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

<p><span style="font-weight: 400;">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</span> <em><span style="font-weight: 400;">first</span></em><span style= "font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">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!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[00:42] I hope that we have a beautiful 2023 ahead of us.</span></p> <p><span style="font-weight: 400;">[01:50] Explanation of this episode’s title.</span></p> <p><span style="font-weight: 400;">[03:06] The biggest mistake regarding using unnecessary resources.</span></p> <p><span style="font-weight: 400;">[06:05] FinTech CEOs often view new projects as exhaustive checklists.</span></p> <p><span style="font-weight: 400;">[08:33] An example of why startups building a project bottom-up doesn’t work.</span></p> <p><span style="font-weight: 400;">[11:41] Why projects can get stuck.</span></p> <p><span style="font-weight: 400;">[14:07