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Platform Economics by Mind Map: Platform Economics
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Platform Economics

Three Key Principles of Platform Design:

Start with defining the value that is created or consumed, the Core Value Unit.

The Core Value Unit should lead to the actions that enable the creation and consumption of that value.

Only in the last step should one go about designing the system and interfaces that enable those actions.

Rule of thumb: If you are a new platform and you’re designing for more than one core interaction, you’re toast!

Frank Schultheiss - based on Platform Thinking Labs Articles by Sangeet Paul Choudary www.schultheiss.tv

The Core Interaction

set of actions that producers and consumers engage in repeatedly to derive value.

All actions in the core interaction fall into one of the buckets: Creation, Consumption, Curation

The Three Design Elements for Designing Platforms

The Core Value Unit

e.g. a listing for a marketplace or a video for youtube

The Interaction

a set of actions involved in the creation and consumption of value

The Platform

a network and an infrastructure that enables this interaction

The Core Metrics for Platforms

measure and optimize the Core Interaction.

content which gets a minimum engagement

From Transactions to Stickiness: Marketplace 3.0

The Problem: Buyers rarely use the marketplace except when they actively need something. If buyers don’t return often, sellers do not see much action on the marketplace. This, in turn, may discourage sellers form participating on the platform

Six key mechanisms to an engaged and ‘sticky’ platform

Focus not just on transactions but on strengthening of network effects

Three Elements of a Successful Platform Strategy

The success of a platform strategy is determined by three factors:

The Toolbox

The Magnet

The Matchmaker

What is it?

An approach to enable external value creation to scale existing or build new business

Platforms power co-creation by users and extension by developers.

The phrase "Platform Thinking" was coined by Sangeet Paul Choudary

Scaling an Online-Plattform

Scaling Quantity: Creation

Scaling Quantity: Consumption

Scaling Quality: Curation

Scaling Quality – Overall Governance

Growth Hacking Strategy

It describes tactics and processes to help you increase your numbers.