Transitioning to a Hybrid Business Model for Growth PPT

This PPT slide, part of the 22-slide Products to Platforms Transformation PowerPoint presentation, emphasizes the importance of adopting a hybrid business model when transitioning from a product-centric approach to a platform-based strategy. It highlights a common oversight among firms: while they may start leveraging external products on their platform, they often continue to prioritize their own product offerings. This can limit their potential to fully capitalize on the benefits of a platform mindset.

The content is structured around 2 case studies: LEGO Mindstorms and Apple. LEGO Mindstorms illustrates how a company inadvertently transitioned to a platform model after a security breach. Initially, their response was defensive, focusing on protecting their product. However, through reflection, they recognized the opportunity to transform their software into a platform, which ultimately increased user engagement and sales volume.

Apple's example mirrors this journey. After the launch of the first iPhone, Apple initially restricted third-party applications due to security concerns. Eventually, they shifted their stance, embracing an open platform by launching the App Store. This strategic pivot not only diversified their revenue streams, but also enhanced user experience and engagement.

The slide concludes with a note on how hybrid models can create significant additional income and revenue opportunities. The takeaway here is clear: organizations must consciously shift from a product mindset to a platform mindset to unlock new avenues for growth. Ignoring this transition can lead to missed opportunities and unintended consequences in their business strategy.

This slide is part of the Products to Platforms Transformation PowerPoint presentation.

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