{"id":18005,"date":"2023-05-05T05:37:21","date_gmt":"2023-05-05T03:37:21","guid":{"rendered":"https:\/\/mindset.swiss\/?p=18005"},"modified":"2024-04-25T18:45:42","modified_gmt":"2024-04-25T16:45:42","slug":"how-to-reduce-risk-and-increase-success-in-marketplace-business","status":"publish","type":"post","link":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/","title":{"rendered":"How to Reduce Risk and Increase Success in Marketplace Business?"},"content":{"rendered":"\n<p class=\"has-text-align-center wp-block-paragraph\">Validating your marketplace idea is an important step in building a successful online platform. You have now crystallized your idea and chosen a viable business model for it. At this stage, you are likely eager to start building your online platform and launch it as soon as possible. Intuitively, this makes a lot of sense, the final validation of your business will happen only after you have launched the platform and have people using it.<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">However, there are a number of things you can\u2014and should\u2014do before writing the first line of code, hiring anyone to build the platform or even using a turnkey solution like Sharetribe to launch it. It is possible to pre-validate many assumptions about your idea and business model without having a platform at all. In blogpost, we will go over why and how you should do it.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Why do you need to validate your online marketplace idea?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Validating your idea is essential before starting to build your online platform. Many marketplace startup teams waste time and money developing \u201cdesert platforms,\u201d which are well built but fail to generate traction. This usually happens due to not validating the business idea and strategy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Entrepreneurs tend to fall in love with their own ideas and easily ignore feedback from users, especially if it conflicts with their original idea. Many fall victim to the \u201centrepreneur illusion\u201d: if we only work hard, we will eventually succeed. However, if the idea is no good, no amount of hard work will make it better.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As agile and lean coach Henrik Kniberg puts it, instead of maximizing output, you should maximize value. Validating your idea will help you maximize value by ensuring that you are building a platform that solves a real problem for your users. By doing so, you will save time and money by focusing on the right things and avoid building the wrong things.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">What you should validate?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When it comes to validating assumptions, there are several things you should focus on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Target audience<\/strong>: Make sure you have a clear understanding of your target audience and their needs. Identify their pain points and preferences to ensure that your product or service meets their requirements.<\/li>\n\n\n\n<li><strong>Problem-solution fit<\/strong>: Determine if there is a clear problem that your product or service solves. Ensure that there is a market for your solution and that it provides enough value to justify its existence.<\/li>\n\n\n\n<li><strong>Business model<\/strong>: Validate that your business model is viable and sustainable. Determine if there is a clear path to revenue and if your pricing strategy makes sense for your target audience.<\/li>\n\n\n\n<li><strong>Competition<\/strong>: Identify your competitors and evaluate their strengths and weaknesses. Determine what sets your product or service apart and why customers would choose you over them.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">How to validate your assumptions?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Here are a few strategies for validating your assumptions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Customer interviews<\/strong>: Talk to potential customers and ask them about their needs, pain points, and preferences. This will help you understand your target audience better and validate your assumptions about them.<\/li>\n\n\n\n<li><strong>Surveys<\/strong>: Use surveys to gather feedback from a larger sample size. This will help you identify patterns and trends in your target audience\u2019s preferences and behaviour.<\/li>\n\n\n\n<li><strong>Minimum viable product (MVP):<\/strong> Create an MVP and test it with potential customers. This will help you validate your assumptions about the problem-solution fit and identify areas for improvement.<\/li>\n\n\n\n<li><strong>A\/B testing:<\/strong> Test different variations of your product or service to see what resonates with your target audience. This will help you optimize your offering and improve your chances of success.