Everything starts with understanding how the platform makes sense in terms of business: what are the ecosystem members willing to contribute and what kind of concrete value will they receive? Platform transactions can come in many forms, and do not always involve money. Transaction fees or subscription models are definitely not the only, or the best, solution for all platforms. The first step is to find a win-win value creation model.

The rollout plan will be unique for each platform and includes considerations, such as which ecosystem members to onboard first, what content needs to be in place first, and what markets to approach first. There are many variables to consider. The first release is always critical, which is why we pay a lot of attention to scoping and roadmapping.

Going into a platform business will require new internal activities within the company. These may include marketing, sales, training, customer support, and administration. Companies also often need to plan how to deal with specific customer requirements or customization requests.

All new business ideas are initially built on assumptions. In order to validate your idea, your platform needs to have built-in data collection and analysis capabilities. The smartest digital tools are actively evolved over time, based on performance data.