Blog: Posts by tim

The end of the road for Mint

Posted in News by Tim Morgan on March 20, 2018

Mint Digital Instagram midweek mountain It’s with great sadness that I announce we are closing Mint’s agency business. We will complete our existing client engagements and then cease operations within the next couple of months. We will not be taking on any new clients during this time.

In time I will write more about the reasons for this, but for now I am focussed on achieving the best outcome for our clients, our employees and our shareholders.

With this in mind, the following members of our team will be entering the job market in the coming weeks and months. I wholly endorse every person and have added their details below. If you are hiring at the moment, this is a first class list of candidates:

Projecteo Farewell Mint’s reputation as $ for $ the world’s most successful startup studio means that the most common question I get asked is: how do you know what ventures to pursue? The second most asked question is: how do you know when to stop?

This week we announced that we are to shutdown Projecteo, so I thought I’d answer the second question in the real life context of Projecteo.

Why we shut Projecteo down.

There were three reasons to shut Projecteo down:

AndyBell

Back in January 2013 Mint made the business section of the Sunday Times for its groundbreaking employee bonus pool where 50% of each person’s annual bonus was determined by their colleagues.

Fast forward to January 2018 and we were having a discussion about paying bonuses for 2017 but we decided not to go with the crowdfunded model and it felt right. So why did the company that first introduced the world to the crowdsourced bonus subsequently veer away from it?

Medium 01

This week Mint started offering technical audits as a service. It got me thinking about what agencies like Mint offer their clients and why.

Services

Go to the website of any company in our space and you’ll see a list of services or offerings that overlap but are not precisely the same. You’ll see some common language like “digital transformation”, “digital strategy”, “digital product development”, “rapid prototyping”, “discovery and validation”.

Ours say “Ventures” “Digital Transformation” and “Sprints”. In 2018 we added “Hiring the Mint Way”. I must say I don’t know whether these adequately cover what we do and I don’t know whether they are better or worse than our competitors.

That’s a bit of a problem with our industry in general - there are low barriers to entry. To be a digital transformation consultant or a software engineer, you just have to say that that’s what you are. And then you’re up and running. This seems broken to me, salesmanship shouldn’t trump competence but all too often it probably does.

I don’t really want to work at a company that makes this problem worse so how and when does Mint add a new service to its suite of offerings? Here is the path that led us to add technical audits:

TRX TV rights marketplace TRX launched worldwide this week. It’s been a huge project for us over the last three years and consensus at Mint Towers is that it’s the best piece of work that we’ve ever done. I want to capture the excitement of the moment so here’s some thoughts on why it feels so good.