
As an entrepreneur, it’s critical for you to own a few mental hacks that will help you see the world through an exponential lens.
Let’s examine 4 in particular:
1. Skate to Where “the Puck-Is-GOING-to-Be”: If you’re building a new startup using exponential technologies, it’s critical to design your business anticipating where those technologies will be in 3 or 4 years—rather than today. Otherwise, when you come to market the technology could already be out of date.
2. Think About 10X Growth: Most people aim for incremental growth of 10%. They’re happy with 10% lower costs or 10% higher profits. But exponential thinkers are asking, “How do I make a 10X (1,000%) improvement?” Once you ask this magnitude of question, it forces you to think in a new paradigm.
3. Embrace Data-Driven Experimentation: Exponential entrepreneurs use rapid iteration and data-driven experimentation to foster creative solutions to previously unsolvable problems.
4. Digitize Everything You Can: Once you digitize a product or service, it jumps on the 6 Ds Exponential Roadmap, dematerializing, demonetizing, and democratizing that product and service. Let me be clear: when you have an Exponential Mindset, you look at how you digitize anything and everything.
Peter Diamandis is the founder and executive chairman of the XPRIZE Foundation.
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