Hello and welcome to the first episode of ExO Builder Podcast.
My name is Georgi Kamaliev.
I’m a builder and business owner.
I’m naturally curious and open to new ideas and information and love to learn new things and put them into practice.
I love asking questions and one question that I started asking myself actually changed my life.
Why are some people more successful than others?
What do they do differently and succeed and others don’t?
So I started studying successful people, read books and applied training programs to find the answers.
For example, Elon Musk. He didn’t have special education, knowledge, experience in the field of energy, space and cars when he started companies in these sectors but he was able to build market leaders in all of them for 10 years or less.
How is that possible? What is the reason for this exponential growth?
Often, when we think about information technology and how it impacts our lives there is only one layer at play.
In the past we used technologies to help develop the business. Now technology is the business itself.
Today it’s not only about information technology. With twelve, fifteen or even twenty technologies today that are doubling in price performance while also intersecting each other to create an exponential effect on businesses and society as whole we need look no further than this.
In recent years many different types of innovation have been popping up all around us producing incredible results but what makes them so special?
It’s not just their sheer numbers either.
Rather its combination together into new cocktails which lead us toward greater heights than ever imagined before!
The next few years are going to be a transformative time for all of us, as technology continues its rapid evolution and we learn how it can impact our lives in ways both wonderful or concerning.
Look at IoT or 3D printing as an example of what’s possible now that might not have been imaginable just 10 – 15 years ago.
Let’s don’t forget solar energy which has proven itself capable of becoming abundant with little effort required. It grows exponentially, and essentially energy probably will become free.
This would represent quite the paradigm shift if true!
Chile Is Producing So Much Solar Energy, They’re Giving It Away For Free.
I heard this first from Salim Ismail – the author of Exponential Organization and Exponential Transformation books, the founding executive director at Singularity University, one of the founders of ExO works.
I was shocked. How is that possible and is it a good thing at all? Actually abundance is driving down energy prices to zero.
The ability to adapt is going to be severely challenged on one side, but if you’re an entrepreneur there’s opportunity that gives infinite possibilities.
I’m sure most people knew that fact when the printing press was first introduced in the 15th century.
It changed everything we knew before then-and every day after this point until now! That moment set off what would become known as “Gutenberg moments” where innovations continue coming at such high speeds and not only one technology but with six or eight more just like them hitting us all over again.
And these events might seem unstoppable and I hope they will be turned into opportunities to transform lives.
Take technologies like CRISPR in biotech for example. It allows us to edit our DNA in a genome, the complete set of genetic instructions in an organism.
Thanks to this technology, we now know what causes certain traits and illnesses like Alzheimer’s disease or diabetes! One reason why it is so popular among scientists today is its ability for modification on an unprecedented scale at very low cost.
Maybe now is the best time to be an entrepreneur, because the water you’re navigating has never been more uncharted. But it’s also very dangerous – and there are few things less easy than figuring out how this new world works for legacy businesses like yours!
So, there’s over a hundred organizations that are delivering 10X better, faster, cheaper than their competitors in the same space? That is certainly interesting research!
Salim Ismail and team studied more than 100 exponential organizations and shared a lot of examples and case studies in his book published in 2014.
By the way there is a new edition of Exponential organizations book that is about to appear in a few months with even more research statistics and actual data. You can preorder it on Amazon. It costs 2 dollars which is basically zero compared to the value it provides.
And in his book Salim Ismail documented and analyzed how these companies are doing it.
What characteristics do they have? What techniques they use to achieve this tremendous growth. He identifies 11 attributes, as they called them exponential attributes. These include leveraging algorithms and heavy use of data analytics as well as community involvement – all key parts in achieving exponential growth!
With the help of four out of these 11, you can create a business that thrives in an environment with no limits. They call this exponential model and it’s what we’re seeing more often now in the examples.
All businesses were once based on managing scarcity – literally if they didn’t have any shortages or limitations then there wouldn’t be anything worth fighting over!
With this new abundance model, it’s not just about managing the amount of products or services that you have but also how they are perceived by your customers. The way in which people respond to these circumstances has changed drastically and we refer to our businesses as exponential organizations because their growth rate is off-the chart!
We’re living in a time when technology is driving more and more domains to abundance. The big question then becomes how do we create value? If you think about Airbnb, they are tapping into an overabundance of extra bedrooms that are lying around as well as cars for hire through Uber- both companies are thriving because there’s so much available!
What are the implications of this for your business?
If you’re running a service that is currently operating in an environment where there’s a scarcity, such as diamond trading or heavy industries, then it might be time to reevaluate. In today’s world, new technologies have enabled us not only with alternatives but also abundance – which means we need to create different business models than before!
The future of business is not just about managing resources, it’s also allocating them. In the current paradigm we are used to thinking in terms of how much there was kind or resource that you had and then trying your best with what little amount you have.
While simultaneously watching for any changes so as not to want more than necessary.
But soon enough these days might find yourself having trouble keeping up because abundance could come at any time.
Where does one go from here?
The question becomes: “What do I need now?”
And if someone has never experienced sudden prosperity, unexpected by many around him/herself, during times when everything seemed possible could be shocking.
It may sound like something you can only relate with science fiction movies about space exploration but it could very well become our reality if people don’t start paying attention now!
The world’s energy supply has always been scarce, but in the next few decades it will start to be abundant. A 6 trillion dollar industry is gonna shrink down to about 1T over 20-25 years.
Technology continues its inevitable disruption of every aspect of life on Earth!
But with these changes also come new opportunities for you – if your business can adapt accordingly by making sure that they’re prepared and ready themselves beforehand.
The time period we currently live through might very likely be one where there are sudden shortages or inflationary pressures coming from various sectors all at once (energy being just one). This means now more than ever before may represent an excellent opportunity should any enterprise wish so to pursue growth based strategies.
We’ve got enough data from research and case studies now with many companies implementing these ideas, either in startups that you build from scratch or legacy business.
So think about that.
What would be the price you pay if you don’t act right now?
What’s its opportunity cost if not done right?
And what are some benefits of doing it?
For example ExO Works Platform developed a 10 weeks ExO sprint which moves leadership culture and management thinking two-and a half years ahead within ten weeks!
So I’m excited to share data sources and information for implementing change management strategies that will lead your business in the right direction. We’ll provide clear instructions on how you can start using these techniques today, and we think it’s worth it.
So what are your thoughts about that? I would love to know.
See you next time.