The CEO of Africa's largest bank states they strategically avoid being on the cutting edge. This "fast follower" approach allows them to adopt proven innovations responsibly while avoiding the high costs and risks of being a pioneer.

To de-risk innovation, teams must avoid the trap of building easy foundational parts (the "pedestal") first. Drawing on Alphabet X's model, they should instead tackle the hardest, most uncertain challenge (the "monkey"). If the core problem is unsolvable, the pedestal is worthless.

Don't expect your organization to adopt a new strategy uniformly. Apply the 'Crossing the Chasm' model internally: identify early adopters to champion the change, then methodically win over the early majority and laggards. This manages expectations and improves strategic alignment across the company.

Established industries often operate like cartels with unwritten rules, such as avoiding aggressive marketing. New entrants gain a significant edge by deliberately violating these norms, forcing incumbents to react to a game they don't want to play. This creates differentiation beyond the core product or service.

To overcome the cold start problem in a network effects business, especially in a conservative industry like finance, a powerful strategy is to create a coalition or consortium model. By giving early adopters ownership and governance rights, you align incentives, build trust, and transform would-be competitors into enthusiastic evangelists for the new network.

Building a network effects business with financial institutions represents an extreme version of the 'cold start problem.' The initial phase of getting the first ~20 participants is excruciatingly difficult due to trust deficits, regulation, and inertia. It's described as 'the worst idea of all time,' but the value captured after achieving liftoff is immense.

Don't pitch big ideas by going straight to the CEO for a mandate; this alienates the teams who must execute. Instead, introduce ideas casually to find a small group of collaborative "yes, and" thinkers. Build momentum with this core coalition before presenting the developed concept more broadly.

When driving major organizational change, a data-driven approach from the start is crucial for overcoming emotional resistance to established ways of working. Building a strong business case based on financial and market metrics can depersonalize the discussion and align stakeholders more quickly than relying on vision alone.

A visionary founder must be willing to shelve their ultimate, long-term product vision if the market isn't ready. The pragmatic approach is to pivot to an immediate, tangible customer problem. This builds a foundational business and necessary ecosystem trust, paving the way to realize the grander vision in the future.