The Innovation Stack : Building An Unbeatable Business One Crazy Idea At A Time

Jim McKelvey

Physical

In Circulation

From the cofounder of Square, an inspiring and entertaining account of what it means to be a true entrepreneur and what it takes to build a resilient, world-changing company

In 2009, a St. Louis glassblowing artist and recovering computer scientist named Jim McKelvey lost a sale because he couldn't accept American Express cards. Frustrated by the high costs and difficulty of accepting credit card payments, McKelvey joined his friend Jack Dorsey (the cofounder of Twitter) to launch Square, a startup that would enable small merchants to accept credit card payments on their mobile phones.

With no expertise or experience in the world of payments, they approached the problem of credit cards with a new perspective, questioning the industry's assumptions, experimenting and innovating their way through early challenges, and achieving widespread adoption from merchants small and large.

But just as Square was taking off, Amazon launched a similar product, marketed it aggressively, and undercut Square on price. For most ordinary startups, this would have spelled the end. Instead, less than a year later, Amazon was in retreat and soon discontinued its service. How did Square beat the most dangerous company on the planet? Was it just luck? These questions motivated McKelvey to study what Square had done differently from all the other companies Amazon had killed. He eventually found the key: a strategy he calls the Innovation Stack.

McKelvey's fascinating and humorous stories of Square's early days are blended with historical examples of other world-changing companies built on the Innovation Stack to reveal a pattern of ground-breaking, competition-proof entrepreneurship that is rare but repeatable.

The Innovation Stack is a thrilling business narrative that's much bigger than the story of Square. It is an irreverent first-person look inside the world of entrepreneurship, and a call to action for all of us to find the entrepreneur within ourselves and identify and fix unsolved problems--one crazy idea at a time.

What will you learn from this book

  1. Unique Solutions: The importance of creating unique, innovative solutions to address problems instead of relying on conventional approaches.

  2. Innovation Stack: Understanding the concept of an "innovation stack" – a series of innovative solutions that collectively create a competitive advantage and barrier to competition.

  3. Overcoming Challenges: How facing and overcoming challenges in a unique way leads to the creation of an innovation stack that distinguishes a business from competitors.

  4. Problem-Solving Mindset: Cultivating a mindset that embraces problems as opportunities for innovation and growth rather than obstacles.

  5. Resilience and Adaptability: The significance of resilience and adaptability in navigating challenges and developing innovative solutions.

  6. Customer-Centric Approach: Focusing on understanding and solving customers' problems effectively to build an innovation stack that resonates with the market.

  7. Entrepreneurial Lessons: Learning from the experiences of entrepreneurs who have successfully built businesses by creating their own innovation stacks.

  8. Competition and Differentiation: How an innovation stack allows businesses to differentiate themselves and create a unique value proposition that outperforms competitors.

  9. Risk-Taking and Experimentation: Encouraging a culture of calculated risk-taking and experimentation to fuel innovation and drive business growth.

  10. Continuous Innovation: Emphasizing the need for continuous innovation and evolution to maintain a competitive edge in the market.

Language English
ISBN-10 0593086732
ISBN-13 9780593086735
No of pages 288
Font Size Medium
Book Publisher Portfolio Penguin
Published Date 10 Mar 2020

About Author

Author : Jim McKelvey

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