Platform effect: your performance depends on the platform
Key insights
Platform effect: your performance depends on the platform。Starting a business independently means taking on 100% of the risk。Try it first; don't have both of you leave at the same time。
5.1 Platform Effect
Misconceptions
- Overestimating yourself:
- The performance is your own
- You can operate independently
- You can replicate your success after leaving
- Overestimate your capabilities
- Underestimate the platform
- The actual situation:
- The customers belong to the platform
- The brand belongs to the platform
- The supply chain belongs to the platform
- The reputation belongs to the platform
- You are only 10%
5.2 Entrepreneurial Risks
Risk Comparison
- Working for someone else:
- Bear 10% of the risk
- Guaranteed income regardless of conditions
- The platform has your back
- Stability
- Entrepreneurship:
- Bear 100% of the risk
- Bear your own profits and losses
- Have your own back
- High risk
Recommendations
- Don't leave the platform together with another person:
- The risk is too high
- Putting all your eggs in one basket
- Try it out first
- Have one person remain on the platform
- Try it out first:
- Devote some of your time to a side business
- Test the market
- Build up a customer base
- Validate your capabilities
- Then decide whether to go full-time
Key quotes
- "Platform effect—your performance is based on the platform."
- "Going independent means taking on 100% of the risk."
- "Try it first—don't both quit at the same time."
- "Your clients belong to the platform, not to you."
- "Validate it as a side project before deciding to go full-time."
Practice checklist
- ☐ Assess your actual abilities
- ☐ Identify the platform's value
- ☐ Try it as a side project first
- ☐ Build up a customer base
- ☐ Go full-time after validating it