Build a Platform: Automate and Scale Your Business

If I were going to start another company today, it would be a PLATFORM business.

A startup with great Interfaces that allows other entrepreneurs to build their business on top of mine. One that allows them to make money as I make money. It’s a win-win proposition and most of the top players from Uber to YouTube have done this.

So, what’s the key to building a platform company?

The answer is: Interfaces, the next attribute in the ExO model.

Interfaces are the bridge that brings together your company’s external and internal components and connects them to your users. Interfaces (or APIs) allow for Community & Crowd to engage. They take the complex data created by an ExO and make it simple and meaningful, accelerating your growth.

In today’s blog, we’ll explore the power of APIs to enable a platform, show several case studies of leading companies using Interfaces, and provide a few ideas on how you can use Interfaces in your business to build yourself into a platform.

As our first example, consider the EPIC SUCCESS of Shopify: a company that mastered this ExO attribute to the tune of a multi-hundred-billion-dollar valuation.

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