#64 How to Build an Unbeatable Business One Crazy Idea at a Time: Square Co-Founder Jim McKelvey

From 3 Takeaways

Jim McKelvey, co-founder of Square, shares insights into entrepreneurship, highlighting the serendipitous origins of Square and his collaboration with Jack Dorsey. He discusses the importance of innovative thinking, the strategy of embracing inaction when necessary, and offers key takeaways from his own experiences in building a successful business that has significantly disrupted the payment processing industry.

Key Takeaways

  • Entrepreneurs are rare: Most prefer copying to the innovation required to create something truly unique.
  • Doing nothing can be a powerful strategy; sometimes the best move is letting the market unfold on its own.
  • Square's unique pitch? Highlighting all the reasons their idea might flop—real honesty can win over investors.
  • Innovation isn't just about new ideas; sometimes it's fixing what's right in front of you, like a mobile payment system.
  • Being labeled 'crazy' was once an insult, but in entrepreneurship, it's often the badge of honor for genuine innovators.

What is recommended in this episode?

The Innovation Stack.

Mentioned in this episode