Components of a platform strategy
The components of platform strategy are like building blocks. Once we understand them individually, creating the strategy is like putting these blocks together to create a structure. The following diagram illustrates all the components of the platform strategy; let's look at them in detail:
Figure 4.5 – Components of a platform strategy
The preceding diagram consists of the following components:
- One-side or multi-side focus: This is the first step in defining the platform strategy, and it is selecting one of the combinations of the business and platform strategies. Based on the type of platform and the chosen business strategy, we should decide whether to focus platform growth on the producer side, the consumer side, or both.
This is the most crucial and foundational step in defining the platform strategy. All the subsequent steps and components, such as building the capabilities, and deciding the...
