Business models are changing

Digital is driving a new co-creation agenda where customers, partners and even suppliers are creating their own value by using your business assets, data, and services in the ways they want.

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Turn business into a platform

Application Programming Interfaces (APIs) are the ‘connector bits’ that make it possible for businesses to open up their data, assets and services so that consumers and partners can plug into them directly and configure their own value chain.

APIs help you turn your business into a platform that connects: Those who are producing new tools and services from your business assets and data with end consumers who want more customized, personalized products that make use of your assets and data.

Building a successful platform is hard work and requires thoughtful strategy

But it is work that can’t be avoided. All businesses across all sectors are grappling with how to become a successful platform.

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“Firms that fail to create platforms and don’t learn the new rules of strategy will be unable to compete for long”

MARSHALL W. VAN ALSTYNE, GEOFFREY G. PARKER & SANGEET PAUL CHOUDARY

Harvard Business Review, April 2016

Mapping helps strategy succeed

Mapping includes:

  • What tools are available
  • Who are the market stakeholders
  • What are the proven best practice approaches to take
  • How businesses are effectively transforming into platforms
STRATEGY

Platforms grow due to network effects

Network effects are when some businesses are producing new tools and services with your business assets, data and services and are bringing their products (built on your platform) to new consumers. Network effects happen when consumers create their own value and show their peers and their own networks what they have done and encourage others to connect with you (and your platform).

Platforms that value relationships can foster network effects

Good feedback loops with platform users, healthy engagement and useful matching between those producing and consuming on your platform, and avoiding congestion and misbehavior within a platform can all cultivate positive network effects.

RELATIONSHIP SUPPORT

Platforms are more than a buzzword

But with all this talk of platforms, it can sound like a trend rather than a complete business paradigm shift. Attending events and meeting other businesses that are leveraging APIs to transform into platforms is essential for connecting with peers, learning from proven best practice, and building new relationships with stakeholders who share your values and drive.

COMING EVENTS

Cities are becoming platforms

Platforms make sense in a digital environment where consumers are more demanding of their independence and want to access the services and features that give them value, even if that means creating those services themselves or with partners outside your current platform ecosystem.

Citizens and city visitors are demanding that a city act more like a platform

Services need to be be assembled by a wider range of producers, with local residents and city visitors involved in the creation process. City data, assets and infrastructure need to be open to a new generation of local business opportunities and for citizens to access as part of a transparent, participatory government model. Not-for-profit and community groups need to be able to partner with city authorities in new ways to advocate and meet their constituent needs and to ensure their constituents can participate in the solutions that impact on their lives.

 

CIVICH TECH PROTOTYPES

Let’s work together on building a new approach to business, cities and community organizations.
Let’s be Platformable.

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