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Validating marketplace assumptions is crucial before building anything. Failure to do so can result in significant time and financial costs. It is essential to write down all assumptions related to your value proposition, business model, and distribution channels, and validate them using customer interviews and search data. It is common for initial assumptions to be invalidated, but this process can also reveal new opportunities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After validating assumptions, you should have a better understanding of your users\u2019 problems and potential solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a marketplace solution provider, Mindset understands the importance of validating assumptions before building an MVP. By working with us, you can ensure that your marketplace idea is based on real-world insights and has a greater chance of succeeding in the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>To get started with validating your marketplace assumptions, we encourage you to reach out to us at Mindset. Our team of experts, Michael and Patrick can assist you in identifying the assumptions related to your problem, value proposition, business model and distribution channels, and validate them using customer interviews and search data. Contact us today to learn more about how we can help you validate your marketplace idea and take it to the next level!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tips for Achieving Product\/Market Fit in the Competitive World of Marketplaces<\/p>\n","protected":false},"author":1,"featured_media":18760,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[196],"tags":[],"class_list":["post-18005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-starting-a-marketplace"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Reduce Risk and Increase Success in Marketplace Business? - Mindset AG<\/title>\n<meta name=\"description\" content=\"When building a successful marketplace, setting commission rates is a critical decision that influences your revenue and incentivizes both buyers and sellers to use your platform. However, determining the right commission rate can be challenging. While some may believe that higher commission rates lead to increased revenue, this is not always the case. In fact, excessive commission rates can cause your pricing to be unnaturally high, making your marketplace less competitive compared to other options. To set the optimal commission rate for your marketplace, you must consider several factors. By analyzing each of these factors, you can identify a percentage that is both sustainable and attractive to buyers and sellers. You want to ensure that your commission is high enough to generate revenue, but not so high that it discourages users from using your platform. Here are seven factors to consider when setting your commission rates:\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Reduce Risk and Increase Success in Marketplace Business?\" \/>\n<meta property=\"og:description\" content=\"When building a successful marketplace, setting commission rates is a critical decision that influences your revenue and incentivizes both buyers and sellers to use your platform. However, determining the right commission rate can be challenging. While some may believe that higher commission rates lead to increased revenue, this is not always the case. In fact, excessive commission rates can cause your pricing to be unnaturally high, making your marketplace less competitive compared to other options. To set the optimal commission rate for your marketplace, you must consider several factors. By analyzing each of these factors, you can identify a percentage that is both sustainable and attractive to buyers and sellers. You want to ensure that your commission is high enough to generate revenue, but not so high that it discourages users from using your platform. Here are seven factors to consider when setting your commission rates:\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Mindset AG\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/mindset.swiss\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-05T03:37:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-25T16:45:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mindset.swiss\/wp-content\/uploads\/trolley-miniature-on-a-laptop.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"523\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"mey_super\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mey_super\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/\"},\"author\":{\"name\":\"mey_super\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#\\\/schema\\\/person\\\/a42bfd4679d86c7d479d6afc828f2a59\"},\"headline\":\"How to Reduce Risk and Increase Success in Marketplace Business?\",\"datePublished\":\"2023-05-05T03:37:21+00:00\",\"dateModified\":\"2024-04-25T16:45:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/\"},\"wordCount\":796,\"publisher\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mindset.swiss\\\/wp-content\\\/uploads\\\/trolley-miniature-on-a-laptop.webp\",\"articleSection\":[\"Starting a Marketplace\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/\",\"url\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/\",\"name\":\"How to Reduce Risk and Increase Success in Marketplace Business? - Mindset AG\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mindset.swiss\\\/wp-content\\\/uploads\\\/trolley-miniature-on-a-laptop.webp\",\"datePublished\":\"2023-05-05T03:37:21+00:00\",\"dateModified\":\"2024-04-25T16:45:42+00:00\",\"description\":\"When building a successful marketplace, setting commission rates is a critical decision that influences your revenue and incentivizes both buyers and sellers to use your platform. However, determining the right commission rate can be challenging. While some may believe that higher commission rates lead to increased revenue, this is not always the case. In fact, excessive commission rates can cause your pricing to be unnaturally high, making your marketplace less competitive compared to other options. To set the optimal commission