Video course: Build a successful marketplace business

Step One

Come up with a marketplace idea

The first step of any marketplace journey is coming up with a marketplace idea. This video tells you what makes an excellent marketplace idea and, most importantly, where to find one.

Step Two

Choose a revenue model for your marketplace

To run a business, you will need a way to monetize your platform. In the second step of the course, we talk about marketplace revenue models and which one you should choose. For most marketplaces, it's commission. Watch this video to learn why.

Step Three

Constrain your marketplace to an initial category or location

Step three is about why you should constrain your marketplace to an initial category or location – and how. Even if your total available market is huge, you’re not going to win all of it overnight. So first, choose a smaller target group and build a great experience for them.

Step Four

Pre-validate your marketplace idea on both sides

Before you start building your platform, there are things you can – and should – do to make sure your marketplace is worth investing in. The fourth video in the course is about pre-validating your marketplace idea with your demand and supply.

Step Five

Build a Minimum Viable Marketplace Platform

In the fifth video of this course, you learn about Minimum Viable Platforms (MVP): what they are, why you should build one, and how.

Step Six

Onboard supply to your marketplace

Step six is about solving the chicken-and-egg problem. In the early days of your marketplace, how to get suppliers without customers, and how to get customers without suppliers? By onboarding supply first. You'll learn how to attract and onboard them to your platform in practice.

Step Seven

Launch your marketplace as early as possible

You have your suppliers on board. Now, it's time to invite customers in and start facilitating transactions. You should do that as quickly as possible. In step seven of the course, you'll learn why and how.

Step Eight

Reach problem-solution fit

You're successfully facilitating transactions on your marketplace, but how do you know if you're on the right track? By reaching problem/solution fit. In step eight, you'll learn what problem/solution fit is, why it's important, and how to reach it.

Step Nine

Reach product-market fit

Your next goal is to reach product/market fit. That means being in a good market with a product that can satisfy that market. We delve deeper into product/market fit and discuss how to reach it, what are the key metrics to track on the way, and how to build a growth engine that will help you get there.

Step Ten

Scale your marketplace to new markets

In the last step of this marketplace course, we're scaling your marketplace into new markets. Once you've reached product/market fit in your first market, you can start thinking about expanding. This video discusses choosing your next market and creating a playbook, your funding options, and what's beyond.

Conclusion

Conclusion to the video course

This video summarizes and concludes the course. Refresh your memory once more before taking the final exam.

Exam & certication

Take the final exam

You're almost at the finish line. Are you ready to test your marketplace knowledge? Take the final exam to test your learning and receive a certificate directly into your email inbox.

What's next?

Continue learning on Marketplace Academy

Congratulations! You've reached the end of the course. Thank you for learning the Lean Marketplace Method with us. Check out Marketplace Academy and the further reading sections for more great articles and other marketplace content.

Once you receive your certificate, make sure to add it to your LinkedIn profile. Or share the course on LinkedIn or Twitter!

We also appreciate feedback! Tell us what you thought about the course or what other video content you would find valuable. Reach out to us at hello@sharetribe.com.