So, you want to create a platform business...
Updated: Mar 4
Platform businesses, which create value by enabling exchanges between different communities of stakeholder, most simply producers and consumers, are by no means new. However, the maturation of a variety of digital technologies has enabled headline grabbing disruptors such as Airbnb, Rightmove, Amazon, Kickstarter, Funding Circle, Android and Uber, amongst others, to rapidly develop platform business models at web-scale.
These businesses have gone quickly on to both redefine and then monopolise the industries in which they operate, kicking traditional ‘pipeline’ businesses into the long grass. In addition to these familiar examples many more instances of platform models have emerged that have redefined more niche markets (Etsy for example); and having established itself as a superior competitive strategy largely in B2C markets, platform thinking is now beginning to dismantle established B2B value chains as well.
Building a platform business involves tackling (at least) three very significant challenges: coming up with a great idea that will enable creative-destruction and generate economic innovation; determining the right competitive platform strategy to exploit the idea; and executing on that strategy – one key aspect of which is about managing the development of the underpinning technology estate in a way that supports the business model.
If you're interested in finding out more about how Lamp can help you design and build a technology platform then email us at email@example.com