The 5 Pillars of a Platform Business

Compared to traditional market, a platform business model capitalizes on the interaction between producers and consumers. There is no need for a business to physically produce a product that will be distributed. Rather, it makes use of the internet to facilitate exchanges, and consequently, create value.

AirBnB is an example of a platform business

If you’re interested in jumping into the bandwagon, you need to understand the basics that make a platform business successful. For a better understanding of a platform business and how to succeed in its adoption, you might want to consult with the professionals working at http://ift.tt/2bsOmeY. But to get you started, the following guide covers the basics; here are five pillars of a platform business:

1.



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