The budding startups should understand few key points, before creating any interactive platform. Many companies like Uber, Facebook and Airbnb are highly popular these days, as they have created platforms for the users. These platforms help the users in one or the other ways.
Hence, for every startup firm looking to create a platform, it is necessary to keep certain points in mind:
It should be understood that platforms are driven by usage. Hence, before thinking about the features of the platform; think about its usage; think about how the platform usage by one person would drive the usage by other person.
Excess of anything can be bad. So, make sure that you do not provide too much of participation. It is good when there is a perfect system to collect and manage data.
It is very important to provide self-reinforcing feedback loops. Most of the entrepreneurs lack, just at this point. They create superb product decisions, but fail to create the feedback loops.
It should be kept in mind that every time, the platform or product is used by the user; he or she should feel more value than before.
So, before you actually think of creating new platforms, you must keep all the major facts in mind. Also, consider the data as the biggest asset.
According to a report, there are top 5 business leaders or business tycoons who are multilingual, i.e. they speak multiple languages.
It has been found that the most successful business man in America have become multilingual. This is the reason behind their success. Not just being multilingual helps in someone success, but it also helps in other ways.
Actually, being multilingual or bilingual improves the brains functions. It helps one stay focused, perform a number of tasks easily and even switch between the tasks. So, everyone must atleast be bilingual, just like these global leaders:
Paul Bulcke has command over German, Dutch, Spanish, English, French and Portuguese. According to him, being multilingual helps in connecting and coordinating with the employees, peers and customers.
Leo Apotheker holds command over 5 languages. This expertise helped him to be chosen as the CEO of Hewlett Packard. Because of his wide knowledge in the languages, he became extremely successful and boosted the career prospects.
This businessman is fluent in English, French and German. The English language served him with great positions, like chief executive at Prudential and partner at McKinsey.
Mark Zukerberg is remarkably known for his fluency in English and Chinese language. He needs no words to explain his success. Every single person knows about his achievements. Few months back, he even met Narendra Modi, the Indian prime minister and both had an amazing session.
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Michael Bloomberg is fluent in speaking English and Spanish language. Expertise in Spanish language is always considered to be an advantage in the US.
So, it is evident that learning or understanding a new language is very important, if one wishes to move ahead of others in his career.