Companies often think about achieving 10% growth in business, or beating the competition. I don’t think 10% growth is enough. I believe one of the secrets in life and in business is to aim for the moon. People argue is better to be realistic. I disagree, i believe its better to dream the impossible. As a company we try to make exceptional funds available for clients should they want them. We also try to create a company that grows at a tremendous rate, meaning our clients receive service worldwide and people working for deVere have tremendous career opportunities. We look for 50% growth as a company year on year, we don’t always achieve it but we strive for it. Larry Page of google fame, makes our expectations seem tame.
Larry lives by the gospel of 10x. The way Page sees it, a 10 percent improvement means that you’re basically doing the same thing as everybody else. You probably won’t fail spectacularly, but you are guaranteed not to succeed wildly.
That’s why Page expects his employees to create products and services that are 10 times better than the competition. That means he isn’t satisfied with discovering a couple of hidden efficiencies or tweaking code to achieve modest gains. Thousand-percent improvement requires rethinking problems entirely, exploring the edges of what’s technically possible, and having a lot more fun in the process.
Larry Page said recently, I worry that something has gone seriously wrong with the way we run companies. If you read the media coverage of our company, or of the technology industry in general, it’s always about the competition. The stories are written as if they are covering a sporting event. But it’s hard to find actual examples of really amazing things that happened solely due to competition. How exciting is it to come to work if the best you can do is trounce some other company that does roughly the same thing? That’s why most companies decay slowly over time. They tend to do approximately what they did before, with a few minor changes. It’s natural for people to want to work on things that they know aren’t going to fail. But incremental improvement is guaranteed to be obsolete over time. Especially in technology, where you know there’s going to be non-incremental change. We try to produce products that are 10x as good.
Maybe I need to increase my expectations.
Nigel Green deVere Group written February 3rd