Exponential Organizations – Salim Ismail

 Here are my comments on the book:

Have you ever wondered how companies these days are able to grow at the rate that they do? Now more than ever are we seeing billion dollar companies grow within such a short time frame. Entrepreneur and strategist, Salim Ismail, addresses how the utilization of information and technology have enabled companies to grow at the exponential rate that they do. In addition, he states that the ability to effectively implement these two acronyms, IDEAS (Interfaces, Dashboards, Experimentation, Autonomy, Social technologies) and SCALE (Staff on demand, Community and crowd, Algorithms, Leveraged Assets, Engagement), is the result of an organization’s success. This is a comprehensive book that should be read if you want to grow your company at an exponential rate. Points taken away:

 

1. Think exponentially, not linearly. A lot of companies these days that are failing are thinking linearly while their competitors are thinking exponentially. “The former is a classic example of linear thinking, the latter of exponential thinking. While Nokia’s linear strategy was dependent on the speed of physical installation, Waze benefited from the exponentially faster speed at which information can be accessed and shared.

 

2. Access to information is what will lead you to success. Just as Warren Buffett has said before, “the best investment you can make is an investment in yourself…The more you learn, the more you’ll earn”. “Information is your greatest asset. More reliably than any other asset, information has the potential to double regularly. Rather than simply assembling assets, the key to success is accessing valuable caches of existing information.

 

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3. Math is everywhere, so get good at it. A piece of advice that I had heard from entrepreneur Tai Lopez is that if you don’t know math, you won’t be rich. In his experience, he’s never met a successful entrepreneur who doesn’t know the language of money (math). “In 2002, Google’s revenus were less than a half-billion dollars. Ten years later, its revenues had jumped 125x and the company was generating a half-billion dollars every three days. At the heart of this staggering growth was the PageRank algorithm, which ranks the popularity of web pages. Google isn’t alone. Today the world is pretty much run on algorithms.

 

4. Consistently experiment and take risks. Success is acheived all through trial and error. You only “fail” if you give up. As long as you keep pushing forward, you’re on your way to success. “Mark Zuckerberg agrees, noting, “The biggest risk is not taking any risk.” Constant experimentation and process iteration are now the only ways to reduce risk.

 

By Ryan Lee

 

My rating:
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Check out the book here:
Amazon USA
Amazon Canada
Amazon UK

 

Thank you for reading! Please comment below on which point resonated with you the most or if you have a story to share. If not, please leave a comment below about a book that you’re currently reading or a book that you suggest and your takeaways from it as I’d love to read your comments! Please join my Facebook group here follow my Twitter here like the post, or share it.

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