Stella is an international organization whose primary objective is to create a network among all the world’s financial institutions. Jed McCaleb co-founded it in the year 2014. He was involved in the creation of the first-bit coin exchange, and this is what gave him the idea of Stellar. He had the purpose of enhancing technological development in the world’s financial sector to increase its efficiency. This is because a significant number of world’s population do not have access to banking services especially in the rural areas which costs them a considerable amount of charges while transferring sending money from one person to another especially if the two are at two premises that are a long distance away from each other.
Jed McCaleb worked hard to ensure the success of Stellar by working for long hours and collaborating with other technology experts to provide more efficiency in the financial structure in the world. He only dedicated to making sure that he improves and makes people’s lives a lot easier since Stellar in a private non-profit organization.
In his work, he multitasks between management of the organization and also its technical development through responding to his clients’ emails, requests and other minor things in the business operation. This ensures that he is most effective and efficient in providing his clients satisfaction.
Jed McCaleb’s one of the most crucial goal principle in his work is that “A good product markets itself”. This explains that satisfaction is the best advertisement for any given product. So, he considers producing great products with high level of contentment to people, than produce less valuable products and incurring much cost to advertise them to the public and the net returns from that product may not cover the production cost of that product.
A good entrepreneur should be ready to take risks and make sound strategic plans to prepare on the most effective way to deal with threats and uncertainties during the running of the business activities. Jed McCaleb takes risks by focusing on big ideas, and he strategically plans for his work for better management. Concentrating on big things is very important because when they succeed, their reward is higher than that of small things.