Do you run an online marketplace or you are in the process of starting one? Online marketplaces have been dominating the startup scene for a while now, a space dominated for years largely by companies such as eBay and Craiglist (CL). Uber, Airbnb, Odesk, Grubhub, OpenTable, NextDoor etc. are examples of such Startups and they are all running successfully today by focusing on one of the many categories the giant marketplaces (eBay, CL) runs.
If you are already running a marketplace, you know the difficulties involved in successfully managing one. Because it usually involves two different sides (buyer and seller), achieving liquidity to become profitable and future-proof your platform remains a challenging task. If you are in the process of starting up, it is better you are well informed on how to run a successful marketplace right from the start. Is your marketplace going to be vertical or horizontal? Which process will you centralize or decentralize? What criteria should you use in evaluating your marketplace? How do you achieve liquidity fast? How do you structure your startup to avoid the common marketplace mistakes?
All these questions and many more are answered in the following article published on the Founder Institute’s blog. The piece contains 10 must-read articles on building and running a two-sided marketplace startup. The Founder Institute is an entrepreneur training and startup launch program that helps aspiring founders across the globe build enduring technology companies.
Click here to access this publication and kindly share your comments on the articles, or lessons learned in the section below. Your opinions are highly valued and can help inspire the next startup entrepreneur.