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Hi Venturists 👋,
Did you know, in marketplaces, monogamy can be bad thing?
As a founder, it is the one thing you want to avoid. Let me explain:
When matching buyer to a seller on your marketplace, the last thing you want is for that relationship to become exclusive. Meaning: As soon as the match is made, they can fulfil future transactions ‘off-platform’.
Examples of this are: patients prefer going the same doctor, clients prefer going the same hairdresser, etc. This kills your network effects.
A 5-min TLDR on building Marketplaces:
Avoid Monogamy, is just one crazy insight out of hundreds in my new report about building & launching Marketplaces. Check it out here:
If you’re enjoying my reports, let’s create those network effects and share some of the unique insights they gave you ❤️.
If you want to reach out to me personally, I respond to all DMs on Twitter.
Until next time! 🙏🏻