Any Transaction Has Two SidesJanuary 31, 2016 2:00 am
Most internet companies are basically intermediaries – they facilitate a transaction and take a small part of the transaction. It is a proven way to make money for any business, and as new ways to reach people are invented, new intermediaries will emerge on that medium.
Here is an important thing to remember when you try to solve a problem and position yourself as an intermediary – try to solve the problem for both sides. Take Uber as an example. New ways of making money for drivers and push a button, get a pickup for the users. Or, take Amazon’s small business solutions – click and buy for customers, sell with no setup for the businesses. How about AirBnb?
It is an obvious point but well worth remembering – if you keep both sides of the transaction happy as you move your product forward, your probability of success would increase exponentially.