The Flywheel model is very important business concept in modern digital businesses. Amazon is built on that. This video explains how Amazon has grown using that concept, integrating synergy and vision in the whole nexus. I have already noted the One Oasis strategy which captures all at the higher level. Simply, if you run a platform business, you essentially have one product which is a platform. By doing all necessary to keep that positive continuum growing, you would continue to do well. The best product in Facebook is that it has many people. Every other thing is largely irrelevant. So, for Facebook, provided it can continue to feed that platform, bringing more people and making the product better, it would continue to find success. Physical flywheels store rotational energy; digital businesses built on flywheel concept improve future customer experiences by using past understanding of the customers.
“The Flywheel” is a very useful analogy for implementing business strategy created by Jim Collins. It describes how driving a new strategy is like getting a huge flywheel into motion. Initially, there is no movement – many people think that the strategy is absurd – it is almost impossible to imagine the flywheel at speed.
Click to join Tekedia Capital and build Next Africa with min of $10,000 co-investment in startups.