Network effects can be scaled by focusing on the smallest network needed to sustain the product. The size of the initial network varies depending on the product. For instance, for a platform like Slack, a small team within a company is enough for the platform to work. However, for products like credit cards, a larger network is required. For example, when the credit card was first launched by Bank of America in 1958, it was done so across the whole of Fresno, California.
When a networked product launches, it faces a chicken-and-egg problem: people need to use it for it...
View summary