There was a deep conversation during Tekedia Live today on Category-King – a company which has built or acquired leverageable factors to dominate a business category within its sector. For example, Facebook is a category-king in human social connection within the broad social media sector. Google is a category-king in web search.
Dangote Cement is a category-king in Nigeria’s cement sector. Indomie Noodles is a category-king in the noodles sector. I have also used sector-king when a company becomes dominant within its sector when the category equates to a sector.
To become an enduring category-king in your business sector, you must possess these four characteristics. With these four features, the firms build moats to protect their castles.
- Perceptively innovative: you are always innovating. You never rest, always pushing for better products, services and experiences. You outperform competitors with new solutions for unmet needs.
- Evidently inspired: you inspire your users. You are modern, trustworthy and inspirational, you have a larger purpose, helping people live out their own values and beliefs.
- Ruthlessly pragmatic: your customers depend on you and you have their backs, making life easier by delivering consistent experiences. You make good on your promises.
- Customer obsessed: customers cannot imagine living without you. You know what matters to customers, finding new ways to meet their most important. needs.
*inspired by Brand Prophet Index---
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.