In the ever-evolving landscape of digital services, Netflix often finds itself categorized as either an online marketplace or a platform. However, i feel this characterization may not fully capture the essence of what Netflix truly is. Let’s delve de...
Getting people to buy from us has this Virtuous Cycle: Attract >> Screen >> Optimize >> Retain or Let go of. An example is when we hire people to work with us. We tend to spend a LOT of time on attracting and screening. And almost a...
The platform economy is undeniably thriving, but just like the Dotcom bubble, it’s not invincible. Here are some potential tremors that could shake things up: Regulation: Platforms often operate in grey areas, raising concerns about user data privac...
As a business founder, an online marketplace can be a powerful tool to consider for reaching new customers and scaling your business. Here’s how to think about it: Imagine a giant online mall, but instead of renting a physical storefront, you have a...
Platforms are businesses that connect two or more mutually dependent groups in a way that benefits all sides. Notable examples Some notable examples are Uber, where the platform connects riders with drivers, or eBay where their online product marketp...
“But everybody is doing marketplaces now.” Uber, AirBnB, Linkedin, Youtube. The list goes on. Get an idea for a marketplace and tell yourself “But others have done that already.” Often, there are unseen problems at the core of major success stories....
In the competitive landscape of online platforms and marketplaces, understanding the economic benefits you offer to both supply and demand is crucial for sustainability. Economic Incentives for Supply Ask yourself: Is there a financial incentive for...
Why Hiring an Advisor Can Supercharge Your Online Platform Dreams. Have you ever dreamt of building your own online platform or marketplace? Maybe you see a gap in the market or have a unique product or service that could thrive in a dedicated online...
While it may seem straightforward for buyers and sellers to complete a transaction once they connect on a platform, it’s the activities that happen outside the typical transaction flow that can be costly. Modern marketplaces are increasingly stepping...
Some examples of niche marketplace ideas and how they work. Hair & Beauty Services: A marketplace where salons and independent stylists offer bookings and services. Monetisation: Commission on bookings. Art Classes: A platform connecting art teac...