I recommend to follow the attached #Journey

1.Type of platform: Be aware of the type of platform you will build (#InnovationPlatforms #TransactionalPlatforms #UCG #HybridsPlatforms) so different strategies should be followed.

2. Detect Building components: Identify your Value Units and the correspondent stakeholders, as producers and consumers. The most important is to well define the Core Interaction (is the set of actions both producers and consumers perform repeatedly to exchange the value unit. 🤓 http://platformed.info/the-core-interaction-platform/

3. Detect defensible mechanism: Put in place your defensible mechanism as brand effect, embed effect, scale effect, and #networkeffects. Make a deep focus at the #networkeffects, which type should apply to your platform 🤓https://www.nfx.com/post/network-effects-manual/

4. How to launch a platform: attract the hardest side first, start on a specific niche. You can use different ways: Seeding (Build one side gradually with a market fit offering), Piggybacking (tap into an existing network), Standalone (Build a product first), Markee (Partner with someone who has a large user base)

5. Platform monetization: chose which monetization strategy you will follow (Pay for tool or service, Pay for access, Pay for transaction)

There are different tools that guide you on this journey, I love to use the Canvases of the Platform Innovation Kit 🤓 https://platforminnovationkit.com/

Validate idea> create MVP> profe traction and prove of concept > Launch it solving the chicken egg problem> scale it. But depends on the type fo platform you are building... innovation platforms behave different than marketplaces or social networks...

Every platform should start with the aim of enabling interaction between participants, the producer and the consumer. It is the exchange of value that attracts users to the platform. The platform also needs to enable the creation of a value unit.