Last night we announced at Tomcar Australia that we’d be accepting bitcoin as a payment method when selling our vehicles. Not surprisingly we got a lot of coverage globally in news and technology circles.
The reason I came up with this idea was multi-layered. Firstly, as a new car startup (the first in over 30 years in Australia) our budgets are skinny and our brand awareness is low. It was a damn cheap way (a few dollars on coding in bitcoin payments to our e-commerce platform) to get many millions dollars worth of PR. But there is more to it than that. And this is the key reason:
Innovation is just not about what we make. It is an attitude.
At Tomcar Australia we are hell bent on disrupting the auto manufacturing industry because the model is broken and it needs fixing. It needs not only new cars better suited to their environments, but new go to market methodologies. While we know our cars are best in class, we want to be best in class in our approach to everything. To push the boundaries of commerce. Ideas and methods that seem flunky today, become the norm tomorrow. I’m old enough to remember when credit cards seemed like a crazy and risky way to take payment from customers. One of our favourite questions is this: What would the legacy auto industry never do? It’s very cool to be involved in an organisation that embraces and considers the possibilities of every suggestion, and finds a way to make it work.
A key question for start up entrepreneurs is this: where can we innovate outside of what we actually sell?