Build Your Ecosystem With a 30-Doubling Challenge - Interview With Niki Faldemolaei
"This was definitely successful, but it was just the beta. The first time you do something, you don't build an entire automated software. So we started with the basics."
Niki Faldemolaei is an Exponential Entrepreneur working in the ExO Economy to bring community members into the world of tokenomics. She is also CEO of ExO Angels Inc, Founder of EHSI Health, coFounder of PredictMyHealth and agent of MyBodytune. Her MTP is to change the sick care system into a preventive, predictive, extended healthspan system.
How did you get involved with Exponential Organizations?
OpenExO Inc is a Public Benefit Corporation created by Salim Ismail, who was the co-founder and CEO of Singularity University. After teaching people about the mindset of exponential growth and expansion, he wanted an organization that was a bit more walking the talk, training people to actually do it. The intention is that ExO trains people on our platform, so they can go off and use the same platform to build their company. It’s a powerful incubation space so you can be successful in the emerging exponential world.
What sparked the Idea for the 30-Doubling Challenge?
That was a moment of brilliance.
I came in to help grow engagement in the community through the ExO Economy. So engagement was the mantra. We came up with a list of 40 things and I thought, “Okay, what's the best way to get people to adopt this and actually do the behavior.” Because the token itself is actually three years old, but it's been private.
It's a utility token. The community is very functional and transacting with each other anyway, and exchanging value. It was really easy to say, “Hey, let's do an advisor call. I'll send you 200 tokens to spend 30 minutes with you.” And it became the way to honor people's time. In the world of breaking glass ceilings and women in business being underpaid or underrepresented, this felt so much better.
And I'm so attracted to the fact that decentralization means diversity and inclusion. This organization is so international: 42 languages and 132 countries are represented. You will never be on a call with anyone in the same country.
Every single day, you're finding value in being more expansive and worldwide. But nobody's on planes anymore. So we got to be on the computer and have that many more conversations in a day.
How does the Doubling Challenge work?
In the Exponential Organizations training, there is a diagram called the exponential curve that shows the difference between linear and exponential growth. When you talk about linear progress, which is most businesses, it just goes in a straight line. You take 30 steps and you get 30 meters across the room.
That’s the old way. That’s how corporations get stagnant. They get too big, bogged down, with hierarchy, governance, and decision making. So I said, “We’ve got to do something to prove the curve works.”
If you do 30 doublings, that makes that curve go *whoop* (pointing straight up). There’s an inflection point where disruption is going to happen no matter what.
So I asked, “What's a metric that's important to us?”
There were multiple: Let's grow our social media. Let's grow our membership. Let's have more people show up to events. Let's have people staking in the wallet, and downloading the wallet. Once we had this list, I thought, “We can do a 30-day challenge.” At first it was 30 days, each day was a doubling.
And then we did the math and realized you don't get to the knee of the curve until about 24 doublings. I can't engage people's attention for 24 days if they don't see any tokens growing in their balance sheet. And so I recommended 30 doublings at their own pace. People can complete it in a weekend.
What made the Doubling Challenge successful?
There was lots of gamification to make it fun for people. We made a pretty token and multiple avatars. Some of them have thumbs up. Some of them are clapping, smiling, some are even blushing. We've made it a game, because that’s a good way to establish behavior change.
Next, we started doing this leaderboard where people can see the actual progress. So if they've done 10 submissions, they start to see that their name starts to move up in the ranking. Once they see progress, it’s addictive to keep going until you win.
We gave participants 0.002 tokens on day one of the challenge. 30 doublings later, they receive 10,737 tokens! You go through this challenge and after 10 doublings, you don't really see much growth. After 24 doublings is where you have over a hundred tokens total. But then six doublings later, you go from 100 to 10,000 and that's pretty cool.
And when people hit that, they feel like a phenomenal success.
We included 20 activities for people to do to complete a doubling. We made it easy. Some of them you can do repetitively and others you can only do once. We included beginner, intermediate and advanced activities. So whatever your skill level you can complete the challenge.
