Instead of operating with a “product mindset” or a “platform mindset” alone, combine the two in order to discover new opportunities for creating value. Start with a defensible product and a critical mass of users.Ī strong product and a loyal customer base will attract third parties to your platform. After studying more than 20 companies that have tried to move from products to platforms, the authors point to four practices that can separate winners from losers: 1. Although launching a platform can generate new revenue, success is not automatic. ![]() Following the path of companies such as Apple and Amazon, more and more firms are trying to become not just product purveyors but also platform providers, facilitating direct connections between customers and other groups.
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