Market creation—particularly in emerging and developing economies that remain underserved—requires virtues that diverge from the typical business-management emphasis on productivity and efficiency. Image: Shutterstock

When new entrepreneurs set their sights on bringing products and services to market, one of their first tasks is knowing that market inside and out so that they’ll be able to innovate within it.

But some entrepreneurs choose instead to enter nascent, or nonexistent, markets. These innovators do so with the intention of creating markets.

Market creation—particularly in emerging and developing economies that remain underserved—requires virtues that diverge from the typical business-management emphasis on productivity and efficiency.

“Market-creating innovations often transform complicated and expensive products and services into simple and affordable ones, and then get them to people,” says Efosa Ojomo, an adjunct lecturer in entrepreneurship at the Kellogg School. “It’s a beautiful alliance between discovery and distribution that, whether you mean to or not, helps create prosperity.”

Ojomo, who also leads the Global Prosperity Research Group at the Clayton Christensen Institute for Disruptive Innovation, a nonprofit think tank, identifies three traits that make market-creating business leaders a special breed.

[This article has been republished, with permission, from Kellogg Insight, the faculty research & ideas magazine of Kellogg School of Management at Northwestern University]

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3 traits of successful market-creating entrepreneurs

39 1
19.12.2023

Market creation—particularly in emerging and developing economies that remain underserved—requires virtues that diverge from the typical business-management emphasis on productivity and efficiency. Image: Shutterstock

When new entrepreneurs set their sights on bringing products and services to market, one of their first tasks is knowing that market inside and out so that they’ll be........

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