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Product Platform

Five of the 10 most valuable companies in the world today derive much of their worth from their multi-sided platforms. Many MSPs are more valuable than companies in the same industries that provide only products or services. However, companies that weren’t born as platform businesses rarely realize that they can turn their offerings into one. And even if they do realize it, they often wander in the dark searching for a strategy to achieve this transformation. In this article, four specific ways in which products and services can be turned into platforms and examine the strategic advantages and pitfalls of each are laid out: (1) opening the door to third parties; (2) connecting customers; (3) connecting products to connect customers; and (4) becoming a supplier to a multi-sided platform. Read more at: https://hbr.org/2017/07/finding-the-platform-in-your-product

 

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