The Unicorn Mindset: The Importance of Transformational Thinking
The Unicorn Mindset: The Importance of Transformational Thinking
If you work in or started a fast-growing company that believes they can achieve unicorn status, one of the most critical questions that may have crossed your mind is which gambit will lead to the biggest impact in the shortest time? The answer may be surprisingly simple and save you some time, but we all need to be reminded of this every now and then.
Transactional thinking dominates our society where everything seems to have financial connotations. Traditional corporations like to analyze the quantifiable behaviours of customers where the primary focus is on profits, namely all of those transactions that are endlessly arrayed like endless rows in a spreadsheet. How many transactions have they conducted with you on your debit card each month? What about your monthly number of sales? Even, how many website posts have you read throughout the day may come under scrutiny! Sadly, this kind of mindset gets short-sighted very quickly because it overlooks the fact that data alone can never tell the whole story – the true potential of a customer relationship should be able to be measured by its breadth and depth across an organization.
Transformational thinking is one of the most crucial gambits your company can implement in order to break through to the next level. Unicorn startups like Bytedance (TikTok), Stripe, Nubank and more have grown exponentially (billions in net worth) thanks to transformational thinking that was focused on providing exceptional value upfront for their customers instead of simply profiting themselves.
While transformational shifts can be scary for established legacy businesses models, thinking about your approach as a company as such is very useful for everyone to empower themselves. Unicorn startups thrive on transformational ideas that revolve around other people’s needs and how they will affect them positively. Transformational businesses create products and solutions that everyone will benefit from and use regularly, and are given out freely.
Unicorn startups build their growth model not on transactions occurring every time something is used but rather by building upfront value for people who take part in the services offered to the community. This might include banks offering unlimited transactions to all or subscription-based pricing models. Other major unicorn startups like Epic Games valued at over $28 billion offer free full-featured game engine technology, giving developers around the world unique capabilities that enable them to create stunningly realistic visuals with ease. Whether these 3D game engines are used for creating beautiful virtual worlds or spectacular effects, they can revolutionize how games are played and seen!
Becoming a unicorn means colouring outside the lines. Companies don’t need to worry about the cost of providing value – they need to focus on giving customers what they want instead! Value can come in many forms. At the end of the day, unicorn company founders have been great at using transformational thinking and a strong purpose-led approach to inspire their followers, and building healthy, trusting relationships based on mutual upfront value and respect.
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