rate for your marketplace, you must consider several factors. By analyzing each of these factors, you can identify a percentage that is both sustainable and attractive to buyers and sellers. You want to ensure that your commission is high enough to generate revenue, but not so high that it discourages users from using your platform. Here are seven factors to consider when setting your commission rates:\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mindset.swiss\\\/wp-content\\\/uploads\\\/trolley-miniature-on-a-laptop.webp\",\"contentUrl\":\"https:\\\/\\\/mindset.swiss\\\/wp-content\\\/uploads\\\/trolley-miniature-on-a-laptop.webp\",\"width\":1000,\"height\":523},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/blog\\\/marketplaces\\\/starting-a-marketplace\\\/how-to-reduce-risk-and-increase-success-in-marketplace-business\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How to Reduce Risk and Increase Success in Marketplace Business?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/\",\"name\":\"Werkstatt f\u00fcr Digitale Innovation\",\"description\":\"Werkstatt f\u00fcr Digitale Innovation\",\"publisher\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#organization\"},\"alternateName\":\"Digitale Innovation\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#organization\",\"name\":\"Mindset AG\",\"alternateName\":\"Mindset.swiss\",\"url\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/mindset.swiss\\\/wp-content\\\/uploads\\\/mindset_logo_profil.png\",\"contentUrl\":\"https:\\\/\\\/mindset.swiss\\\/wp-content\\\/uploads\\\/mindset_logo_profil.png\",\"width\":827,\"height\":827,\"caption\":\"Mindset AG\"},\"image\":{\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/mindset.swiss\",\"https:\\\/\\\/www.instagram.com\\\/mindset.swiss\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/mindset\\\/\"],\"description\":\"Wir validieren und entwickeln Deine Idee in funktionale IT-L\u00f6sungen (Online Marktpl\u00e4tze, E-Commerce Shops, Portale & Plattformen). Dabei begleiten wir Dich von der Konzipierung \u00fcber die Umsetzung bis hin zur Skalierung.\",\"email\":\"hello@mindset.swiss\",\"legalName\":\"Mindset AG\",\"vatID\":\"CHE-331.318.474 MWST\",\"taxID\":\"CHE-331.318.474\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/mindset.swiss\\\/en\\\/#\\\/schema\\\/person\\\/a42bfd4679d86c7d479d6afc828f2a59\",\"name\":\"mey_super\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5db35cbfb4bd3206541b3390bab5ad626963e6e39c962b96d7ecc51addb2ebf3?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5db35cbfb4bd3206541b3390bab5ad626963e6e39c962b96d7ecc51addb2ebf3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5db35cbfb4bd3206541b3390bab5ad626963e6e39c962b96d7ecc51addb2ebf3?s=96&d=mm&r=g\",\"caption\":\"mey_super\"},\"sameAs\":[\"https:\\\/\\\/staging.mindset.swiss\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How to Reduce Risk and Increase Success in Marketplace Business? - Mindset AG","description":"When building a successful marketplace, setting commission rates is a critical decision that influences your revenue and incentivizes both buyers and sellers to use your platform. However, determining the right commission rate can be challenging. While some may believe that higher commission rates lead to increased revenue, this is not always the case. In fact, excessive commission rates can cause your pricing to be unnaturally high, making your marketplace less competitive compared to other options. To set the optimal commission rate for your marketplace, you must consider several factors. By analyzing each of these factors, you can identify a percentage that is both sustainable and attractive to buyers and sellers. You want to ensure that your commission is high enough to generate revenue, but not so high that it discourages users from using your platform. Here are seven factors to consider when setting your commission rates:","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/","og_locale":"en_US","og_type":"article","og_title":"How to Reduce Risk and Increase Success in Marketplace Business?","og_description":"When building a successful marketplace, setting commission rates is a critical decision that influences your revenue and incentivizes both buyers and sellers to use your platform. However, determining the right commission rate can be challenging. While some may believe that higher commission rates lead to increased revenue, this is not always the case. In fact, excessive commission rates can cause your pricing to be unnaturally high, making your marketplace less competitive compared to other options. To set the optimal commission rate for your marketplace, you must consider several factors. By analyzing each of these factors, you can identify a percentage that is both sustainable and attractive to buyers and sellers. You want to ensure that your commission is high enough to generate revenue, but not so high that it discourages users from using your platform. Here are seven factors to consider when setting your commission rates:","og_url":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/","og_site_name":"Mindset AG","article_publisher":"https:\/\/www.facebook.com\/mindset.swiss","article_published_time":"2023-05-05T03:37:21+00:00","article_modified_time":"2024-04-25T16:45:42+00:00","og_image":[{"width":1000,"height":523,"url":"https:\/\/mindset.swiss\/wp-content\/uploads\/trolley-miniature-on-a-laptop.webp","type":"image\/webp"}],"author":"mey_super","twitter_card":"summary_large_image","twitter_misc":{"Written