BOLD is my ‘how to manual’ for entrepreneurs providing you a step-by-step guide for going Big, Creating Wealth and Impacting the World.
In this Blog I want to share 11 fundamental take-aways, one from each chapter of BOLD.
Today the world’s biggest problems are the world’s greatest opportunities. Want to become a billionaire? Help a billion people. Here’s eleven key take-away’s from BOLD to help you get there…
- Agility will trump size: In the same year that Kodak went bankrupt (2012), another company in the digital imagery business (Instagram) was acquired by Facebook for $1 billion, but Instagram had only 13 employees. As the rate of change continues to increase, large, slow-moving linear companies will be unable to keep up with rapidly experimenting, exponential entrepreneurs.
- You either disrupt yourself, or someone else will: 40% of today’s Fortune 500 companies will be gone in ten years. Products and services are being dematerialization and demonetization. The entrepreneurs who win are those who can think exponentially, digitize a service (think Uber and Airbnb), then dematerialize and demonetize the marketplace.
- Reading an exponential roadmap is key to your success. How do you predict when technology is going from deceptive to disruptive? One key is looking for the creation of an ‘interface-moment’ (e.g. Andreessen’s creation of the Mosaic browser for the Internet) which allows entrepreneurs to build new businesses. Today’s 3D printing software is just one example of an interface-moment that will disrupt a trillion dollar industry.
- Tech to change the World: Robotics, infinite computing, synthetic biology, artificial intelligence, 3D printing, networks and sensors are the technologies that will produce the next group of billionaires. These technologies gives each of the the capabilities only available to governments and the largest corporations just 20 years ago. While you don’t need to be a technologist to play this game, you do need to have a Massively Transformative Purpose (MTP) that attracts a talented team.
- Bold Mindset & Moonshots: Both Lockheed Skunkworks and GoogleX show us how to go 10x bigger, rather than 10% bigger. Taking a Moonshot inside of your Massively Transformative Purpose is the fuel you need to go big and bold. Moonshot thinking is100 times more worth it. And it’s rarely 100 times harder.
- The Secrets of Going Big: Super-Credibility and Stone Soup are two terms you probably don’t know, but exponential entrepreneurs depend on both to punch above their weight class. This chapter offers a step-by-step roadmap for starting, building momentum, and attracting the right people to your big idea.
- Billionaire Wisdom: Elon Musk, Richard Branson, Larry Page and Jeff Bezos share eight key strategies that help them think at scale. Passion, experimentation and optimistic thinking are three of the eight. Your mindset matters. Here’s a glimpse of what it takes to play on a global scale.
- Crowdsourcing: With five billion people online by 2020, the most successful entrepreneurs and companies will use the power of the hyper-connected crowd to source their latest ideas, products and solutions. Bold shows you how to pull it off.
- Crowdfunding: By 2020, $100 billion of capital is coming on-line from Crowdfunding. Bold offers a proven and detailed how-to guide to turn the crowd into your personal cash machine for funding your next product or service.
- Building Communities: Communities built Wikipedia and Linux (both valued at tens-of-billions). Communities can design your next products, spread your video to millions, or finance your next company. Bold offers a how-to guide for building your powerful community.
- Incentive Competitions: Incentive Prizes let you tap into the world’s smartest people to help you solve your biggest problem. Best part you don’t pay until after it’s solved. Even better, it works… Bold shows you how.
If you want to learn more about how to leverage exponential technologies, think big, create wealth, and impact the world, pick up a copy of BOLD at boldbook.com.
We live in the most exciting time ever.