candy
and all your website
is only about custom candy
then it's going to be cheaper
that if you say custom candy
and your website
is about
you know
courting less
or something like that
where you sell everything
and you also sell
this thing
because you are not
as targeted
as you could be.
So we were here
here actually.
So this was
demand harvesting.
This is very good
for starting.
It's very good
for having a quick test
of the market
because the demand
is already there.
You just test it
and then you measure
how much it costs you
and then you can decide
if you can scale the business
or not.
Demand creation
is another business
so this is
you can also do that
it's slower
it's not as easy
to measure
and it depends
on other factors.
So why can you
need to do demand
creation
because you're
selling a new product
and if it's a new product
and the chances are
that users are not looking
for it yet
because they don't even know
it exists
or because it's a product
that people don't
usually buy online.
So this can happen
like we said
fresh fish
it's something that
most people don't think
I'm gonna buy it online
so maybe now
you decide that
you're gonna sell
fresh meat
or fresh fish
or something like that
online
and then you create
a new website
but nobody's actually
looking for that.
You go to Google
keyword 2
so
doesn't mean that
you cannot create
any commerce there
no, it doesn't mean that
it just means that
somehow you have to
train and educate
your users
or your potential customers
to search for that
or to get there
somewhere else.
So good luck with it
it's not as easy
it's not as fast
but no
you can actually
do something
there's this thing
called social media
that it's like
the ongoing debate
that we have here
is it measurable
it has it
does it happen like
measurable return of investment
can you actually
invest there
to get money
in your company
like this is something
that is very hard to measure
and sometimes
some people find it useless
because it's easier
to put money on AdWords
and get some clicks
on exchange
and then you have
your conversion rate
and then you obviously
know how much
you're getting from there
but this thing
is useful for many things
one of them is
creating this culture
and educating
and training your users
so there's also
some products
like
I was discussing this
with Jack yesterday
we were talking about
a product that
people are not looking
for online
like I don't know
imagine something
for a community of
designers
they want a designer
notebook
a notebook specifically
meant for web application
designers
with a grid
and with some
templates that you can use
so
designers maybe
are not looking
for that enough
actually we checked it
and there was
mainly nobody
looking for that
but if you put it
in a design school
and you spread it
from there
and people think
oh I want that
that notebook for designers
and then they go google it
but first you have
to put the seat
and that's obviously
going to take longer
and it's much harder
than to just
customize
some AdWords campaign
of online marketing
custom education
I don't know
so
what does that mean
this thing here
means customer acquisition cost
and it's very simple
to measure metric
if you know how to
and if
if the
channels that you're using
allow you to
like
if you focus
all your effort
in social media
and then magically
you get orders
it's very hard to measure
you can say
ok
everything that I spend
divided by
all the customers
I get
is the cost of acquisition
but that's not
very accurate
because you're
mostly spending things
on long term
investments
like a platform
or a reputation
stuff like that
if you're paying AdWords
that's much easier
because
you get
one dollar
for a click
and then out of that
one out of
ten clicks
from AdWords
are gonna pay
and they're gonna
give you an order
so you know that
it's just
ten euros
what you need
right
this thing here
is the lifetime value
which is
how much money
a new customer
represents for you
so a lot of times
this equals to the
order average
like
if you're selling
stocks
and each per stock
is always 20 bucks
but
maybe if you're selling
stocks
it's something that
people try
they like it
and they buy another per
and then another per
and maybe the average
is that they buy
they buy three pairs
and then the lifetime value
is maybe
not 20 bucks
but 60 or 50
or something between
you have to take that into account
because once you get
a customer
via any of the channels
actually you have to
take into account
how much he's gonna give you back
sometimes
the average order
is 20 dollars
and the cost of acquisition
is 40 dollars
and then you think
you're screwed
and your business doesn't
make any sense
but maybe that's not true
because this guy keeps coming
and keeps coming
and he actually spends
200 dollars in your store
and you only spend 40
so it's actually a very
good business
but you need to be able
to measure this
problem with this
it's very hard to know
at the beginning
because you don't know
if they're gonna repeat
or I mean you can guess
but as
further you go
in your
trajectory
and in your business
all the metrics
get more precise
but also
more complex to calculate
this means
you're good
so you're happy
this is like
the reasoning behind
like the theory
behind how to create
why do you want to create
an e-commerce
and selling what
for whom and where
but let's see how
I mean we're not gonna
go into all the details
but just a main idea
so to have an e-commerce
what you need
you need a website
that's
you could also have
a mobile application
but let's simplify
you need a website
there are three options
that I'm gonna mention here
and there are many more
but the first one
is a free one
and it means
using open source
software solutions
there are two of them
that are quite popular
this one here
Magento
is a PHP open source
platform
for e-commerce
it's usually
very ugly
non-performant
but at the same time
huge, highly customizable
and it has a lot
of community support
this one up here
I find it very hackish
but I discovered
that a lot of people
is using this
which is using WordPress
which has nothing to
with this plugin
called WordPress e-commerce
which is actually
not that bad
and it allows you to create
a normal website
that most of marketing
slash web
people know how to use
and you can put on top
of that an e-commerce module
and sell things
I mean
this thing is not gonna last
for long
but maybe it's good enough
for a market
market test
this thing can last
and there are huge
huge stores using this
this is what you usually get
with Magento
so you can see
a lot of technical trashy
e-commerce
but it works
you can customize it
but I think it's worth
going to a better solution
if you move on
there is another option here
which is Shopify
Shopify
is not
an open source
hosted solution
so something
that you can download
and install in a server
is a platform
is a software as a service
that you pay
a monthly fee for it
and it's much more polished
and it has a lot of templates
and plugins and applications
and they have also cool video
so I'm gonna show it to you
Mark
create your own
add your products
upload your photos
and let's Shopify
take care of the rest
within minutes
you're set up
to run your business
from anywhere
and accept orders
from all over the world
go ahead
build your business
Shopify
that was like spam
but I mean
they don't pay me anything
I'm sorry for that
eh?
