Building and Scaling Smaller Startups Within Etsy, Emily Smith, Senior Manager, Social Innovation + Rachana Kumar, Senior Engineering Manager, Etsy
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Founded in 2005, Etsy has grown into a public company with over 1,000 employees. It's no longer a startup but, in many ways, Etsy still thinks and builds like one. This presentation will walk through examples of how Etsy takes Lean Startup approaches to smaller, startup-like products within the company, including how these smaller teams are formed, how their work is tested, and how they exist within the larger company ecosystem to allow for constant iteration and innovation by the brand. Included here will be tips for supporting internal startups within established companies."
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Building and Scaling Smaller Startups Within Etsy, Emily Smith, Senior Manager, Social Innovation + Rachana Kumar, Senior Engineering Manager, Etsy
- 1. BUILDING AND SCALING SMALLER STARTUPS WITHIN ETSY
- 2. Who are we? Rachana Kumar Senior Engineering Manager Seller Services Brooklyn Emily Smith Sr. Manager, Social Innovation Sustainability + Social Innovation Team Brooklyn
- 3. Agenda 3 • Etsy, A quick overview • Addressing startup challenges within the context of a larger company: Ideas, Build, Measure, and Learn
- 4. Etsy is a global creative commerce platform where people around the world connect, both online and offline, to make, sell and buy unique goods. 4
- 5. Reimagine commerce in ways that build a more fulfilling and lasting world OUR MISSION 5
- 6. We believe we are creating a new economy, where creative entrepreneurs find meaningful work and where thoughtful consumers discover and buy unique goods and build relationships with the people who sell them. ADIKILAV Jerusalem, Israel Photo by: Shlomit Koslowe Moira K. Lime Omaha, NE Photo by: Moira K. Lime Habitables Madrid, Spain Photo by: Habitables Nested Yellow Portland, OR Photo by: Jessica Dremov and Nested Yellow karoArt Dublin, Ireland Photo by: Christine Burns My A La Mode Boutique Ecuador Photo by: My A La Mode Boutique noemiah Montreal, QC, Canada Photo by: noemiah Lorgie Fremantle, WA, Australia Photo by: Lorgie Jeremiah Collection San Francisco, CA Photo by: Matthew Reamer Docksmith Brunswick, ME Photo by: Docksmith purlBKnit Brooklyn, NY Photo by: purlBKnit Julia Astreou Nicosia, Cyprus Photo by: PanagiotisMina Nicole Porter Design Saint Paul, MN Photo by: Nicole Porter Design Clap Clap Los Angeles, CA Photo by: Bert Youn and Mimi Kim Little Hero Capes Somerset, MA Photo by: Rich Vintage Photography Cattails Woodwork Hermitage, PE, Canada Photo by: Cattails Woodwork redravenstudios Pittsburgh, PA Photo by: Janelle Bendycki Room for Emptiness Berlin, Germany Photo by: Room for Emptiness sukrachand Brooklyn, NY Photo by: sukrachand Artifact Bags Omaha, NE Photo by: Dana Damewoodand Jackie Sterba Woodstorming Kaunas, Lithuania Photo by: Ilona & Martynas from Instudija
- 7. SELLER Pursues craft, grows business ETSY Invests in the platform and delivers a global base of buyers ETSY Facilitates the transaction BUYER Finds unique goods that are hard to find elsewhere ETSY EMPOWERMENT LOOP ETSY EMPOWERMENT LOOP Our Seller-aligned Business Model
- 8. By the Numbers 1.7M active sellers AS OF DECEMBER 31, 2015 28.6M active buyers AS OF DECEMBER 31, 2015 $2.84B annual GMS IN 2015 ~45M items for sale AS OF DECEMBER 31, 2015 Photo by Kirsty-Lyn Jameson
- 9. Expand the Etsy Economy
- 10. Applying the Lean Startup Methodology Big AND Lean.
- 11. The Methodology That we all know and love. Methodology by Eric Ries
- 12. Ideas
- 13. SO YOU HAVE AN IDEA Etsy Studio Etsy Wholesale Etsy Manufacturing Etsy Pattern
- 14. Vision • What is the vision? How will it look like a year from now and five years from now? Goals • What are the measurable goals? Outcome • When and how you will achieve those goals? Resourcing • What resources do you need to hit those metrics?
- 15. But, Is That Enough? 15
- 16. 16 Be Your Own Obsessive Advocate Etsy Made in Canada Photo by Jean-Michael Seminaro • Find sponsors • Engage teams across the company
- 17. Don’t Underestimate Internal Comms • Hold open information sessions - Lunch and learns - Weekly progress meetings • Get swag - hoodies, stickers, make people understand it’s real and happening • Create an interest group for the market you’re trying to address, share news and market updates • Feed leadership lines, make sure it’s represented in company wide communications 17
- 18. Build
- 19. Existing Infrastructure: Benefit or Liability? 19 Research • Do we have the right stack for this? Review • What needs to change? Repeat • Are we building for long term?
- 20. Fostering a startup culture at a well-resourced company • Recruit the right team. • An obsessive focus on deadlines from the start. • Always ask why and say “NO” when you need to. 20
- 21. Measure
- 22. Being a Small Fish in a Big Pond… At First 22
- 23. Learn
- 24. Is it working? 24 Learn • What’s working (or not)? Access • What needs to change? Analyze • What does the real data inform?
- 25. The Age Old Question: Preserve or Pivot? Key to success: Focus on the core customer and what’s right for the company 25 Photo by Rich Vintage Photography
- 26. Thank you! Rachana Kumar rkumar@etsy.com @kumar_rachana https://www.linkedin.com/in/rachanakumar/ Emily Smith esmith@etsy.com @emjsmith