What is Platform Design
Platform Design is a multi-month engagement in which Applico partners with the CEO, C-suite and dedicated client teams to identify the best platform opportunity and build, buy or partner options.
Our embedded team of proven team of entrepreneurs, investment bankers and technologists will manually hack a working prototype to prove out key aspects of the business model. At the same time, we will assess the landscape of potential partner or acquisition targets – such as existing platforms, incumbents or linear tech companies.
Through building, buying or partnering, we will provide your leadership with the best path forward to unlock the value from strategic assets inside your traditional enterprise with the creation of a new platform entity.
Design the Ecosystem
Applico will create an actionable blueprint for the core functions of your platform business. Our team will start with the core transaction, which is the engine that makes any platform run, and zero in on your target users with a combination of market research and user testing.
Validate with a Platform Prototype
Now it’s time to go to market. Applico will launch a prototype that provides live customer data on the platform’s core transaction.
Our Platform Design teams of platform innovators include experienced entrepreneurs and operators who possess the platform knowledge and experience that enables rapid iteration of the core transaction and target users. Rapid iteration based on real customer data is key to identifying the right platform opportunity in your industry.
Assess the Tech Landscape
In parallel to launching live prototypes, Applico’s team will meet the leadership of existing tech competitors who could also be considered for an acquisition or partnership. In many instances, platform businesses may not already exist in a given industry; however, linear technology companies, like a SaaS business for example, could be a viable target to acquire, gain faster traction in the market and can then be transformed into a platform. By abstracting the client’s name away from the conversation, our teams can appropriately assess the best fit in potential acquisition targets, from both a technology, but also a people and cultural fit.
Build the Business Case and Action Plan
Applico’s analyst team will model the downside risk associated with an existing modern monopoly achieving Critical Mass with a platform in your industry. Additionally, we will create a multi-case financial model for the upside potential of your platform business model over a five year horizon.
By the end of Platform Design, you will have an action plan for your new platform business, including a go-to-market playbook, technical roadmap, resourcing needs, key business KPIs and investment costs.
All of the outputs of Platform Design will be validated and based on live customer data provided by interactions with real users. To dive deeper about the concepts described here in Platform Design, check out our bestselling book, Modern Monopolies.