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b"There are two types of entrepreneurs: those who copy other people\\u2019s businesses and those who create an entirely new market.\\nWhen you disrupt an existing market, you run the risk of being lumped in with your competitors. For example, you can probably name five of your local coffee shops off the top of your head.\\xa0\\nWhile some entrepreneurs thrive off of copying other business ideas, the most successful businesses are the ones who solve a problem that nobody else has solved. If your business idea is completely original, then whoever needs your product will come to you because nobody else is filling that hole in the market.\\xa0\\nOver the years, Jim McKelvey has become an expert at building businesses that solve problems no one else is addressing. He has founded several groundbreaking businesses like Square and LaunchCode, both of which fill a hole in their respective markets.\\xa0\\nIn this episode of YAP Classic, Hala and Jim break down the two different types of entrepreneurs. Jim tells Hala about how he met Jack Dorsey, co-founder of Square and Twitter. They also talked about why money is a weak motivator in entrepreneurship and how Jim and Jack survived an attack from Amazon.\\xa0\\n\\nTopics Include:\\n\\n- The impact of his mother\\u2019s suicide\\xa0\\n- Jim\\u2019s relationship with social media\\n- \\u2018Don\\u2019t do\\u2019 list\\xa0\\n- How does Jim define entrepreneurship?\\xa0\\n- Pros of copying someone\\xa0\\n- Our copy-centric world\\n- Becoming aware of solvable problems\\n- Why money is a weak motivator\\n- How Jim met Jack Dorsey\\n- Age bias\\n- Starting Square\\n\\xa0- The Innovation Stack\\xa0\\n- Competing successfully against Amazon\\xa0\\n- Writing The Innovation Stack\\xa0\\n- And other topics\\u2026\\n\\nJim McKelvey is a serial entrepreneur who co-founded Square. He also founded Invisbily, LaunchCode, and Third Degree Glass Factory. He still serves as the owner of all seven companies he started, but does not hold a leadership position at any of them. In 2017, he was appointed as an independent director of the Federal Reserve Bank of St. Louis.\\xa0\\nHe\\u2019s the author of three books, the most popular being The Innovation Stack, an inside look into the world of entrepreneurship that details Square\\u2019s battle with Amazon. He also wrote The Birth of Baking, a graphic novel about The Bank of America\\u2019s conception, and The Art of Fire, a beginner\\u2019s guide to glassblowing.\\xa0\\n\\nSponsored By:\\n\\nThe Jordan Harbinger Show - Check out jordanharbinger.com/start for some episode recommendations\\nIndeed - Visit Indeed.com/YAP to start hiring now.\\n\\nResources Mentioned:\\n\\nYAP episode #69: https://podcasts.apple.com/us/podcast/69-the-innovation-stack-with-jim-mckelvey/id1368888880?i=1000478091591\\xa0\\nJim\\u2019s Book, The Innovation Stack: https://www.jimmckelvey.com/books/\\xa0\\nJim\\u2019s Website: https://www.jimmckelvey.com/\\xa0\\n\\nMore About Young and Profiting\\nDownload Transcripts - youngandprofiting.com\\xa0\\xa0\\nGet Sponsorship Deals - youngandprofiting.com/sponsorships\\nLeave a Review -\\xa0 ratethispodcast.com/yap\\nWatch Videos - youtube.com/c/YoungandProfiting\\n\\nFollow Hala Taha\\nLinkedIn - linkedin.com/in/htaha/\\nInstagram - instagram.com/yapwithhala/\\nTikTok - tiktok.com/@yapwithhala\\nTwitter - twitter.com/yapwithhala\\n\\nLearn more about YAP Media Agency Services - yapmedia.io/\\nJoin Hala's LinkedIn Masterclass - yapmedia.io/course"