Network effects

Check out this speaker list - Chris Howie, Peter Law, Danny Thomas, Nigel Kerin, Prof Richard Eckard, Jess Cavanagh, Jeremy Hutchings, Neville Brady, Vic Dohle, and Jeff McDonald. All these speakers will deliver so many takeaways for Farmers. The event is "The Business of Farming". Friday, March 3rd, 2023 in Bendigo, Victoria. For an agenda and to buy tickets, click here. See the flyer below.

By Dwain Duxson

Network effects: Our Farm Tender platform is a marketplace. With marketplaces, you need buyers and sellers. And the more buyers and sellers you have, the better the marketplace works. It's bloody hard to get marketplaces up and running. It's a bit of a chicken-and-egg scenario.

No sellers, and you don't get listings, no listings and buyers aren't going to come. Network effects will determine if a marketplace will be successful or not.

So what are network effects? Network effects are the incremental benefit gained by an existing user for each new user that joins the network. Every additional user to the platform creates a stronger marketplace. Facebook is a good example. The more people that join the platform, the better the platform works. Some would argue with that....

So for us, selling stuff for you guys will be determined by the number of buyers that are looking for the things you have to sell. Eyeballs are the key. We chatted about how we got the Farm Tender marketplace started back in March 2012 on the "Profitable Farmer" podcast recently. Take a listen here.

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