Building an Exponential Organisation (ExO)

ExO Attributes

In order to build and run an exponential organisation, Salim Ismail, author of Exponential Organisations,  suggests that a company must have an MTP and at least 4 of the 11 attributes depicted in the diagram above. In order to determine whether you can consider yourself exponential they developed an exponential quotient and a test to determine your exponential quotient. You can take the test here. Once you have completed the test share your results so that we can improve the score and celebrate the road to exponential.

The one non negotiable of an Exponential Organisation is an MTP. This is a Massive Transformative Purpose. People have called this a Big Hairy Audacious Goal (BHAG) or a company Vision and Mission. It is vital to understand that whatever you call it the Purpose of the organisation must be something that is massive and transformative and all the values of the organisation and the goals must work towards achieving it. This is not a nice to have slogan on the wall. This is what the organisation must live by. Some Examples of MTP’s are:

  1. SpaceX: “Humans must become a multi-planetary species”
  2. TED: “Ideas worth spreading.”
  3. X Prize Foundation: “Bring about radical breakthroughs for the benefit of humanity.”
  4. Google: “Organize the world’s information.”

Once you have developed your MTP the next step in being exponential is to understand the internal and external Characteristics that make an organisation exponential. The internal characteristics are Interfaces, Dashboards, Experimentation, Autonomy and Social. The acronym used is IDEAS. The external attributes are Staff on demand, Community and crowd, Algorithms, Leveraged assets and Engagement. The acronym used is SCALE.  The tables below summarise these attributes.

IDEAS – The Internal Characteristics of ExO’s
Characteristic What is it? Advantages Requirements
Interfaces Provide the bridge between external activities and internal control frameworks, e.g. platforms, user interfaces, API’s •Filter external abundance into internal value

•Link external growth drivers to internal stabilizing factors

•Automation allows scalability

•Standardised processes

•Scalable externalities

•Alogorithms

Dashboards Metrics to measure, real time and meaningful •Track critical growth drivers in real time

•Objective-Key Results (OKR) as management framework

•Minimise errors by short feedback loops

•Real time metrics

•Analytical capability

•OKR’s

•Cultural acceptance by employees

Experimentation Lean startup methods of testing assumptions and consistently experimenting with controlled risks •Keeps processes aligned with rapidly changing externalities

•Maximised value capture

•Faster time to market (Minimal Viable Product)

•Risk taking provides an edge and faster learning

•Measurement and tracking of experiments

•Cultural acceptance

Autonomy New “empowered” or team based organisational forms •Increased agility

•More accountability at customer face

•Faster reactions and learning times

•Better morale

•MTP

•Self starting employees

•Dashboards

Social Technology Create horizontal interactions in vertical organised businesses •Faster Conversations

•Faster decision cycles

•Faster learning

•Stabilizes team

•MTP

•Cloud social tools

•Co-operative culture

SCALE – The External Characteristics of ExO’s
Characteristic What is it? Advantages Requirements
Staff on Demand More part time, specialised,

mission based staff

•Best skills for the job

•Agility

•Learning of core team

•Stronger bonds in core team

•Capability to hire services on demand

•Clear task specifications

Community & Crowd Harness the power of the community and crowd by engaging with them through whatever means •Increase loyalty

•Enable exponential growth

•Validate new ideas and learn

•Agility & rapid implementation

•Create new ideas

•MTP

•Engagement

•Authentic leadership

•Easy to participate for outsiders

•Peer to peer capabilities

Algorithms Use data and automate decisions or reduce human biases while making decisions •Scalability of products and services

•Leverage connected devices/ sensors

•Lower error rate & stabilize

•Easy to update

•Machine or deep learning

•Cultural acceptance

Leveraged Assets Use assets, do not own them unless they are scarce •Scalability of products and services

•Lower marginal costs of supply

•Removes having to manage assets

•Agility

•Easy available assets

•Interfaces

Engagement Engage community and crowd •Increase loyalty

•Gain ideas

•Converts crowd to community

•Leverage Marketing

•Play & Learn

•Digital feedback loop to customers

•MTP

•Clearness & fairness

How Exponential is your company and what is your MTP?

