1. Understanding Core Interactions
- Identify the key actors (e.g., buyers and sellers, creators and consumers).
- Define the value proposition for each group and the mechanisms through which they interact.
2. Optimizing Key Functions:
- Pull: Attract users to join and participate.
- Match: Facilitate seamless connections between parties.
- Facilitate: Enable smooth transactions and interactions.
3. Fostering Network Effects:
- Design for scalability, where the value for one group grows as others join.
- Balance same-side and cross-side network effects to prevent negative user experiences.
4. Ensuring Governance and Trust:
- Establish clear rules and systems to manage quality, disputes, and data security.
- Build transparency and trust among participants.
5. Building for Growth and Resilience:
- Incorporate flexible systems to adapt to new users, features, and market changes.
- Design strategies for seeding, scaling, and sustaining platform engagement.
6. Decide openness angles and level:
- Identify openness angles and level.
- Define timing for openning aspects of the platform