To grow a number, in math there are addend, or multiplier, or exponent.
Similarly, in businesses, one could grow a company in different ways.
- Adding a location for Walmart is likely a addend – the addition won’t help/affect other locations
- Apple introducing Apple Pay is likely a multiplier – value created for all users and profits per users improved across the board
- Exponential impact is more subtle. I think organization / cultural improvement is likely the case, where better talents are attracted, better outcomes are achieved, and a virtuous cycle is created
Is it possible to replicate this kind of growth for individuals? Or to categorize an individual’s effort into similar buckets?
Here is an example I think of:
- Reading a book to learn a piece of knowledge is like an addend
- Reading a book which has impact over a lifetime / all future decisions is like an multiplier
- Reading a book to form a better map of knowledge is like an exponent, in the sense that future books can be “better” read – you get the point faster, you understand the author better, you connect more dots, etc.
Find the exponent, do the exponential function in life.