What is a platform business?

The term “platform” is used in a variety of contexts. Early on , it was often a synonym for ” operating system”, but today its used to describe a variety of scenarios.

Platform businesses create an environment of promiscuous integration as a way to accelarate operations , get closer to customers & partners , unlock innovation & discover efficiencies.

Platform  businesses have a number of attributes in common. These include

  • Platforms are open. A Proprietory platform isn’t.
  • Platforms can be built upon.
  • Platforms attract communities. To thrive , these communities should be manged & nurtured.
  • Building a community  around your platform enables you to build your business more effectively with the enthusiastic help of customers , suppliers & partners.
  • Platforms scale efficiently . Self- service access & low barriers to entry are cornerstones of this.

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