In the past hundred years, the world has witnessed the advancement of humanity with the help of technology. New machines, tools, and gadgets have disrupted industries in ways that, not long ago, were just concepts in science fiction.People are now able to make video calls and pay for goods by just tapping a smartphone. A digital object can be turned into a physical one with the help of a 3D printer. Also, there’s sliced bread. All of these, along with countless other products and services, were made to get things done faster and easier.
But exactly how did these creations transform from a futuristic dream into an innovative reality? The answer is simple: moonshot thinking.
One Giant Leap
The term “moonshot” was coined after President John F. Kennedyrelayed his idea of sending the first humansto the moon and bringing them back home. To top it off, he said it had to be achieved “before this decade is out.” This was in 1961. Given the limited timeframe and the inadequate existing technology, the goal seemed out of this world, in both the figurative and literal sense.
But 8 years later, Apollo 11 successfully carried 3 astronauts to and from the moon. Thismission is considered the first moonshot, a term that describes a difficult or expensive feat that has a greatly significant outcome.
In the entrepreneur community, moonshots are all about thinking on a much grander scale. Instead of increasing or improving something by 10%, you amplify it by 10. Forget about the risks and doubts that come with following a goal that’s too ambitious or crazy because the resultis something that’s radical yet effective.
It’s a tenet that’s tackled in business classes.In designing a product or service, try focusing on a seemingly unsolvableproblem, or challenge tradition. This will help you come up with a breakthrough or a solution that people need and want.
At present, this mentality has served as the driver to new frontiers. An example often discussed in entrepreneur courses is the launching ofstreaming platforms, such asNetflix and Hulu. Through these services, individuals can watch movies and series on-demand, a feat that made it highly sought after by the public. This enhanced the traditional film and viewing experience.
Another modern moonshot is the development of online payment systems. Through this method, transactions and transfers can be done electronically, cutting down processing times and paper waste.
Those are just a few of the many examples of what a changed mindset can do. Take that one small step toward a giant leap for the entrepreneur community with moonshot thinking.