Building a Successful Platform: Insights from Strava and ERRC Grid

Building a Successful Platform: Insights from Strava and ERRC Grid

Introduction:

In today's fast-paced world, where technology has become an integral part of our lives, it is no surprise that innovative platforms like Strava and ERRC Grid have gained immense popularity. Strava, a fitness tracking app, continues to attract millions of new users every 40 days, while the ERRC Grid provides a unique approach to starting a business in an uncontested market space. Through examining the success of these platforms, we can gain valuable insights into building a successful product or service.

The Power of Community:

One of the key factors contributing to the success of Strava is its strong sense of community. Users don't just download the app; they join Strava. This highlights the importance of fostering a sense of belonging and connection among users. By creating a platform where individuals can share their fitness activities and achievements, Strava has tapped into the innate desire for social validation and support. This idea of community can also be applied to other platforms, such as Glasp, where the goal is to create a home for active learning.

Staying True to the Mission:

Both Strava and ERRC Grid emphasize the importance of staying true to their original mission. Strava's CEO, James Quarles, emphasizes the need for a "North Star" to guide the company's growth and decision-making process. Similarly, ERRC Grid advocates for eliminating conventional features that have no impact on the customer base and focusing on aspects that provide unique value. By staying focused on their core mission, these platforms have been able to build a loyal user base and differentiate themselves from competitors.

The Role of Non-Conformity:

ERRC Grid introduces the concept of non-conformity and its impact on a company's performance. The relationship between non-conformity and performance is curvilinear, suggesting that moderate non-conformity has a significant positive impact on a company's performance. This aligns with the idea of diverging from conventional norms to create a unique value proposition. By challenging the status quo and thinking outside the box, companies can disrupt industries and attract customers.

Actionable Advice:

• 1. Prioritize community-building: Take a page from Strava's book and focus on creating a strong sense of community among users. Encourage interaction, provide opportunities for social validation, and foster a supportive environment.

• 2. Stay true to your mission: Define a clear mission statement and use it as a guiding star for your company. Make deliberate choices about what to include and what to exclude from your product or service, keeping simplicity in mind.

• 3. Embrace non-conformity: Don't be afraid to challenge conventional norms and think differently. Identify areas where you can diverge from the industry standards and create unique value propositions that set your platform apart.

Conclusion:

Strava and ERRC Grid offer valuable insights into building successful platforms. By prioritizing community-building, staying true to their mission, and embracing non-conformity, these platforms have achieved remarkable success. Whether it's the fitness tracking industry or an unknown market space, the principles and strategies employed by these platforms can be applied to any business endeavor. By understanding the power of community, staying focused on a clear mission, and embracing innovation, entrepreneurs can pave the way for long-lasting global companies. Remember, if it's not on your platform, it didn't happen.