Platforms 4 Future
The importance of 10x-thinking for platform business development
In our latest discussion together with Markus Schorn, co-author of “10x DNA — Das Mindset der Zukunft” we talked about the 10x-thinking as a founding principle of developing platform business models. He gave us lots of insights about how to keep innovating and handle upcoming disruptions to stay competitive.
Markus Schorn is a member of the Deutsche Telekom Think Tank with focus on emerging technologies, innovations and business models. Within this role, he asked himself how technologies will impact our future lives and society. His book “10x DNA — Das Mindset der Zukunft”, which he co-wrote with star investor Frank Thelen, also revolves around this topic. It’s focusing on the acceleration of the technological process and the upcoming changes but also is used as kind of a “wake-up call” to make sure that we keep up with all the possibilities and novelties which come along with new technologies.
10x-Thinking as a founding principle of platform business models
The term 10x originally goes back to the Apollo Program and the first moonshot. To realize this project the engineers required the rockets to be 10x better and with this request a lot of groundbreaking innovations came up. Up to now the term has also evolved as an important guideline for business development. All of the four big platforms used this 10x-thinking to get where they are today plus digitization as a central enabler for this.
With 10x and digitization, however, came lots of challenges and changes but it can also “broaden your view on what you can achieve, on what you can innovate on” and reinvent existing solutions in a completely different way. Therefore, corporates have to trust in the exponential progress of technologies to embark on their full potential. Especially for the software industry. Markus points out that: “this is the thing that you have to keep in mind as an executive, operating in this digital space, your products will never be finished. Everything is beta.”
Companies shouldn’t focus only on the product side but also on how to do business in general. This includes also integrating employees into that 10x-thinking through different forms of engagement and learning. Furthermore companies should have an eye on a growing field of competition which is more dynamic and comes from everywhere. But according to Markus with this dynamic era also a lot of opportunities and solutions come up from multiple sides that could be realized via co-creation and co-innovation. According to this Markus makes clear:
“Watch out and have open eyes and ears where new opportunities can come from through this 10x or exponential era.”
Do you want to learn more about how to unlock the potentials of 10x-thinking and its role for the future sustainability of our world? Check out the whole article or listen to our Platforms 4 Future podcast episode via your favorite streaming platform.
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