By Alan W
Building a platform or marketplace can be a game-changer, but success doesn’t happen by chance. Before you dive in, it’s essential to have the right foundations in place. That’s why I created the Platform and Marketplace Readiness Checklist - a simple tool to help you assess whether you're set up for success or need to fine-tune your approach.
Here’s a preview of what you should be thinking about:
1. Clarifying Your Business Model
Do you understand the difference between a hybrid, on-demand, and marketplace model?
Have you identified which platform type aligns with your business goals?
How will you create value for both buyers and sellers?
2. Attracting the Right Users
Do you have a clear target audience?
How will you onboard and retain buyers and sellers?
What incentives will encourage engagement and transactions on your platform?
3. Technology & Platform Infrastructure
Will you build your platform from scratch or use existing tools?
How will you handle transactions, communication, and trust between users?
Do you have a plan for scaling your technology as your platform grows?
4. Monetization & Revenue Streams
What’s your primary revenue model (commissions, subscriptions, listing fees, etc.)?
Have you tested pricing to ensure it's competitive yet sustainable?
How will you manage payments and commissions between users?
5. Growth & Marketing Strategy
How will you attract your first 100 users?
What channels will you use for marketing (SEO, content, partnerships, paid ads, etc.)?
Do you have a strategy for network effects to drive organic growth?
6. Legal & Operational Considerations
Do you have terms and conditions in place to protect your platform?
How will you handle disputes between buyers and sellers?
What are the key legal and compliance requirements for your industry?
Get the Full Checklist – For Free!
This is just a glimpse of what’s inside the Platform and Marketplace Readiness Checklist. If you're serious about building (or refining) your platform, grab the full version - it's free! Send us an email and we'll send you a copy! Mail us at alan@dna.co.za
→ Work with Alan W
Illustrator: Lisa Williams (Instagram: @artist_llw)