This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2020/03/innovation-stacks-and-crazy-entrepreneurs/
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Submited by James McKelvey. McKelvey is a serial entrepreneur, inventor, philanthropist and artist. He is also the cofounder of Square, a merchant services aggregator and mobile payment company based in San Francisco, California.
In his book The Innovation Stack, he recounts how he and his cofounder, Jack Dorsey of Twitter, approached the problem of credit cards with a new perspective. The irreverent first-person narrative is an insider’s view of the world of entrepreneurship and a call to action for all of us to find the entrepreneur within ourselves—one crazy idea at a time.
Here, he explains what an Innovation Stack is, plus what makes a real entrepreneur.
Let’s begin with an obvious question: How does a glassblower become the founder of a major payments company?
When I lost a glass sale because I couldn’t take the customer’s credit card, I looked at the iPhone in my hand and wondered why I could take pictures and read the news but couldn’t take a credit-card payment. I love solving problems, so I called up my buddy Jack Dorsey and proposed solving this one together.
What is an Innovation Stack?
If you try to do something truly new, you will encounter a series of problems. The solution to one problem leads to another problem, sometimes several. This problem-solution-problem chain repeats until you end up with a collection of both independent and interlocking inventions, or you fail.
If you succeed, you have an Innovation Stack. It’s a series of interlocking inventions. You cannot view the elements of an Innovation Stack individually. The innovation evolves as a whole. Each block in the Stack works in conjunction with all the others, and the entire Stack fails if on… Read More
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