What would you do differently?
This was definitely successful, but it was just the beta. The first time you do something, you don't build an entire automated software. So we started with the basics. Our data analyst is an absolute genius. She was able to work in an Excel spreadsheet and create the leaderboard along with automated submission questions.
Now we know that not only is the gamification important, but the automation too. So we can offer roles in the marketplace to help us build this out. Now that people are engaged in the marketplace from their participation in the challenge, they are more actively engaged.
What’s next for the Exponential Organizations Economy?
The Exponential Organizations Economy is practicing to become an emerging DAO, a Decentralized Autonomous Organization.
People are seriously starting to consider Decentralized Finance. Bitcoin was wobbly for the first few years. Now all of a sudden with the massive success, people are taking it very seriously.
Even with the correction in the market where Bitcoin came down, you look at the long-term exponential curve and Bitcoin's way up there. And the prediction is it's going to double again, you know, by the end of the year.
It's really important to hang out with people who think forward... futurists, anybody who's actually walking the talk.
And that's part of the reason that engagement became the measurable thing for Exponential Organizations. We've had this economy tokenized for a while, and we had to show people that, yes, this is functional.
It's about coming back and engaging again, maybe hiring someone with your tokens, making another offer, or building another company. You don't need a nine-to-five job with one company anymore.
You have so much freedom and flexibility in this decentralized environment. Allow the new strategy and mindset to work for you. Check out the business plan Kent Langley created in 2016 of the framework we now enjoy. It’s all about building community on the blockchain, using the technology for validation and authentication with smart contracts. He knew the public was going to take a while to get there. He thought it would take 25 years, but it’s happening faster than he thought.
In my experience, I came here to launch my own company. I’m already meeting enough people that I could be on somebody’s advisory board, a consultant for another, and working with a dozen different companies at the same time to help them succeed, and I don’t have to own it all. It’s fluid. It’s a win-win for everybody.
So the lessons learned from the doubling challenge is to start the academy where we teach people how to use tokens in their lifestyle and how to become an emerging DAO.
We walk the talk, become it, and then teach other people how to do it.
Every company in the next 10 years is going to be an exponential organization. Otherwise they won't exist. So this is a way to 10 X everything you're doing. I hope you come play.
Learn and Earn at the Next 30-Doubling Challenge Coming Soon
You have the opportunity to Learn & Earn, Play & Win 10X EXOS Tokens and gain an insider experience of how this all works for your organization.
Join us April 5th 2022 8amPT/11amET/5pmCET for ExO economy Town Hall #13 features NextGen Economy Podcast talent; a panel of young minds changing the world to solve for the 17 UN SDG's. Featured content will be gaming theory, prototypes, incentive strategies and the launch of a new 30-Doubling Challenge!
Featured Entrepreneur Niki Faldemolaei, Co-Founder, Board Advisor, CXO to start-ups and companies who adapt to exponential growth. Are you running a sprint to test traction or validate an innovation? Let's connect. LinkedIn
Host/Content Creator Stacey Murphy is an award-winning social entrepreneur, speaker, architect, engineer, coach, impact investor, and trapeze artist. Her massively transformative purpose (MTP) is to inspire regenerative cities that blend the best of nature and technology. LinkedIn
Collaborators from the OpenExO Community of coaches, consultants, investors, and entrepreneurs whose collective massively transformative purpose is ‘Transforming the World for a Better Future’: Article Editor - Lisa Pereira - LinkedIn | Podcast Editor - Niki Faldemolaei - LinkedIn
Executive Producer: ExO Economy and ExO Angels(™) provide funding for the creation and distribution of the exoskeleton roadshow(™) and NextGen Economy(™) initiatives and is sponsor for the Augmented Human Performance Village.
Disclaimer: The views expressed here are not those of OpenExO Inc., its members, affiliates, or associates. The content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult directly your own appropriate advisors and professionals as to those matters.
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