The 6 Ds of Exponential Growth
Today, we’re talking about the Six Ds of Exponential Growth, a concept posed by Peter Diamandis. If you don’t know who Peter Diamandis is, I highly recommend checking out his content — he’s the CEO of XPRIZE, author of several amazing entrepreneurial books, and has given phenomenal Ted Talks.
His concept, the Six Ds of Exponential Growth, blew me away. When you apply them to what’s happening in the world right now, you can see how the wheels are in motion right now. And that’s the power of this concept. So I wanted to share my interpretation with you, my community, so that you can apply it to your own lives for exponential growth.
What are the Six Ds?
To radically grow your own business, you must first digitize. In this day and age, being digital is key. Of course we still have brick and mortar shops all over the world, yet these shops can only serve their immediate communities. If you’re seeking exponential growth, you must first seek to take your business digital — even if you still have a physical location.
Think about the world we live in today. Centuries ago, we only had paintings to commemorate or immortalize people and places. Then different types of photography developed, where slightly more people had the resources to partake. In the last several decades, photography has moved entirely digital — and now it’s accessible to anyone with a smart phone. Physical photo albums are vintage, and we’re now in the era of rapid fire photos (Snapchat, Instagram, and more).
Even money is now being digitized — beyond credit cards and mobile banking. Now, crypto currency is more accessible than ever, and the whole world is opening the doors to crypto currency. If my predictions come true, the US will produce its own digital dollar in the coming months or years. In fact, there are already proposals. With the European Union and China moving forward with digital currencies, the US won’t be far behind.
- Deceptive Growth
The second step is growth that happens under the radar. Peter Diamandis uses 3D printers as an example. In case you didn’t realize, 3D printing technology has existed for almost 30 years. It’s growth has been so deceptive, it’s almost hard to believe how rapidly the technology is advancing.
It was perhaps only a decade ago when the average person even had 3D printing on their radar. Now, more households have access to 3D printers, and colleges and public schools are even building course curriculum around it.
3D printing is actually perfectly primed for the next phase, which is…
- Disruptive Growth
Disruptive growth is when a product really begins to make waves in its respective industry. Think about door-to-door salesmen, who used to sell everything from encyclopedias to glue. Well, those encyclopedias entered the digital space, with early computers and internet search engines. The growth was deceptive at first — computers weren’t a household staple for a while. Then, that internet access was moved to the palm of our hands, totally disrupting the information industry. How often do you reach for an encyclopedia now, before you reach for your phone to Google something?
Door-to-door encyclopedia salesmen are a thing of the past. In the same way, you could say that Amazon disrupted the same industry — first by creating a digital bookshop, then slowly becoming one of the world’s leading sellers of…just about anything you can think of. Now, physical stores of all types are competing with the superpower of Amazon 1-day delivery.
What did Uber do to the taxi industry? What did Airbnb do to the hotel and hospitality industry? The examples go on and on. After these companies go digital, they grow slowly until suddenly there’s an idea that changes the industry completely — making it more efficient and consumer-friendly than before.
After a certain level of growth, there is actually a point at which the physical parameters of the industry shrinks. Computers used to take up an entire room, and now fit in the palm of our hands. Physical hotels are now being replaced by the Airbnb market, where people rent apartments and houses, often at better prices. Retail stores are shrinking under the power of Amazon. “Home phones” are becoming an antiquated idea, because everyone has a cell phone now. In fact, it’s almost hard to believe that a decade ago, not everyone had a cell phone, let alone a smart phone. Remember when you had one handheld device for music, and one for calling and texting?
Disruptive technology ultimately takes over and eliminates the demand for physical industries, or it combines industries and makes them more efficient than ever.
Many years ago, I remember going to my local 7/11 to buy a calling card. I’d have to punch in a bunch of numbers into the phone, just to call my parents in South Africa. I’d have a limited window to talk, before I’d have to go buy another card to continue the conversation. Now, we can jump on Zoom, Skype, or Facetime whenever we want.
This is the step where we can now make connections around the world. Social Media has eliminated barriers of communication. Video conferencing has made it possible to have real time conversations with dozens of people at once, anywhere in the world. This phase is about access and connection.
Finally, you have demonetization. This is what is truly incredible. Once a piece of tech becomes widely adopted, price becomes less of a barrier. Think of Star Trek for a moment — there was a point in time where the technology in Star Trek seemed literally out of this world. A screen would pop up, and suddenly a character would be having a conversation with another person or alien through video. Now, we do that all the time, for free. We’re literally using Star Trek technology, and it’s amazing.
How Are You Growing?
I truly believe that we are living through one of the most exciting times to be alive. So much is happening, new technology is always being developed, and exponential growth is happening all around us. AI, robotics, 5G, and 3D printing — among other things — are rapidly developing, and we will be around to witness it.
Are you taking advantage of these opportunities? Either you’re growing or you’re dying — so I hope you choose to grow. Whether that means moving your business model towards digitization (and onwards), or researching and investing in disruptive technology, I hope you choose the path of growth.
Live your Freedom, Live Your Legacy, On Your Own Terms,
M.C. Laubscher is a husband, dad, podcaster & Cashflow Specialist. He helps business owners and investors create, recover, warehouse & multiply cashflow. You can learn more about exclusive cash flow strategies in M.C.’s new video series at https://www.yourownbankingsystem.com/