Linear or Exponential – Which Type of Startup Are You?

 

Coined from the term ‘unicorn startups,’ exponential organizations are generating billions quicker than anyone can imagine. Exponential organizations are making way for themselves among linear businesses by leveraging an array of exponential technologies, embracing cultural shifts, and surpassing corporate immunity.

But here’s a million-dollar question: What makes an organization exponential and not linear? What are the actions that billion-dollar-worth ExOs have taken that steered their growth?

To find out whether you are an exponential software development company such as Vates or a linear startup, take a look at this article. We’ll ask you seven questions, the answers to which will define what kind of startup you are.

What’s Your Thought Process?

Here’s the first question. What’s your thought process? Do you think about doing better, or do you think of doing differently? Exponential organizations and entrepreneurs don’t look at ways to improve existing products or just do better than their competitors. Instead, exponential entrepreneurs think of doing things differently, offer a new product, and solve problems their own way.

Do You Have an MTP?

A Massive Transformative Purpose (MTP) is a must-have for an exponential startup. ExOs are driven by their MTP and put it at the forefront of their IoT solutions, product development, and business processes. If your startup lacks an MTP, it’s unlikely to make it as big as the exponential organizations you have been inspired by.

Are You Leveraging Technology?

Another crucial factor that makes exponential startups different from linear businesses is technology. Exponential organizations thrive on exponential technologies and leverage them to the full extent. You're an exponential startup if your business uses IoT, data analytics, edge computing, artificial intelligence, and machine learning.

Where are You Investing?

Are you investing in asset-building? Or are you more focused on investing in technology? Exponential organizations invest in technology more than they invest in people or assets. In fact, most ExOsbenefit from outsourcing services such as Vates, and piggyback hired assets and infrastructure. One such example is the largest ride-hailing service Uber which has no fleet of its own.

Are You Willing to Think Outside the Box?

Exponential startups are nothing if not innovative. As an exponential startup, you must be willing to take risks and think outside the box. This is how exponential organizations of the past have made a dent by offering unprecedented and unexpected services—case in point, Facebook, Airbnb, Spotify, and others like them. Once again, exponential entrepreneurs think about doing differently instead of doing better.

Do You Have a Global Impact?

As an exponential startup, your product or service is not restricted to a certain group of people or a limited geographical area. ExOs have a global impact, and they make the most of their reach. Even if you start small, your product should be big enough to ultimately have a global clientele.

Are You Looking at the Data?

Lastly, are you utilizing the tons of data this world is producing? Exponential organizations leverage big data analytics and services such as Vates.

And to learn more about exponential organizations, you can get in touch with Vates for its ExO Launchpad. The South American software development company also offers custom development and IT consulting services.