Patience Pays Off: Corporate Lessons from Startup Valley Crowdfunding | MyPaperHub

Unveiling Success Strategies: Insights from Startup Valley's Platform Business Journey

 

One of the corporate lessons learned from the article is patience. Startup Valley Crowdfunding Company provided a great opportunity for Bryant and his partners. It was a high-risk business that guarantees high revenue. However, like many business bubbles, the deal felt too good to be true. It is for this reason that Bryant opted to sit back and be the second in the market and dedicate the time and patience to learn and gather more information about the business before he started. As an internet platform business, the Startup Valley provided great opportunities for a wider market in the form of both investors as well as entrepreneurs. This would also provide great opportunities for profit.

The cases mention three important strategies that need to considered and applied when starting a platform business. One of the strategies includes facilitating trust and reducing costs needed for operation. Platform businesses require the use of the internet. For crowdfunding, such business deals with a lot of money and success will depend on the level of trust established between the business and the customers. Developing trust include activities such as vetting.

The second strategy involves determining which side of the platform to charge and which side to offer incentives. This is a strategy that would allow the value of one side while at the same time the popularity of the other would rise. This is a strategy that would provide funds for turning the platform and at the same time can ensure the parties involved reinforced one another. The last strategy involves finding ways to attract a large number of customers. Crowdfunding business requires a large customer base and finding ways of attracting a high number of customers would prove the success of the business.

Amazon Inc. is a good example of a platform business that connects producers and consumers through its online platform it is a business that has revolutionized the retail business by enhancing e-commerce. It has attracted a large customer base from both manufacturers and consumers, has developed high trust with products sold through it having high credibility and has subsidized consumers by offering a lower price at the cost of manufacturers who pay the fee for selling products using the platform.


 

Works Cited

Zhang, Yanli. "START-UP VALLEY: Platform Strategy In Equity Crowdfunding." Ivey Publishing (2017).

 

 

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