 

So what are Exponential Technologies anyway?

In 1965 Gordon Moore wrote a paper in which he described the phenomenon that the number of transistors in a dense integrated circuit doubles about every two years. This is what has become known as Moore’s Law. We have all seen the picture of the IBM 5MB Hard drive in in 1956 vs an SD card. This doubling has resulted in exponential growth.

 

data stprage evolutionThis exponential growth is now happening in a number of technologies, and these are exponential technologies that we are talking about. Singularity University describe these as below:

Exponential technologies are those which are rapidly accelerating and shaping major industries and all aspects of our lives.  For a technology to be “exponential,” the power and/or speed doubles each year, and/or the cost drops by half.

Exponential technologies include artificial intelligence (AI), augmented and virtual reality (AR, VR), data science, digital biology and biotech, medicine, nanotech and digital fabrication (3D printing), networks and computing systems (incl. IoT, cloud), sensors (incl. wearables and insidables), robotics (incl. drones), blockchain, energy,  and autonomous vehicles.

As described above there are a number of technologies that are on exponential growth curves and when these are combined it is providing extremely disruptive products and services which are changing the way that we live.  For examples the winners of the Tricorder X Prize have leveraged the exponential growth in sensor technology, artificial intelligence, machine learning, cloud computing, networks, etc. to develop handheld devices that can diagnose multiple diseased better than a doctor.

Having an understanding of these exponential technologies and how they are affecting the world that we live in is vital to be relevant in the 21st century. If you are running a business now or are looking to start something new it is more important than ever to understand what exponential technologies you can leverage.

David Rose quote

I look forward to sharing more on this topic and many others.

The road is changing

Changing road

Shit is about to get real. I have made a decision that I am going to become more active in sharing online through this blog as well as through other mediums. The reason for this decision is that I have decided to move away from the certainty of a solid stable income (Working primarily with Wealth Migrate) to a life of more freedom to work longer hours… consulting in the Exponential and crowdfunding space and building a brand called PIONEERtribe. In the 21st Century business looks different from what many of us know and I know that I will remain within the ecosystem of sharing and abundance in which Wealth Migrate finds itself.

So you can expect to have regular sharing of exponential technologies, business strategies, travel, motivation, my life, my opinion, fun, etc. I am looking to grow a community of people that have the same values as myself and a vision of the 21st century that is good and focuses on benefiting the planet  with ABUNDANCE.

PIONEERtribe blue with black

PIONEERtribe is a community of 21st Century Entrepreneurs changing the way society functions:

  • We are people who love technology and what it is doing to make the world a better place
  • We are people who believe in abundance and look for the best in all situations
  • We are problem solvers
  • We are constantly learning
  • We are global
  • We are authentic
  • We love to travel
  • We are exponential thinkers
  • We live with purpose

If this is something that excites you then let me know and I will see you on the journey. PIONEERtribe will be launched later this year with a bunch of content and sharing. For now I am building that up.

Here is to an amazing future that is full of opportunity for everyone. A future in which African economies are robust and technology is ubiquitous. A future that is community driven and full of excitement and fun!

 

A Growing Passion | Crowdfunding | It’s History

As the Internet becomes a more prolific force in the lives of more humans we are definitely going to see greater collaboration using internet enabled platforms. Peter Diamandis speaks of the rising billions in terms of the emerging world’s citizens who are gaining access to the internet. This is extremely exciting as greater access to the internet allows people to collaborate more efficiently. Essentially crowdfunding is human collaboration enabled by Technology. Crowdfunding gives people opportunities that may not have been possible prior to the internet. It is extremely exciting to think about how this can positively affect the emerging world.

