ITT 074: How to Build a Platform-based Business with Sangeet Paul Chaudary

Sangeet Paul Choudary is the Founder and CEO of Platform Thinking Labs, and the author the the number 1 bestseller “Platform Scale.” Sangeet is also the co-chair of the MIT Platform Strategy Group at MIT Media Labs, Boston, a Global Fellow at the Centre for Global Enterprisein New York, a speaker at the G20 Summit 2014 in Brisbane and an advisor at 500Startups in Silicon Valley. At the G20 World Summit 2014, Sangeet was hailed as a forefront researcher into how businesses can better use metadata and current technology. He has advised C-level executives globally on platform and network strategies, has been featured on leading media globally and has lectured at the world s leading universities.

In this broadcast, Sangeet and I talk about:

• Traditional business models vs. supply based business models vs. the modern business model
• Which part of a new business should work traditionally and which part should work like a platform?
• Two ways to think about about platform building, whether you’re starting from scratch or already have a customer base]
• Why platforms are important and how to approach creating them
• How to build it
  1. by yourself
  2. leverage another platform (the downside: the core value of a platform is data, and if you leverage another platform, you don’t get the core value)

Sangeet on building a portfolio business:

“Moonshots always work in a portfolio business model – try 10 things and 1 will work out.”

How to find Sangeet Paul Choudary online:

• Platform Scale on Amazon
• Platform Tinking

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