171. The Committed Innovator: How Shopify approaches innovation
Aug 18, 2023
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Harley Finkelstein, president of Shopify, discusses the entrepreneurial journey, the rise of Shopify as a platform for small merchants, creating an organizational model for innovation, and starting a new business called Firebelly T.
Multi-channel selling is crucial for successful brands, which Shopify emphasizes by providing solutions for current and future demands.
Shopify's culture focuses on entrepreneurship and innovation, prioritizing hiring individuals with entrepreneurial backgrounds and exploring emerging technologies.
Deep dives
The Importance of Being Multi-Channel
Harley Finklstein, president of Shopify, highlights the significance of multi-channel selling. He emphasizes that successful brands today sell through various channels and are not limited to selling online only. Shopify aims to not only provide robust and world-class solutions for current needs but also anticipate future demands, such as AI-based commerce, Web 3, and augmented reality.
Harley Finklstein's Entrepreneurial Journey
Harley shares his personal entrepreneurial journey, starting from his teenage years when he wanted to become a DJ but had to start his own DJ company due to lack of opportunities. He later started a t-shirt business in college out of necessity to support his family. Despite initially focusing on his passion for DJing, entrepreneurship became his true calling as he recognized the power of solving problems and building businesses.
The Birth of Shopify
Harley's involvement with Shopify began during his time in law school when he became one of the first customers. He realized the need for a platform that allowed small businesses to build scalable, direct-to-consumer online stores. Shopify filled this void, giving small businesses access to software and scalability that was previously exclusive to larger enterprises. Shopify's focus on simplicity, ease of use, and scalability attracted a loyal customer base.
Shopify's Culture and Emphasis on Innovation
Shopify's culture revolves around entrepreneurship and innovation. The company prioritizes hiring individuals with entrepreneurial backgrounds or deep connections to the entrepreneurial world. They focus on ruthless prioritization and eliminating unnecessary meetings to foster a culture of productivity and resourcefulness. Shopify constantly invests in small bets, exploring emerging technologies such as AI, augmented reality, and Web 3, while ensuring that they can continue to serve their customers' evolving needs.
In this latest episode in our Committed Innovator series Erik Roth speaks with Harley Finkelstein, an entrepreneur and innovator who is president of the multichannel commerce platform, Shopify.
Their conversation is essential listening for anyone interested in learning how to create and build a business that scales. Harley and Erik speak about what it means to be an entrepreneur, why starting a side business makes sense, Shopify's company culture, and how the t-shirt business Harley started in college led directly to him serving as the president of Shopify.