Demystifying Platform Thinking: 7 things you should know
Want to discover a secret weapon to make big waves in the business world? Discover platform thinking to thrive in today's changing business landscape.
Demystifying Platform Thinking
Platform Thinking – it’s more than just a buzzword. It’s a transformative approach that’s shaking up the business world, and guess what? It can also be your secret weapon for making big waves in the business world. And here’s the best part – it’s incredibly easy to get started! You might even have started without being aware of it.
Platform Thinking, in a few words
At its core, Platform Thinking is about creating a space where everyone can come together, collaborate, and make magic happen. Think of it as the ultimate business playground, where ideas, services, and opportunities flow freely. It’s like a bustling marketplace where customers, partners, and even competitors meet to create something bigger and better.
Business Shifts Platform Thinking Brings:
From Product-Centric to Customer and Ecosystem-Centric: Shift from individual products and services to ecosystem collaboration bringing together all stakeholders.
From Ownership to Access: Emphasize access to goods, services, or information over ownership, leading to increased convenience and flexibility for customers.
From Centralized to Decentralized Orchestrated Value Creation: Foster decentralized value creation so all stakeholders contribute to the value creation process in a cooperative approach.
From Linear Growth to Network Effects: Harness network effects for exponential growth instead of conventional business model’s linear growth.
From Closed to Open Systems: Embrace openness, offering APIs, interfaces, and tools that allow external parties to build upon the platform. This encourages collaboration, innovation, and new products and services development.
From Fixed to Dynamic Business Models: Adapt to changing market conditions and customer needs with dynamic business models and sustainable value propositions, harnessing technology and data.
From Customer Transactions to Customer Engagement: Focus on engagement to build lasting relationships instead of one-off transactions with customers, transforming users into active participants.
The Bottom Line: It’s Your Turn!
Platform Thinking isn’t just for the big players; it’s for forward-thinking small businesses too. Embrace the power of ecosystems, become the go-to expert in your niche, leverage your unique strengths and personal relationships with your customers, take advantage of your agility and watch your business soar to new heights. Ready to dive in? Stay tuned for our next publications on Platform Thinking and how to embrace it for your company.