Very often we are asked if eGrowth is a marketplace, so we went about looking at what is eGrowth. We looked at some of the words which identify with what eGrowth is all about. In this article we are sharing some of the findings
We looked at what is the meaning of the word ‘marketplace’
MARKETPLACE – A market, or marketplace, is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods.
In the online world marketplace is taken to be a platform where buying and selling happens. At eGrowth our members are the buyers and sellers.
We looked at what another word ‘ecosystem’–
ECOSYSTEM – An ecosystem is a community made up of living organisms and nonliving components such as air, water, and mineral soil. Ecosystems can be studied in two different ways They can be thought of as interdependent collections of plants and animals, or as structured systems and communities governed by general rules.
In our context an ecosystem consists of buyers, sellers, infrastructure, applications, know how and a lot more. At eGrowth our members are the buyers & Sellers, The applications – Profile, Business Portrait, Events, Blog, Forum are the infrastructure. The community shares information as Blogs, Q&A and these
And we looked at another term – ‘platform’
PLATFORM – There are three elements to a successful platform business model.
The Toolbox creates connection by making it easy for others to plug into the platform. This infrastructure enables interactions between participants.
The Magnet creates pull that attracts participants to the platform. For transaction platforms, both producers and consumers must be present to achieve critical mass.
The Matchmaker fosters the flow of value by making connections between producers and consumers. Data is at the heart of successful matchmaking, and distinguishes platforms from other business models.
At eGrowth we have a set of tools – Profile, Business Portrait, People Search, Business Search, Opportunity Search, Community, Blog, Discussion Forum. The Magnet is Connections, Notifications, Email, The Matchmaker is Opportunities, Forum, Blog, Events
There can be many more words which have similar connotation. We would think at this stage of evolution, eGrowth is at a cusp between an ecosystem and a platform. Do extract all what is of value to you.
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