Creating an Extraordinary new category

On this season of Business is Boring we’re talking to leaders who are great examples of the best of business - and today we are looking at the opportunities and challenges of creating your own category. Creating a category allows you to be the leader and get away from the competition. But it is one of the hardest things to do - as you need to create awareness, trust, new habits and understanding in the market. It takes energy, positivity, confidence, optimism, perseverance as well as a great product and business discipline. These are things that Steven Zinsli has in spades - and that host Simon Pound has seen up close by working on their brand and being an investor. If you’re on LinkedIn you will have seen the way Steve is building in public, sharing the wins, the work and the journey to create a new category of payments for business. Today there is no standard way for any non-wage payments to be distributed to workers. There are a bunch of very ordinary options -gift cards, reimbursements or tax attracting extra payments in payroll. Their platform is built to give every employee a card and account, and help the finance function track, manage and report on all dollars allocated and spent. The amount wasted on gift card admin and unspent dollars, on admin time for reimbursement and on inefficient reporting is massive, but today people don’t think of these as all having one solution. What does it take to establish a new idea? What can others learn about communication and turning up? And how might other business people think about choosing their own lane? Hear from Steve Zinsli, founder and CEO at Extraordinary in this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices