The Power of Platform Strategy: Lessons from Tom Preston Werner and Slack

The Power of Platform Strategy: Lessons from Tom Preston Werner and Slack

In today's age of technology and innovation, platform strategy has become a crucial element for startups and established businesses alike. Two noteworthy examples of this are Tom Preston Werner and Slack. Tom Preston Werner, the co-founder of GitHub, discussed the importance of platform strategy in his speech at Startup School 2012. Meanwhile, Slack, a messaging and collaboration platform, has significantly changed the game through its innovative approach to platform strategy. By examining the insights of these two entities, we can better understand the power of platform strategy.

Preston Werner emphasized the importance of building a platform that can be easily accessed by developers. He stated that by making it easy for developers to create applications on top of your platform, you can foster innovation and increase the value of your product. This philosophy is echoed by Slack, which has built an open platform for developers to create their own integrations. This has led to a vibrant ecosystem of third-party apps that have greatly expanded the capabilities of the Slack platform.

Another key aspect of platform strategy is creating a community around your product. Preston Werner noted that by building a strong community of developers and users, you can create a network effect that will increase the value of your platform. Slack has done an excellent job of this by fostering a community of users and developers who share tips, tricks, and best practices on Slack's various channels. This has helped to create a sense of belonging for Slack users and has led to increased engagement and adoption of the platform.

Finally, both Preston Werner and Slack have stressed the importance of continuously iterating and improving upon your platform. Preston Werner emphasized the need to be open to feedback from users and developers and to make changes accordingly. Similarly, Slack has implemented numerous improvements and new features based on user feedback, such as the ability to edit messages and create custom status updates. By constantly improving their platform, Slack has been able to stay ahead of the competition and maintain its position as a leader in the messaging and collaboration space.

In conclusion, the insights of Tom Preston Werner and Slack demonstrate the power of platform strategy in today's tech landscape. By building an open platform that encourages innovation, creating a community around your product, and continuously iterating and improving upon your platform, businesses can increase the value of their product and stay ahead of the competition. As technology continues to evolve, it is clear that platform strategy will remain a crucial element for businesses looking to succeed in the digital age.