An exponential organization is an organization whose output is disproportionately large compared to the others in the market. That’s because of the new organizational structures and techniques that leverage acceleration to technologies.
In the competitive market, it’s either you are making it, or another business is benefiting from the market gaps that your organization is leaving behind. Most early-stage organizations have a better massive head start when it comes to legacy counterparts as there is no ingrained culture to compete against.
How to build an exponential organization
Achieving exponential growth is never a lap of luxury. You have to adopt new technologies that will generate a unique environment to sustain the rapid growth the business is experiencing. There are no definite reasons why these businesses are flourishing and experiencing exponential growth rates.
But there are common attributes for exponential organizations. Here are the three main factors you will need to build an exponential organization.
Massive transformative purpose
The massive transformative purpose is one of the best factors that are the heartbeat of every business trying everything possible to achieve exponential growth. With the changing business landscape and new technologies cropping up daily, any company can make a massive impact in ways you have never imagined before.
Any business with a massive transformative purpose can transform into a big company within the shortest time as it has never been imagined before. There is nothing magical about the business that is being created. All you have to understand is that you have to create an organization that will solve the needs of many people around the world.
You have to understand that you are dealing with a global issue rather than just having a mission statement that the organization is being associated with. And that’s why you need a 3 to 5-year plan to make sure that you have planned everything ok. There are different tools on the internet that you can use to create a massive transformative purpose for the organization.
These tools help create a focus that can enable exponential growth by breaking all the obsolete models that help run the organization’s activities. They inspire a lot of innovation and creativity.
According to business writers for Essay on Time, the creativity initiated in the business allows you to think outside the box and understand the constraints that are hindering exponential growth. There is no definite route that the organization is supposed to take; all that is needed is to embrace the creativity that inspires the global audience. That’s coming up with technological ideas worthy of spreading in the technical market.
Massive transformative purpose attracts top talent globally, helps create innovative new communities, and depoliticizes the organization. That’s why it’s said that the massive transformative purpose models are meant to operate beyond the current models of the organization by creating a social purpose.
SCALE – external attributes
You also need to adopt SCALE in your operations to ensure that you will achieve exponential growth in your organization. SCALE stands for staff on demand, community, crowd, algorithms, leveraged assets, and engagement.
The point on staff on demand means that you have to increase the number of full-time employees or staff and encourage the deployment of technologies that embrace automation. Although many employees mean that the organization is in a position to accomplish many tasks, the competitive market has changed a lot of things.
In today’s business world, many employees hamper maneuverability and slow down the expansion of the business. Nowadays, the high number of the workforce is becoming useless when it comes to the business’s operations, and they are just raising the expenses of the organization.
Instead, outsource your tasks to make sure that you are flexible enough to adopt new technologies that are cropping up daily and are cost-effective. The new technologies should ensure that you can build communities and do most of the operations in the public domain.
Business research experts suggest that you need to understand that; it’s not every time you will find the target customers or the right people to buy your ideas or products. With time, they will see the value that your organization is making and get attracted to the business’s operations.
With the internet and increasing social media usage, the organization can build many communities from different places in the world. The number of people generated is higher than those of the organizations that share the same massive transformative purpose. The flexibility allows for the rapid implementation of funds, marketing technologies, and exponential results.
Most exponential organizations use algorithms to scale their operations in ways that were not possible in the past few years. Instead of working on mere guesses, now the exponential organizations can make the best out of the data obtained from the set of algorithms that automate the business processes.
Making guesses can lead to disillusionment and many biased decisions that can’t take the organization to greater heights. Algorithms are the current and future components of most business processes because they can be scaled and optimized to meet the organization’s specific demands.
The leveraged assets imply that you should hold on to what is critical for the operations of the exponential organization. Instead of taking control of all the business processes, you can rent out or share the assets either globally or locally, depending on the preference of the business. As you leverage the assets, you should also ensure that you enable collaborative behavior that will give the best results per your expectations about the community.
IDEAS – internal attributes
IDEAS stands for interfaces, dashboards, experimentation, autonomy, and social technologies. It’s the internal organization of exponential businesses. To achieve exponential growth, you need to ensure that you have a customized user interface with all your target customers.
Your organization’s dashboard also needs to be real-time, with all metrics of the organization displayed clearly on the screen of the dashboard. The dashboard should also be compatible with most devices and access to many people of the organization.
Experimentation will allow the organization to experiment with different assumptions made in different organizations. You will also need to have a very disciplined team of employees who can operate in different conditions and can climatize fast.
Conclusion
Growing a business ten times more than the competitors or at an average that is more than the standard is a difficult task but very much achievable. In an open economy and the current dynamic business environment, which is highly favored by several external factors, becoming an exponential company is what many organizations aim for and they actually achieve it with some smart planning.
