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Catalysts should take several factors into consideration when building the platform that brings their community together. While all catalysts thrive in a number of industries, offering a variety of different products, the challenge of product design is one they all share: How to come up with a design that solves the chicken-and-egg problem common to catalyst businesses?
Task (1). Attract Multiple Customer Groups that Need Each Other Catalysts find that expressly designing an appealing place for members of the community to get together is critical for starting and sustaining a successful reaction. Catalysts Discussed: Roppongi Hills (Tokyo, Japan), Bungalow 8, The New York Times
Task (2). Promote Interactions A catalytic reaction only occurs if members of the different groups interact with each other once they have arrived at the platform. Catalysts Discussed: Vogue, Mall of America, eBay
Task (3). Minimize Transaction Costs Successful two-sided businesses design platforms that reduce these transaction costs and thereby make it possible for their customers to interact. Catalysts Discussed: Leon (Japan), Manheim Auto Exchange, Orbitz
Task (4). Design for Evolution It is hard to forecast the evolution of catalytic reactions, particularly novel ones, dependent as they are on positive feedbacks among multiple customer groups. Catalysts Discussed: American Express, Linux, Atlantic Monthly
Platform design that draws in customers and facilitates interaction is key for catalyst entrepreneurs assembling an audience around a platform. For more on designing a catalyst for success, visit Step 3 of the Framework™
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Chapter 5: Design the Catalyst for Success 