118 - Stop testing your FinTech products unless you test your decisions first. Or why bottom-up project plans lead to over-spending

I wanted, for the first episode of 2023, to talk about why FinTech companies should be testing their decisions before testing their products. I walk you through the biggest mistake that startup FinTech companies make and why building a project from the bottom up generally does not work, and I explain the difference between reactive firefighting and just-in-time compliance and why the latter is more effective. In summary, instead of testing a product that is nearly ready, you need to first test the decision to launch the product first. If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select "Ratings and Reviews" and "Write a Review" and tell me what your favorite part of the podcast is.    Today's episode: [00:42] I hope that we have a beautiful 2023 ahead of us. [01:50] Explanation of this episode's title. [03:06] The biggest mistake regarding using unnecessary resources. [06:05] FinTech CEOs often view new projects as exhaustive checklists. [08:33] An example of why startups building a project bottom-up doesn't work. [11:41] Why projects can get stuck. [14:07] The difference between reactive firefighting and just-in-time compliance. [15:13] Just-in-time is more efficient than reactive. [17:26] Problem with relying on an authority figure. [19:56] What FinTech teams really want given time and money constraints. [22:21] Please be sure to listen to the next episode!   Show links: Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package! I would love to invite you to sign up for my newsletter. If you are interested, please click here.  

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