Six ways to become an Exponential Entrepreneur

1. You MUST understand exponentials

We’re local and linear thinkers in an exponential world.

Our brains haven’t had a significant upgrade in over two million years, whereas our technology is doubling in power every 18 to 24 months. Exponential technology is transforming products and services and disrupting industries.

The 6D’s of progression:

- Digitised
- Deceptive
- Disruptive
- Demonetise
- Dematerialised
- Democratised

I let Peter Diamandis dig deeper in the 6Ds with these 4 minutes video: https://youtu.be/EMgO3xu1L70

Exponential entrepreneurs use the 6Ds as a technological road map to predict where technologies are going and when to capitalise on the opportunities.

The framework gives them an unfair advantage over competitors.

How can you use the 6Ds framework in your business and industry? It’s a very interesting question. You probably need some guidance with it that I’ll be happy to provide for you and your company.

2. You see Abundance, not scarcity

Exponential entrepreneurs understand that technology is a force that transforms things from scarcity to abundance.

They have an Abundance Mindset.

Exponential tech is creating a world of abundance in almost every major area, including education, energy, finance, healthcare, and transportation. Once these industries transform from scarcity to abundance, their products and services become cheap (or free) and their quality goes through the roof.

Many things that we paid millions of dollars for just two decades ago are now available for free on our smartphones.

The challenge is that our minds evolved during a world of absolute scarcity, and most people are trapped in an unhealthy “Scarcity Mindset.”

In a world of scarcity, there is a limited pie. If your neighbor gets a slice, it means that you get a smaller slice. But with an Abundance Mindset, rather than slicing the pie into thinner and thinner pieces, we just bake more pies, millions more pies.

Exponential entrepreneurs also know that scarcity-minded, closed business models ultimately fail, and that open platforms ultimately win.

3. You Leverage Exponential Tech

Today we talk about technologies, exponential technologies such as 3D printing, VR, AR, Spatial Web, Artificial Intelligence, Blockchain, Biotech, Longevity, Robotics and so many other new technologies.

Exponential entrepreneurs understand that these are the technologies that can transform and disrupt industries.

They see how these technologies are allowing individuals to do what was previously only possible by governments and the largest corporations.

And further, they know that today, you don’t have to become a technologist yourself, but instead take the first step: to understand the potential and implications of the technologies.

4. You have an MTP and a Moonshot

MTP is for Massive Transformative Purpose. It’s not your why, it’s the reason why your company or business exists and why it is different from your competition.

Here’s an example: TED — Ideas worth spreading. The famous organisation TED that created the famous world class conference is a perfect example of what an MTP is. TED sets up itself as the perfect platform to share new and innovative ideas.

Exponential entrepreneurs have a MTP that drives them to power through hardship and attracts the best talent to join them.

The most successful entrepreneurs then use their MTP to power their Moonshot: a product or service that allows them to go 10X bigger or better while everyone else is pursuing incremental change.

The best entrepreneurs subscribe to Google’s eight innovation principles, making them central to their startup mindset:

- Focus on the user
- Open will win
- Ideas can come from everywhere
- Think big, but start small
- Never fail to fail
- Spark with imagination, fuel with data
- Be a platform, float all boats
- Have a mission that matters

What about you and your business or company? What is (or will be) your MTP & your Moonshot?

Share and spread it to the world.

5. You leverage the crowd for expertise, solutions & capital

Leveraging the crowd for expertise, solutions & capital

Exponential entrepreneurs can crowdsource nearly everything they need: ideas, capital, design, software. All of that to grow their company.

And they take advantage of these abundant resources.

We live in a hyper-connected world of 4.5 billion, growing to 7 billion+. Around the world, cognitive surplus can help you build your products, services, and drive innovation. Regardless of your company’s size.

With current technology, people can work from anywhere in the world at any time, and large corporations can tap into this global knowledge base to improve their systems.

Perhaps one of the most powerful aspects of the crowd is its ability to provide you with capital: either in the form of equity or advanced market commitments. Crowdfunding has grown into an opportunity worth multi-tens-of-billions of dollars, providing more capital to today’s startup game than any time ever in human history.

Access to startup capital is no longer scarce. For exponential entrepreneurs, these capabilities are second nature.

All you need to know is exactly what you want. If you do, in most cases, the crowd can do the rest.

6. You launch your vision, experiment & disrupt yourself

Exponential entrepreneurs bring their ideas to life.

These entrepreneurs understand the importance of action, rapid iteration, and experimentation. They follow Reid Hoffman’s philosophy: “If you’re not embarrassed by the first version of your product, you’ve launched too late.”

They understand the importance and means for rapid experimentation and iteration. They push tirelessly to reinvent and disrupt themselves.

They drive idea exchange and create a culture of idea interaction capable of fostering creative solutions to previously unsolvable problems.

They understand where, when, why and how breakthroughs happen inside the communities they create.

They know how to constantly keep their companies, ideas, and processes focused on the future, moving forward, and leveraging the latest exponential growth techniques in the pursuit of even bigger goals.

We live in incredible times.

The potential for entrepreneurs to disrupt industries has never been greater.