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Molly’s top-rated podcast will help you reimagine how you live, lead and work. Each episode showcases game-changing athletes, coaches, entrepreneurs and thought leaders.
Molly’s top-rated podcast will help you reimagine how you live, lead and work. Each episode showcases game-changing athletes, coaches, entrepreneurs and thought leaders.

Episode 106- Square Founder Jim McKelvey on How We’re Thinking About Innovation All Wrong

In 2009, a glassblowing artist and former computer scientist in St. Louis named Jim McKelvey lost a sale because he couldn’t accept American Express cards. Frustrated by how difficult and expensive it was to take credit card payments, Jim set out to find a solution for small merchants like himself. He co-founded Square with Jack Dorsey in 2009 and together they reimagined the payment processing industry by turning a mobile phone into a credit card reader. In our conversation, Jim shares how Square survived the competitive threat from Amazon, the innovation stack that enabled their survival, and how we are thinking about innovation all wrong. His new book, The Innovation Stack, is available now.

Follow Jim: Twitter | Website

Show Notes

  • The difference between an entrepreneur and a businessperson (1:53)
  • The origin story of Square and the “perfect problem” it set out to solve (3:35)
  • What is a “perfect problem?” (4:40)
  • An entrepreneur’s relationship with fear (6:25)
  • (8:11)
  • Why Jim never hired anyone from the payment industry when he started Square (11:09)
  • What Jim looks for when he is hiring (14:30)
  • The problem with “disruption” (16:08)
  • Why innovation should be thought of as a last resort (17:15)
  • Copy when you can, innovate when you must (19:10)
  • What happened when Amazon came into the market (21:12)
  • How Square survived the threat from Amazon through its innovation stack (26:12)
  • What is an innovation stack? (28:53)
  • Embracing daily discomfort with a sense of humor (32:00)
  • The problem with chasing innovation as an end goal (35:06)
  • Have humility and audacity (37:06)

 

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In a world fixated on fleeting success, a bold framework for pursuing your goals unapologetically without compromising what matters most. This isn’t just another self-help theory: Dynamic Drive is your practical guide to unlocking your true potential. Through her decades of experience working with top athletes and peak performers across industries, renowned keynote speaker and leadership expert Molly Fletcher has created a proven formula backed by research that outlines the seven keys to sustainable success. The truth is fulfillment doesn’t come from setting and accomplishing goals in isolation. It comes from Dynamic Drive—a holistic approach that connects all parts of you with your purpose and allows you to engage in meaningful growth, both personally and professionally. Unlike traditional approaches that dilute drive into a mere means to an end, which can lead to burnout, Dynamic Drive is a way of life, a mindset. It’s about figuring out the parts of your life where you are playing small or safe or are dissatisfied. Dynamic Drive is the process by which we implement and sustain intentional change. The greatest reward isn’t in what you achieve, but who you become in the process. Your path to sustained high performance in all areas of your life begins here. This is your manual for an aligned, joyful, and relentless pursuit of a better you.
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#1 Worldwide Bestselling Author of
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