An ecosystem leader needs to know what type of partners it needs. What set of capabilities will be needed to get a positive spiral of innovation, learning and growth in the ecosystem.
An ecosystem leader needs to know what type of partners it needs. What set of capabilities will be needed to get a positive spiral of innovation, learning, and growth in the ecosystem.
The potential partners will need to understand what is in it for them when joining the ecosystem. Therefore the ecosystem leader needs to articulate a set of strong value propositions that will entice partners.
We argue that you need to create a ‘honey pot’ to attract partners. In our case study on Alibaba, we describe how they use the close 100 million transactions per day that go through the Alipay platform to build an ecosystem in financial services.
To attract the right partners there also is a need for clarity on how the value will be shared. But the ecosystem leader must ensure that it can protect its fair share of that value. In this process, the ecosystem leader needs to ensure that it has a keystone i.e. an asset or a capability that is key to the value creation and for which it can charge money to protect its own interests.