Excellent discussion in this thread. One company that comes quickly to my mind when I think of success patterns is Shriram Transport Finance Company (STFC). STFC thrived on doing business with a section of society which was not catered to by anyone else. They brought a completely informal sector of private lending into their business model. They started providing vehicle loans to the unbanked section of society. Their customers did not even have bank accounts. Today STFC is the largest NBFC in India. It also satisfies some of the other success patterns like ethical down-to-earth management, perseverance, industry-beating numbers (just look at their NIMs and you will know – it’s nearly double that of HDFC Bank!!).
So, critical success pattern here - Pioneering an industry segment where none existed before.
Note: The case of micro-lending was somewhat similar but for the problems of execution in the leading companies. The opportunity is still there for some company to break through.