The Most Important Factor For All Tech Startups
Facebook, Instagram, Uber, Google, Airbnb, Paypal are all successful platform rights?
There is a fundamental thing that makes them all hugely successful, powerful, lucrative. It is the network effect, which makes them to scale up exponentially.
Never think about compete with them! It is even very difficult to try to get rid of them. Why?
In Facebook, I still have around 1500 online friends, around one tenth of them are acquaintances, 50 of them are my true friends and convincing all of them to move with me to anotherplatform is an impossible mission. The rest, the same.
Do you know Peter Thiel?
The co-founder of Paypal, the investor of Facebook and probably the mentor of Mr.Zuckerberg, once said:
“Paradoxically, then, network effects businesses must start with especially smallmarkets. Facebook started with just Harvard students—Mark Zuckerberg’s first product was designed to get all his classmates signed up, not to attract all people of Earth.”
So, Mark Zuckerberg built the network effect.
Perter Thiel did it.
Larry Page and Sergey Brin did it.
1. As an entrepreneur, how can you build the network effect for your application, your start up?
2. How can you detect which types of network effect to apply to your application?
3. What is the strategy to ignite the catalyst for each type?
Those questions are needed to be asked by your consultants before you decide which vendor should you go with to build your digital business. At InApps Technology, we do care about your digital business so we will carefully consult and articulate the frameworks which helps you to think strategically the way you will build the network effect.
Besides, we also prepare the infrastructure for your applications to scale up frictionless. Click here to read more about our support or you can email us via email@example.com | firstname.lastname@example.org