Startup Funding Espresso Benefits of a Platform-Based Approach
Benefits of a Platform-Based Approach Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. A platform-based approach to your business brings many benefits\xa0 Platforms make it easier to use a recurring revenue model.\xa0 Investors appreciate the value of this revenue model. It brings predictability to the forecast and makes it somewhat easier to manage the business and raise funding. With three metrics, cost of acquisition, churn rate, and growth rate you know how well you are doing.\xa0 There are other benefits to a platform-based approach. By focusing your development on one platform the product gets better every day increasing your reach to new customers and keeping existing ones. It also reduces your cost because you are continually adding to your base platform and not spending resources creating new products from scratch. It helps you focus your team as everyone works on the same platform,\xa0 reducing distractions. All development results are available to all customers so there\u2019s no resource spent on porting features to other products. Platforms bring efficiency and revenue gains compared to the individual product approach. Consider focusing your product development on a platform. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .