Crearing Exponential Value
The digital era has given us a lot of great conveniences, but the most exciting for business leaders, is how digital gives us greater access to exponential outcomes.
To create exponential value, it’s imperative to first develop an exponential mindset. The incremental mindset focuses on making something better, while the exponential mindset focuses on making something different. Incremental is satisfied with 10%. Exponential is out for 10X.
Your legacy systems and traditional strategies are linear and incremental. Digital transformation is about getting the business/organisation to exponential scale.
Unless you are conscious and diligent, you can end up with a strategy that looks digital (i.e. uses digital technology) but doesn’t actually operate digitally (i.e. achieves accelerating returns).
At the start, it takes vision and a leap of faith to commit to the unknown. In the early days, it takes courage and patience to build the foundation for growth even when results aren’t yet apparent. When growth kicks in, agility comes from empowering others and letting go without losing control. In all of the stages, the challenge is to “unlearn” familiar ways of thinking and embrace the unfamiliar. But with a shift from the incremental to exponential mindset comes the opportunity for real innovation and category transformation!
An exponential mindset is committed to;
- Learn – grow, expand, understand, use the 5 Why’s questioning system
- Unlearn – yesterday’s answers are the key to tomorrow’s failure
- Overturn – your responsibility is not to producing the next thing. But achieving a New Thing!