When I built my first store, Bucket Hats NZ, in July 2022, I had zero retail experience.
I’m a copywriter, so I knew how to market a product and build a brand. And I’d been writing content for the ecommerce industry for over a year.
Well, why not give it a go?
So I did, and after six months, I was in the green. BHNZ had become a profitable business, bringing in consistent daily sales. Now I’m passing on my knowledge.
'This guide is designed to teach you how to start your own scalable Shopify store using the exact methods I used. We’ll cover the entire process of building a profitable ecommerce store from the ground up.
The 3 principles of lean ecommerce
Lean ecommerce is the application of Eric Reis’s lean startup methods to online selling.
The principles of lean ecommerce are the same as those first mentioned in The Lean Startup. How we apply them to ecommerce, you’ll learn later.
The 3 principles of lean ecommerce are:
Validated learning. Test products and offers on the market to learn exactly what customers want. This informs what we sell, how we sell it, and who we sell it to.
Innovation accounting. Keep detailed records of tests and analyse what works best. Progress and success are measured by the amount learned in an experiment (instead of how much work it created).
Build-Measure-Learn. Prioritise speed by creating a Minimum Viable Product (MVP) – in ecommerce, that product may be an actual product or the online store itself. Get this MVP in front of an audience as quickly as possible, then rely on their feedback as it goes through iterations
Don’t worry, you won’t need to remember these terms later. But these are the principles that are behind everything you’re about to learn. They enable us to make better, faster decisions.
5 key benefits of lean ecommerce
Lean ecommerce will form the foundation that supports your product testing, brand development, and growth.
Why do we want to implement lean manufacturing principles in ecommerce?
A lean approach to ecommerce offers 5 main benefits:
-
-
-
Achieve success smarter and faster
-
Minimise time and money wasted
-
Give your customers exactly what they want
-
Be more innovative with your products and branding
-
Decisions are based on data-driven conclusions, not guesses
-
-
With all this in mind, there will still be a minimum amount of cash you’ll have to fork out at the start.
How much does it cost to open a Shopify store?
These were the costs (NZD) I paid to get my Shopify store up and running:
-
-
-
Shopify subscription $45/month
-
Shopify apps $55/month
-
Domain name & website hosting $30/year
-
Email address & email hosting $40/year
-
Canva subscription $20/month
-
Cash flow injection $500
-
Inventory $0
-
-
The total: $500 + $120/month + $70/year
Bear in mind, my business began making revenue within about two months. This meant I could use the profits to pay for some of my ongoing business expenses.
When I launched BHNZ, I opened a bank account specifically for the business and deposited $500 into it. This was to pay for inventory and shipping supplies once orders started coming in. We’ll get to all that in the next chapter, but I recommend you give your business a similar cash flow injection as Shopify payouts are not immediate.
Without further preamble, let’s kick this guide off with phase one of building a profitable Shopify store: Product Research.
Unlock The Power of Lean Ecommerce!
LeUnlock the power of Lean Ecommerce and maximize your online store's potential. Our extensive collection of strategies, veteran entrepreneurs' insight, and all-inclusive tools will assist you in achieving unprecedented success - so don't wait any longer!
TAKE ACTION TODAY!
