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Exponential growth occurs all around us — in life, in physics, and even in our credit card debt. However, the timescale and magnitude of such enormous change go beyond our intuition. So rather than relying on intuition, we use mathematics to grasp the power of exponential growth.
We’ll use basic math to highlight three key takeaways for exponential growth and what it can do for you:
- Exponential growth is amazing.
- Acquire a critical mass of users before focusing on exponential growth.
- The higher your retention rate, the easier it is to have exponential growth.
What’s the big deal about exponential growth?
Before we explain how exponential growth happens, it’s worth taking a few moments to highlight why exponential growth is amazing.
- If you invested $1 and doubled your investments each day, you would have 1 billion dollars after a month.
- Covid-19 started with a single infected individual. If each person with Covid-19 infected 2 other people, it’d take only 26 transmission cycles to reach the current infection total of 109M.
- Facebook was launched in Feb 2004 and two months later it had 70k monthly users. If it continued to grow at the same rate, it would have taken over…