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Extracts from an excellent article by Ajay Agawal

What’s the “secret” to building a decacorn SaaS company? While there’s no silver bullet, one proven pathway blazed by pioneers like Salesforce, Slack and Shopify is to shift from product delivery to platform delivery. How do you make the transition, and what companies qualify?

Platforms Defined.

First, let’s distinguish product from platform:

  • Product = an application to solve a specific problem or use case.
  • Platform = common infrastructure essential to multiple applications.

To be clear, most companies start with a product and then build their platform over time.

Platforms harness a multiplier effect that leverages and benefits dozens, hundreds or even thousands of partners. The platform company itself gives up some control, but in return becomes much more valuable to its customers and partners. Third parties likewise gain access to data, functionality and/or distribution channels, accelerating their businesses.

Building a platform company requires a dominant application as the starting point, but making the leap has a range of strategy, technology and go-to-market implications.

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