no no
they don't pay anything
actually there
kind of a competitors to us
but this video is nice
and it also shows you
what an e-commerce platform
is meant for
so you can have a catalogue
you also have a back office
to create products
to create discount coupons
manage your orders
the shipping
and all these things
so it's kinda nice
so that was Shopify
and there is the third option
can you really sell low light?
sorry?
can you really sell low light?
yeah
yeah yeah
actually I created a store
this morning
for me
to see
and I'm selling in euros
and shipping everywhere
in the world
and it works fine
so
you're gonna see some prices
of this later
and there is the third option
which is
so these two guys over here
they're Albert and Chaby
please come on
so these two guys over here
they're web developers
and
they're part of INNIC
and these two guys
can create for you
an awesome e-commerce platform
it's obvious
not gonna be as fast
as just using some magento
or some Shopify
but it's definitely gonna be better
and more suited to your
specific business needs
and also
you can further customize it
and then for both marketing
for both your customization
processes like
imagine you just don't sell stocks
or ebooks
imagine you sell something
that it takes ages
to introduce your measures into it
or imagine that
you have complex
discount processes
or complex checkout processes
there is almost no way
you can just use a Shopify for that
so custom development
is an option
it's almost the only option
when you grow enough
for starts
for starting
sometimes it makes sense
sometimes it doesn't
but if it does make sense
these guys here are very good
so
this is just an e-commerce
so we made it
we got a website
it's actually a Shopify
which is the fastest thing
I could do
and you can just sell
some tips for pounds
and you can ship anywhere
that's your problem shipping
and all the logistics
that's something else
we're not talking about that today
because that's the
not online part of it
but just within
like half an hour
or two hours
if you don't know how to
you can get this thing going on
and you can start accepting payments
so like
that's good
you can have an e-commerce platform there
to make money
to sell stuff on the internet
to your customers
through a platform
that you can either rent
or download online and customize
or bill for yourself
so
with that you just make money
and that's almost all of it
but there is like this big question
that most people ask
like how much does this thing cost
I mean
otherwise if this is all free
we could just
right now have something
just bill something
or buy something online
and sell it
somewhere else
more expensive
so
this is just an approximation
of what it can take you
to do an experiment
an experiment is the first thing
that we were talking about
which is
discovering the market needs
if you're doing
demand harvesting
it means that the demand
is already there
and you just put the seed
and get the results
to do that
you just need
usually you better get
an old domain name
just don't use something
hosted
and domain somewhere else
so you pay for something.com
that's even less than 8 euros
and
AdWords
there are a lot of 75 euro
coupons going on on the internet
with that
you can have a quite accurate
result to know
what keywords can work
and how much is the CPC
and with that you can start
your own test of the market
I would say you can put up
to 1, 2, 3, 4, 500 euros
to keep going on
so this experiment is meant to last
between
a week
and 2 or 3 months
it shouldn't take longer than that
it usually within a week
you know how much you're going to make
and in this example
I just use Shopify
because it's the most
complete solution you can get
for as low as 23 bucks
there are more expensive plans
because this one has
like a 2% transaction fee
which means that if you sell
something for 100 they keep 2
I guess you know that
and as you grow
you can pay for bigger subscriptions
and then they lower this transaction fee
so with that
you have your experiment done
you know if the market
wants your product or not
and you could start doing
figuring out some of the other issues
like logistics
and shipping
and customer service
and kind of things that come on
with support
and with e-commerce
or business in general
that we're not talking about today
but after this one month
let's say of experiment
say you want to grow
we were just doing that
on our own name
and that's not completely
a good idea
because if you start buying things
and selling everything
goes to you as a person
and that's not completely regular
so you should incorporate a company
here in Spain
that can be around 700 bucks
if you know where to find a guy
with that you have like
SEL
Safidali Metala
here in Spain
in the States
maybe it's a bit bad
and nobody's going to the States here
so this is a customer
custom development
which means creating your own
website from that to guys
that I showed before
or from someone else
No, what does custom development mean?
What can you do here?
So you can either just go
with the Shopify
but let's say
you want your own template
your own look and feel
so you can just pay a designer
to create a template
that's quite cheap
or let's say
you want a complex thing
with your own checkout process
your own measuring system
multi-currency, multi-language
whatsoever
so that can take up to millions
if you're a fever
but sorry
it can take up to
it can take
I don't know
with something like that
you can find some provider
that builds a nice application for you
and marketing
well that's completely a mystery
I just said
2000 years a month
but it completely depends
I mean this can be
some guy working on your SEO strategy
some guy working on your social media
and half of it going into AdWords
or all together
so it could be
I don't know
a few hundred
or it could be a lot of money
and this is just an orientation
for the first few months
to a year tops
as a hobby store
that you start
if you really want to create a business
you should obviously
you know
do these analysis in deep
and invest some money in it
maybe your own
maybe try to bootstrap it
which means
try to generate revenue
from day one
and you know
feed the company with its own money
but that's mostly
how you should grow it
obviously all these numbers
are made up
I mean there is no
there is nothing there
that makes me say
these numbers are going to be true
I made them up
they might make sense
but they might not
so that's mostly it
now we should go for some questions
so thank you all
y nos vemos en el próximo vídeo