For any executive contemplating an investment in the popular platform business model, Context Partners CEO, Charlie Brown, recommends focusing first on the relationship strategy, not the technology. Here’s a preview of the recent Harvard Business Review feature.
Online or off, Avon and Amazon each have a strong network strategy for the relationships that form on and around their platforms. A network strategy is a plan that aligns business goals to a shared purpose, identifies the functional roles most critical in the platform, and outlines the interactions and rewards required to sustain the resulting relationships. An effective network strategy enables the success of a platform, regardless of the role of technology.
In response to platform pressures, executives who are focused on a network of relationships instead of technology tools need to consider three questions…
Read on at HBR.org for Charlie’s 3 questions and examples of successful platform players.