Understanding the exponential concept is almost mandatory for any entrepreneur who aspires to become an exponential entrepreneur. To simplify this concept, I’ll use the 6Ds framework by Peter Diamandis. However, I added one more “D” to comply with what is happening in the modern world: delocalization.
We’re local and linear thinkers in an exponential and global world. Our brains haven’t had a significant upgrade in millions of years; but, technology is doubling in power every 18 to 24 months.
To better understand exponential growth, you must understand the “7 D’s” framework that contextualizes all technological changes and opportunities.
Now, entrepreneurs can understand and predict what the future of any industry may look like in a few years. Most entrepreneurs need to understand the implication of the technologies affecting their businesses and industries, so eventually, they can benefit by exponentiating their businesses.
Understanding exponentials will give you and your business a competitive advantage.
But one key thing to achieving exponential entrepreneurship is understanding the growth cycles of exponentially advancing technologies. These are broken up into 7 steps, known as the 7 Ds of Exponential Technology.
The 7 Ds Growth Progression:
- Digitized: Once something can be represented in the form of ones and zeroes, it becomes digitized. This means that it’s easy to access, share and distribute. Anything that becomes digitized enters the same exponential growth you see in the computing world. Digitization is turning every product or service into “1’s and 0’s.”
- Deceptive: After digitization, the initial growth period is slow. Is the beginning of an S curve. Exponential trends don’t grow very fast at first. This is the initial period during which exponential growth goes mostly unnoticed. The doubling of small numbers is deceptive, and the initial
- Disruptive: The exponential technology disrupts the old market and creates a new one. Think of something as simple as ordering a pick-up from Uber right from your phone as opposed to waiting out in the street for a taxi. Why would you choose to wave at a regular taxi? After reaching “1,” just 30 doublings later, a 1 billion is reached.
- Dematerialized: This essentially means that things become smaller. Instead of needing a desktop, you can carry a laptop. Instead of requiring a separate Digital Cameras or GPS equipment, etc. we just carry a phone.Exponential technology turns tangible “things” into digital apps.
- Demonetized: As technology becomes increasingly available, it becomes cheaper. We start to remove money from the equation. To put things into context, we now have access to applications and information that, years ago, would have cost a lot more to access. Through simple things like the Play Store, you can download an app for free or for a few cents and the app makes our lives much easier. Many times, the cost of duplicating and sending an app is essentially zero.
- Democratized: After digitization, powerful technology becomes available to everyone. Today, a farm owner in Africa has access to a smartphone and information that, once upon a time, only the Queen of England could afford. Once products and services are digital, they can go global and be found anywhere.
- Delocalized: You no longer need to be in a specific location or need an office to build or run a worldwide business empire. At this very moment, many exponential companies are being developed in garages around the world.
There are hundreds of entrepreneurs, working on the beautiful beaches of Costa Rica or enjoying Thai hospitality.
Eventually few of them will become exponential entrepreneurs, because no longer is needed to be in a specific city or office to create or run a multinational organization.
You should also visit these blogs they have valuable information and best of all they are FREE
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