Redesigning the business model: from one-sided to multi-sided

摘要

Our research provides a first response concerning redesign operations that enable transitioning from a one-sided to a multi-sided business model. We show that: ■ the redesign of a business model by implementing a digital multi-sided platform is a good way to find new sources and processes of value creation; ■ the reformulation, extension and/or creation of new complementary value propositions in a multi-sided perspective is a good way to access new users and consumer groups; and ■ the connection of user groups to fill complementary expectations and definition of an appropriate price structure is a good way to profit from direct and cross-side network effects. The six redesign operations and the three steps of the process can also be a source of strategic reflection and action for managers who want to expand and consolidate their business by profiting from a multi-sided strategy. However, designing a multi-sided business model also implies two new capabilities: agility and speed, to continuously develop and test the platform, the model and the market. Managers must apply the agile method to the whole of the organization and use the cognitive power of the model to consider different scenarios of change from one-sided to multi-sided. The redesign process provided is a cognitive and practical framework in which managers can test, combine and recombine several redesign operations to find the best way to develop a multi-sided strategy. Of course, developing a multi-sided business model is thus a process of change management, and further research will be necessary to identify and analyse the process of change, especially in the firm, or the resources and competences needed to support this change. Finally, the development of a multi-sided business model is not restricted to only rich start-ups or large companies. This strategy, with the help of redesign operations, seems possible for SMEs which have already built a solid one-sided model with a platform for products and/or services.