Delegation in Style
“I like to dedicate responsibility to my teams and have great trust in them to deliver the best possible result”, says Mark Hojgaard, CEO & Co-Founder of Coinify, a wallet-independent platform that provides individuals with secure and simple access to the virtual currency space. The company aims to go beyond traditional finance practices and introduce people from all walks of life into virtual currencies and adopt financial innovation. Hojgaard is a leader who believes in delegation and a person who leverages fear to propel himself to go the extra mile. With an incredibly strong determination, Hojgaard is steering the company towards building a strong, trustworthy community and injecting novel methods of payment across industries. So how does he plan to achieve this? Let’s find out!
Emerging Technologies: Challenges & Opportunities
According to Hojgaard, immature technologies and the unregulated approaches are the two biggest challenges faced by the Fintech sector. Another challenge is the one faced by the customers when deciding what platform to invest in. A few years ago, the Bitcoin was the hottest topic, but now there are thousands of similar tokens coming up every day including LibraCoin by Facebook and CBDC (Central Bank own Digital Currency). “In a dynamic and ever-changing market such as ours, it can be devastating for business if you are betting on only one out of many technologies,” says Hojgaard. Blockchain technology is disruptive and fundamentally different from classical financial services. But no matter how futuristic, this will not replace traditional methods. The two will always co-exist. While most innovations struggle to find a way to monetize themselves – fintech is a financial operation that is super easy to capitalize on.
Don’t be the Superhero
Hojgaard is against pretending to be an all-knowing superhero who never fails. He encourages accepting what you are not good at and delegating those tasks. “The more time spent by a leader micromanaging, the more they miss out on golden opportunities,” says Hojgaard. “Visionaries shouldn’t micromanage and instead choose an efficient Chief Operating Officer.” He spends his day in discussion with the managers assessing potential critical tasks, assisting sales teams, and ensuring that the Board of Directors and key stakeholders are being updated with the current activities and have trust in the strategies. He encourages his team to challenge themselves, have fun, and think out of the box. Hojgaard firmly believes that a good leader shouldn’t just lead, they should prioritize steering the company in the right direction.
Being Fearless is Dangerous
Overcoming the fear of failure does worse than good according to Hojgaard. By fearing failure, you become more alert and you become motivated to go the extra mile. “Once in a while, it’s good to imagine that you are on a burning platform and the only way to progress is by thinking out of the box and finding the path of least resistance to reach greater heights,” says Hojgaard. However, fear must not overshadow your judgment and constrain you. Hojgaard’s greatest learning experience was being part of five acquisitions and this remains one of the largest attributes of Coinify’s success.