There are people who shy away from challenges and then there are people who are energized by attacking challenges and “defeating” them!
There are pros and cons to both approaches. However, I am not aware of any great accomplishment or breakthrough ever happening because someone was running away from a challenge!
All major technology, medical, literary, artistic, or other societal impacting breakthrough has happened because someone identified a challenge, took it on, and solved it!
I was reminded of this by my grandson Jett. He is going through a phase where scaring him does not result in him running away. Rather, he turns towards the “threat” and runs directly at it. He is challenging the threat!
This does not mean that he is always successful in “defeating” the threat. In fact, most of the time he fails . . . but this does not deter him or keep him from trying again!
And, as business leaders, this is what we all should be doing!
Things You Can Count On By Taking on Challenges
I recently attended a conference in Anaheim, CA and one of the presenters, Earl McClellan, made a statement to the effect of “Nothing great is built on minimums!”
It took a minute or two for that to sink in . . .
My mind raced through business cases, famous start-ups, and concepts like Minimal Viable Products (MVPs from Eric Ries). There are so many examples of great movements and uber-successful businesses starting from precarious, humble, and minimalistic origins. So how could this statement be true?
However, after a few minutes of thought, I concluded that I agree with the statement and this is why!
This week’s book review is The Art of Work by Jeff Goins
Goins believes that every person on earth is here for a reason and a purpose. He does an excellent job of describing the seven step process of discovering your purpose:
In 1998 Google burst onto the Internet scene and went from $0 market cap to $1 billion in 8 years. This was unheard of growth! A typical Fortune 500 company takes 20 years to achieve that same $1 billion mark.
However, since 1998, the time to grow from $0 to $1 billion market cap has steadily decreased. Facebook did it in five years, Tesla in four years, Uber in two years and Snapchat and Oculus Rift did it in just under two years!
According to the book Exponential Organization (by Salim Ismail, Michael Malone and Yuri van Geest) an “ExO” or Exponential Organization is an organization that display an exponential level of growth.
As you can imagine, any organization that undergoes exponential growth also undergoes exponential change. This change can easily destroy the organization completely or severely impact its growth unless it is handled correctly.
This week’s book review is Exponential Organizations by Salim Ismail, Michael S. Malone and Yuri van Geest.
According to the authors, “An Exponential Organization is one whose impact (or output) is disproportionally large—at least 10x larger—compared to its peers because of the use of new organizational techniques that leverage accelerating technologies.” An exponential organization can be characterized by an MTP – Massive Transformational Purpose (a strong Vision) and at least 4 of the following 10 attributes that are leveraged to achieve the exponential growth: