#223 Exploitation vs Exploration

Author: Dancho Dimkov
Published: Fri 22 Sep 2023
Episode Link: https://podcasters.spotify.com/pod/show/dancho-dimkov/episodes/223-Exploitation-vs-Exploration-e29i5qm

I've been diving into some inspiring TED talks, and I stumbled upon one discussing the two reasons why companies fail and how to avoid them. The theory is intriguing: companies can either be in exploitation mode, focused on monetizing what they have, or in exploration mode, constantly chasing the next big thing. But here's the catch – both extremes are risky. Only 2% of companies strike the right balance. I believe you need two types of people in your company: the entrepreneurial explorer and the operational exploiter. One creates, innovates, and explores new frontiers, while the other optimizes, streamlines, and ensures profitability. Together, they make a winning team. So, where does your company stand? 🤔

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