In today’s fast-paced fintech landscape, geographical expansion is often viewed as the ultimate benchmark of success. However, this perspective can be misleading. While growth is undeniably crucial, it becomes inconsequential if a business fails to establish itself as a leader within its sector.
Whether this leadership is achieved in the original market or a new one, category kinship remains the key to sustainable success. In our case, the African diaspora in the UK presented a compelling, largely untapped fintech opportunity.
Focus first, expand later
As the saying goes, a bird in the hand is better than two in the bush, and remaining true to your key market is the cornerstone of strategic expansion. By focusing on one area and excelling to the point where your brand becomes synonymous with the industry, you are essentially planting your flag in that territory.
The article originally appeared on UK Tech.