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Chapter 6 | Platforms Guidebook

Apply Platform Thinking

By creating a mindshift and connecting available resources and social currency, a platform generates network effects to achieve 10x results and advance Shared Purpose.

The last chapter of this Platforms Guidebook is about applying platform thinking by designing your platform model.

Elements of a platform thinking model

To design the structure and function of a platform, consider each of these elements.

By creating a mindshift and connecting available resources and social currency,  a platform generates network effects to achieve 10x results and advance Shared Purpose.

For more on social currency and Shared Purpose, see the “Read More” section at the end of this chapter.

Examples of platform thinking models

WeWork

WeWork connects the physical things associated with working in an office—buildings, rooms, desks, chairs, etc.—into coworking spaces for the gig economy.

Network effects are generated by connections and community among those who share the larger workspace. WeWork promotes these connections through their web platform and community programs and events.

Examples of platform thinking models

John Deere

John Deere has networked their tractors and other farm machinery by equipping them with sensors and linking them via the Internet of Things.

Machinery  captures information about farming conditions, shares it with other machines which analyze it using artificial intelligence to recommend ways to optimize outcomes.

Exercise

Your platform elements

Use this worksheet to experiment with your vision for a platform model.

For each platform, write down the elements of that model that correspond to each of these categories:

  • Platform
  • Mindshift
  • Available Resources
  • Network Effects
  • Social Currency
  • 10x Results
  • Shared Purpose

Recap

To design the structure and function of a platform, consider each of these elements.

By creating a mindshift and connecting available resources and social currency,  a platform generates network effects to achieve 10X results and advance Shared Purpose.

Go deeper

For more on social currency, read “Generating Brand Gravity” by Mark Bonchek

For more on Shared Purpose, read “Find Your Shared Purpose” by Mark Bonchek

"The 7 P's of Digital Platforms"  by Mark Bonchek

“Transforming Harvard Business Review: An Exercise in Platform Thinking”  by Mark Bonchek

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