MIT Sloan Management Review Article on How Would-Be Category Kings Become Commoners
- 13m
- Keith Krach, Rory McDonald
- MIT Sloan Management Review
- 2020
Innovative companies may succeed in pioneering new markets, but often fail to dominate the categories they create.
Starting any business is hard, but creating a new category of business with a completely new model is a high-wire act. Companies have to convince investors, customers, the media, analysts, and others that something the world has long managed without is now a necessity and legitimately constitutes a new business category. While educating and selling the market on this new category, there’s also a business to build and a whole new business model to formulate. Pulling this off is like delivering a nonstop TED Talk while inventing the light bulb and building General Electric all at the same time.
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MIT Sloan Management Review Article on How Would-Be Category Kings Become Commoners