We are local and linear thinkers in a global and exponential world.
Our biggest challenge as entrepreneurs is to retrain our linear brains and project exponentially.
This isn’t easy… but it directly affects your ability to do big, bold things.
In the following video from my Abundance 360 Digital Program, I discuss what exponential growth actually looks like, and the radical power it can have.
Here’s the overview…
Our brain is excellent at extrapolating linearly.
It’s easy to predict where you’ll end up after 30 linear steps (30 meters away).
But if I asked you to predict where you’ll be in 30 exponential steps — where an exponential is a simple doubling... 1, 2, 4, 8, 16, 32, and so on — it gets harder.
In 30 exponential steps you’ll be a billion meters away – put differently, you’ll circumnavigate the Earth 26 times!
Predicting exponential growth is not intuitive.
It’s probably worth memorizing the following:
- Double something 10 times, you get ~1,000x
- Double something 20 times, you get ~1 million-fold increase
- Double something 30 times, you get ~1 billion-fold increase
Entrepreneurs who understand the power of exponential growth, and can hop onto an exponential growth curve, can benefit significantly where others do not.
Let’s close with a fun experiment… If you have a child or younger brother or sister, consider giving them the following choice:
Option #1: Offer them $1 a day for the next 30 days.
Option #2: Offer them a penny on the first day, two cents on the second day, four cents on the third day, and so on.
Chances are, they take the first option.
$30 isn’t bad for zero work.
But if they took the second offer, what started out with a penny would result in $10 million on the final day.
Now we’re talking!
Remember these numbers and how vital it is to recognize exponential growth.
The same forces that enabled the fall of Kodak and the rise of Facebook can also lead to your next billion-dollar opportunity.