by":"mey_super","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/#article","isPartOf":{"@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/"},"author":{"name":"mey_super","@id":"https:\/\/mindset.swiss\/en\/#\/schema\/person\/a42bfd4679d86c7d479d6afc828f2a59"},"headline":"How to Reduce Risk and Increase Success in Marketplace Business?","datePublished":"2023-05-05T03:37:21+00:00","dateModified":"2024-04-25T16:45:42+00:00","mainEntityOfPage":{"@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/"},"wordCount":796,"publisher":{"@id":"https:\/\/mindset.swiss\/en\/#organization"},"image":{"@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/#primaryimage"},"thumbnailUrl":"https:\/\/mindset.swiss\/wp-content\/uploads\/trolley-miniature-on-a-laptop.webp","articleSection":["Starting a Marketplace"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/","url":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/","name":"How to Reduce Risk and Increase Success in Marketplace Business? - Mindset AG","isPartOf":{"@id":"https:\/\/mindset.swiss\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/#primaryimage"},"image":{"@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/#primaryimage"},"thumbnailUrl":"https:\/\/mindset.swiss\/wp-content\/uploads\/trolley-miniature-on-a-laptop.webp","datePublished":"2023-05-05T03:37:21+00:00","dateModified":"2024-04-25T16:45:42+00:00","description":"When building a successful marketplace, setting commission rates is a critical decision that influences your revenue and incentivizes both buyers and sellers to use your platform. However, determining the right commission rate can be challenging. While some may believe that higher commission rates lead to increased revenue, this is not always the case. In fact, excessive commission rates can cause your pricing to be unnaturally high, making your marketplace less competitive compared to other options. To set the optimal commission rate for your marketplace, you must consider several factors. By analyzing each of these factors, you can identify a percentage that is both sustainable and attractive to buyers and sellers. You want to ensure that your commission is high enough to generate revenue, but not so high that it discourages users from using your platform. Here are seven factors to consider when setting your commission rates:","breadcrumb":{"@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/#primaryimage","url":"https:\/\/mindset.swiss\/wp-content\/uploads\/trolley-miniature-on-a-laptop.webp","contentUrl":"https:\/\/mindset.swiss\/wp-content\/uploads\/trolley-miniature-on-a-laptop.webp","width":1000,"height":523},{"@type":"BreadcrumbList","@id":"https:\/\/mindset.swiss\/en\/blog\/marketplaces\/starting-a-marketplace\/how-to-reduce-risk-and-increase-success-in-marketplace-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mindset.swiss\/en\/"},{"@type":"ListItem","position":2,"name":"How to Reduce Risk and Increase Success in Marketplace Business?"}]},{"@type":"WebSite","@id":"https:\/\/mindset.swiss\/en\/#website","url":"https:\/\/mindset.swiss\/en\/","name":"Werkstatt f\u00fcr Digitale Innovation","description":"Werkstatt f\u00fcr Digitale Innovation","publisher":{"@id":"https:\/\/mindset.swiss\/en\/#organization"},"alternateName":"Digitale Innovation","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mindset.swiss\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mindset.swiss\/en\/#organization","name":"Mindset AG","alternateName":"Mindset.swiss","url":"https:\/\/mindset.swiss\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mindset.swiss\/en\/#\/schema\/logo\/image\/","url":"https:\/\/mindset.swiss\/wp-content\/uploads\/mindset_logo_profil.png","contentUrl":"https:\/\/mindset.swiss\/wp-content\/uploads\/mindset_logo_profil.png","width":827,"height":827,"caption":"Mindset AG"},"image":{"@id":"https:\/\/mindset.swiss\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/mindset.swiss","https:\/\/www.instagram.com\/mindset.swiss\/","https:\/\/www.linkedin.com\/company\/mindset\/"],"description":"Wir validieren und entwickeln Deine Idee in funktionale IT-L\u00f6sungen (Online Marktpl\u00e4tze, E-Commerce Shops, Portale & Plattformen). Dabei begleiten wir Dich von der Konzipierung \u00fcber die Umsetzung bis hin zur Skalierung.","email":"hello@mindset.swiss","legalName":"Mindset AG","vatID":"CHE-331.318.474 MWST","taxID":"CHE-331.318.474"},{"@type":"Person","@id":"https:\/\/mindset.swiss\/en\/#\/schema\/person\/a42bfd4679d86c7d479d6afc828f2a59","name":"mey_super","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5db35cbfb4bd3206541b3390bab5ad626963e6e39c962b96d7ecc51addb2ebf3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5db35cbfb4bd3206541b3390bab5ad626963e6e39c962b96d7ecc51addb2ebf3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5db35cbfb4bd3206541b3390bab5ad626963e6e39c962b96d7ecc51addb2ebf3?s=96&d=mm&r=g","caption":"mey_super"},"sameAs":["https:\/\/staging.mindset.swiss"]}]}},"_links":{"self":[{"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/posts\/18005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/comments?post=18005"}],"version-history":[{"count":0,"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/posts\/18005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/media\/18760"}],"wp:attachment":[{"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/media?parent=18005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/categories?post=18005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mindset.swiss\/en\/wp-json\/wp\/v2\/tags?post=18005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}