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The MoneyPot: Square's David Rusenko on SME Innovation

There is a white hot spotlight on financial services for SME's. The pandemic has been both a burden and an accelerator to adopt digital processes and omnichannel services, and several contenders have stepped up their game to innovate for the needs of SMEs to help them recover and thrive.

The MoneyPot hosts spoke with Square’s GM of Ecommerce, David Rusenko about the ideas and practices that drive their innovation in SME services. You can see portions of that conversation below.

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Q&A with Dave Rusenko, GM, ECommerce, Square on The MoneyPot

On best practices for creating products and experiences

Q: Do you have any philosophies that you adhere to, or any best practices when leading the teams creating products and experiences at Square?

A: My philosophy has always been that the most important thing is deeply understanding and appreciating your customer's struggles and pain points. A lot of times you'll hear that classic Henry Ford quote: “If I had asked people what they wanted, they would have said faster horses.” He understood very deeply the whole problem was the transportation problem, getting from Point A to Point B and came up with a better solution to that problem.

There's a really good framework that we use at Square called the “Jobs-to-be-Done” framework. Instead of framing your product in the context of what does it do, you frame it in the context of what problem or what job are your customers hiring you to solve?

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On top priorities for SMEs

On adapting to customer needs

On starting to digitize your business

On how fintechs help to adapt

On making it easy to adapt to business needs during Covid

On challenges highlighted & addressed by Covid

On tech adoption and requirements

Listen to the full episode👇🏼