The emergence of Exponential Organization is still a new concept for many industry players. Today, startup and small business owners are looking at ExOs for inspiration, process improvement, and tech revolution.
Exponential Organizations are changing how firms perform day-to-day tasks, acquire clients, manage customers, and compete with each other. They have highly intricate and tech-backed business practices that allow them to become better and bigger daily. According to Forbes, an ExO grows 10x faster than comparable companies. And there’s a strong reason behind their unprecedented success: digital automation.
Now you must be thinking about the business practices that can transform a regular organization into an ExO. So Vates is here with a complete guide to how ExOs are transforming business strategies and why you should leverage them.
Vates is a renowned and reliable IT company, now offering a complete ExO Launchpad solution for aspiring business owners. Our team can lay out the foundation for your startup’s exponential growth. We have vast industry experience comprising more than 50 clients who’ve successfully taken the ExO track with our assistance.
Continue reading this blog to learn how ExOs do things differently and why they’re extremely result-driven and successful!
A Wider Perspective on Exponential Organizations
Companies like Apple and Amazon fit right into the examples of Exponential Organization. These organizations defeated and ignored the limits of slow growth. They didn’t take conventional and linear success and looked at the bigger picture.
Using technologies like big data, the Internet of Things, algorithms, and software applications, ExOs develop an invincible, long-lasting, and profit-savvy business strategy. An ExO doesn’t have to be a large firm with hundreds of employees. On the contrary, your startup can pass the ExO eligibility test with the right tools and a mammoth industry impact.
Some of the key principles that ExOs abide by include:
- Continuous experimentation to unlock new, untapped opportunities and gain a pioneering position in the industry
- Conducting tests and rigorous trials to become bigger, better, and more autonomous in decision-making and self-regulation
- Hunting and acquiring the best talent and bootstrapping by letting them shine without control practices
- Eliminating conventional management practices and completely eradicating micro-management instances
- Milking the tech stack and available digital tools to fast-track automation, responsiveness, and project timelines for complete client-customer satisfaction
Advanced and Revolutionized ExO Business Practices You Must Know About
Let’s brush our knowledge about how ExOs are transforming mediocre business practices into growth-hacking activities:
1. Digital Media to Social Tech
It’s a no-brainer that a strong social media strategy is a core component of modern businesses’ marketing plans. But ExOs do it differently. They’re less about advertising their products and services and more about enhancing customer experience.
For example, Apple makes one or two ads per product per annum, but that’s enough for them to get customers queued outside Apple stores for hours, right? That’s the kind of impact ExOs believe in. They’re offering customers more than a product or service.
Vates offers a complete and high-quality ExO Launchpad mentoring service. We can propose methodologies that actually work coupled with lean startup concept applications. Our organization has been associated with startups like Tracestory, Seedmatriz, Wilab, and AgroHub, among many others.
2. Internal Process to External Networking and Collaborations
This is where we want to highlight the “Network Effects.” ExOs achieve growth and market share not by focusing on internal communication but on external partnerships. Tapping into the external business environment automatically impacts a firm’s internal processes. But this Is something startup owners fear practicing. Vates focuses on equipping small, medium, and established businesses with the tools and techniques to prevent IT project failures. Our IT consultancy and software development team knows everything that can go wrong in an IT strategy.
Businesses have continued to invest in sourcing, acquiring, and retaining physical assets and human resources. While it’s a big part of running a company, ExO managers need to go one step ahead. They’re focused on creating a shared value proposition that benefits all the major stakeholders, including employees, customers, and partners.
ExOs rely more on building intangible, human relationships instead of piling physical assets as a contingency measure and equity. In short, Exponential Organizations run on a network-based module and excel at customer retention, employee satisfaction, and resource allocation.
Some of the most amazing examples that fall right into ExOs with unimaginable impact include our daily-use social media platforms like Pinterest and Instagram. These companies used networks as a matchmaker between customers and the brand. They created a lifting and lively value lifecycle while creating a non-bumpy path to exponential success!
You can talk to us about IoT, IT, and blockchain services or can also avail our IT staff augmentation services to take your firm to the next level. So let’s learn about the most amazing and noteworthy exponential technologies available today.
3. Cost-Savings to Cost-Effectiveness
Business managers are always talking about minimizing costs and maximizing profits. Yes, a company cannot grow without implementing these two concepts. But there’s more.
To transform your startup into an ExO, you need to focus on cost-effectiveness instead of cost minimization. Put simply, cost-effectiveness is about eliminating the tradeoff between value and cost. Whereas the latter only focuses on minimizing the cost with no attention to value.
So what does an Exponential organization do to maximize cost efficiency?
They invest in disruptive technologies. They sound quite expensive initially, but a strong tech stack automates processes and brings immaculate improvement to a business model. Vates can help you acquire the key attributes of an ExO by implementing the right mix of strategies. We can help you produce excellent MVPs driven by leveraged assets, staff-on-demand, IT tools, modern interfaces, and responsive technologies.
Our ExO Launchpad can empower your startup with the MTP concept that maximizes a Purpose with Massive Transformation! Vates has an agile, competent, and highly expert software development and system integration team that can transform your startup into an ExO. Hiring us could be one of the best decisions you’d ever make as a business owner!
Here are some of the key technologies EXO heavily rely on:
- 3D printing
- Custom software development
- Machine Learning
- Artificial Intelligence
- Big Data Analytics
- Remote working practices
At Vates, we can help you in converting your startup into a DDO.
Short for Deliberately Developmental Organization, a DDO adopts people-building strategies and maximizes cost-effectiveness with the latest tools and techniques. Clutch UK revealed that 100% of clients are willing to refer new businesses to Vates. Our strong market standing and custom-centeredness have resulted in a 4.9/5.0 rating on the review platform.
4. Reliance on Growth Laws
Exponential Organizations rely on exponential technologies and business practices. According to the experts, they follow three laws to drive success:
Moore’s Law of Growth
This law can be applied to rapid action technologies like Robotics and 3D image rendering. It states that success doubles exponentially once it reaches the pinnacle or the climax.
The 6 Ds of Technology Adoption
Backed by numerous examples, the 6 Ds of Technology are extremely important to Exponential Organizations.
From digitization, deception, and disruption to demonetization, dematerialization, and democratization, a startup needs to fall into each step before it becomes an ExO.
The Fast-Tracking Convergence Law
This law states that coupling two or more types of technologies increases their impact and multiplies a firm’s strength to fast-track growth.
How Can Vates Help You?
At Vates, we believe in offering the most advanced IT services and ExO Launchpad tools for rapid business transformation. Our IT support, maintenance, consulting, strategy planning, and digital transformation teams can help you take your business to the next level. You can rest assured that your company’s IT department will thrive and grow by the day with the help of our expert IT consultants and software developer.
Vates is highly credible and steadfast when it comes to offering the most reliable and industry-leading custom software development, software QA and QT, and more. Our company is listed as the Best IoT company on The Manifest and Clutch.
We can revise and integrate all the different aspects of your business’s IT structure, diversify internal operations, and improve system functionality.