When facing a new challenge or business opportunity, master entrepreneurs don't figure out how to solve the problem — they identify who is best suited for the job.
Choosing the right "who" frees you to focus on creative problem-solving, new innovations in or around your business model, and what you do best as an entrepreneur. It is a critical strategy for leveraging yourself at scale.
Historically, a "Who" has always been a member of your team, a consultant, or an outside firm.
But today's key to building an exponential organization no longer necessarily involves hiring people, because today the "what" may be the best option. I'm talking about artificial intelligence software.
There is a large and constantly improving ecosystem of collaborative "Software as a Service (SaaS)" and "AI as a Service (AIaaS)" providers that can deliver what you need — cheaper, faster, and better — enabling you to operate as an exponential organization.
And by outsourcing to an externally hosted SaaS product, your capabilities will continuously improve while becoming more cost-effective, benefiting from the network externalities generated by other users of the same software. (See: SaaS Benefits below.)
Welcome to an era where virtually every business problem has a corresponding AI-powered software solution that costs next to nothing, scales indefinitely, and transforms you from a linear business into an exponential force.
My friend and entrepreneurial author Gino Wickman put it brilliantly: "Systematize the predictable so that you can humanize the exceptional."
Even for highly complex business processes — manufacturing, customer service, HR, recruiting, marketing copywriting — rather than building entire divisions and teams in-house, it is easier than ever to identify an AIaaS or SaaS platform that will deliver a constantly improving YoY strategy, centrally hosted, at no additional cost.
Using a SaaS call center or help desk application, for example, can significantly improve customer loyalty and interactions, thereby increasing revenue.
According to a Zendesk study, for example, 42% of B2C customers purchase more after a positive customer service experience. An even higher percentage (59%) of buyers who experience personalized service find that it has a considerable influence on their purchasing decision.
Putting those numbers to the test, Amazon's "Customize" recommendation engine contributed to a 29% increase in sales.
What is powerful about AI-driven software is that it allows any business owner, regardless of company size, to scale. Now, more than ever, AI can be your collaborator — enabling you to grow indefinitely without adding headcount or overhead costs.
Based on the text by Peter Diamandis "Who, not how"