Prerequisites to start the transition
Assume that after all the research, analysis, and validation, you have concluded that it is viable for you to transition from a linear business model to a platform model; the question is how will you execute this transition and where should you start?
Before you start executing the transition, there are certain details that you should understand and identify, such as which is your stronger side, what your core capabilities are, and so on. Let's go deeper into understanding what the aspects are that you should know and define as the first step in executing the transition to a platform business model:
- Know your core offering: When you have a linear business, over the years, you will have developed many offerings for your customers. But when you want to transform to a platform model, you should focus on your core service or offering and start with that rather than platforming multiple services and offerings simultaneously. For example...
