The internet connects the world, but the companies that utilize it are truly the ones that unite us. From getting a ride and booking a vacation house on the beach to sharing photos or selling products online, we congregate on these massive online platforms to conduct our lives and business.
Many top U.S. companies are platforms (i.e., Amazon, Google, Airbnb, PayPal, etc.), yet so many others have failed (i.e., Quibi, Vine, Sidecar). What separates the winners from the losers? How can you identify a good opportunity before creating a platform?
At their core, successful platform companies identified a pain point, saw it lacked a solution and then created one that solved people’s problems.
In this article, we’ll cover ways to identify strong platform business opportunities and things to look out for.
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