If we take a closer look at crowdfunding we will see that this is not a new idea, humans have been collaborating for centuries. Examples of pre-internet crowdfunding are:

  • Praenumeration: Subscription business model used to gauge demand before printing books in the 28th century. Not exactly crowdfunding but similar in terms of getting the crowds approval.
  • War Bonds: This is essentially the crowd funding war
  • Statue of Liberty Base: Joseph Pulitzer’s New York World, raised $102,000 in 1885 from 120,000 donors, with 80 percent of the total received in sums of less than one dollar.
  • Rotating savings and credit association’s, or ROSCA: There are many examples across the world where groups of people get together to pool money for particular purposes.

The foundation of crowdfunding via the internet though can be traced to the British rock group Marillion who in 1997 used donations from fans to pay for their US tour. In the same year writer/director Mark Tapio Kines designed a website to raise funds for his then-unfinished first feature film Foreign Correspondents. It was not really until 2003 when Brian Camelio, a Boston musician and computer programmer, launched ArtistShare that crowdfunding really started gaining traction. Maria Schneider’s jazz album “Concert in a Garden.” was the first project on ArtistShare and the campaign raised about $130,000. She won a 2005 Grammy Award for best large jazz ensemble album. This was the birth of rewards based crowdfunding and sites that we know such as Indiegogo and Kickstarter  launched in 2008 and 2009.

Debt Based crowdfunding saw its roots prior to the establishment of these rewards based platforms with the establishment of Zopa in the UK in 2004/5 and Lending Club in the USA in 2006.  The use of the internet to facilitate the collection of donations was in place long before donation based crowdfunding emerged in 2010 with the launch of  GoFundMe, which has raised over $2Billion to date.

In terms of Equity crowdfunding most information you can find focuses on the Jobs Act and America’s process to equity crowdfunding, EquityNet was founded in 2005 for accredited investors. You may not know that ASSOB took equity investing online in 2005 in Australia or that Crowdcube (founded 2010) and Seedrs (founded 2009) out of the UK are two of the most successful platforms for every man on the street.

This was a quick history and I have tried to make sure that it is as factually correct as possible. If I have made mistakes please comment about it.

This is most likely a good place to mention that I an working for a real estate crowdfunding company and together with some others based in Africa we have established the African Crowdfunding Association (ACfA) as a way to educate more and ensure that crowdfunding can impact Africa in a positive way!!!

 

 

Sunday Rambling | It’s been a while!

Working 7 days a week has become my norm for 2016. I have found that I have quite a resilience and enjoy a life that is full of busyness rather than nothing to do. Working in a scale up business in the fintech space has definitely been worth it to date. I have met awesome people and have had to learn and stretch myself in different areas. I am enjoying being out of the pharmaceutical world; being confined to the box of pharmacist.

I count myself very fortunate for the situation that I currently find myself in. Sure it is definitely not easy or simple but doing something important never is. I have worked hard in order to be in a situation where I can make a difference. So some of the negatives are: personal projects are on the back burner, my body is being neglected, I am not focusing on my social life.

Realising the negatives and ensuring that I do not forget about them and overcoming them is important. People go on about the journey of life and I do want to make sure that I am making the most of it.

Part of my current role has allowed me to look into different companies, researching and learning in order to ensure that we know where we stand in terms of our industry and what we need to do to push forward. Doing this has reminded me how full of information the internet is and how so much information is lost in the enormity of it, for example how this blog is a microscopic speck in the galaxy of the internet. One could look at this in two ways: I am insignificant and therefore should play no role on the internet or wow, there are billions of people who are a potential audience.

I will be sharing some of my internet finds moving forward and plan to take on a more consistent role of sharing online.

So this week I will share a find that was sent to me by our CEO, Scott Picken. If you are interested in start-ups, venture capital and entrepreneurship then check out CB Insights. You can sign up for free for 30 days and you can find out a whole lot of information regarding the funding of companies and more. The info is pulled from the internet and it not completely accurate, I say this as the info on our company is not completely correct.

That is it for today.