Great article by Sallie Krawcheck in Fast Company - What I Wish I Knew As A Corporate Exec That I Now Know As An Entrepreneur.
Aside from what appears to be good advice regarding culture, KYC, values and team building, Krawcheck relates 2 points I think are incredibly important when it comes to FinTech:
- Use the calendar as a weapon: Krawcheck explains that for her team, it's all about the date. Features may drop, bugs may live, but you DO NOT MISS THE DATE. This prevents you from delaying, overengineering, overspending and creeping outside the product mandate. She also focuses on the importance of user testing every increment of the product, something that is almost entirely overlooked at traditional Finserv companies.
- Stay focused yet flexible: Krawcheck hits the nail on the head when she discusses the danger of ignoring the outside world in an attempt to execute on your organization's strategy. If the world has changed, you must change with it. Know your client and build what they want - not what is best for your company, product or strategy. Ignoring your customer is a sure way to kill your business, regardless of how safe it is in the short term.