The following is a guest post by Mark Boone. Mark Boone is a highly skilled writer and editor with an extensive background in copywriting, copyediting, and online content development. He is also a published author and business major. As a freelance writer, Mark has spent countless years providing professional copywriting to companies on a global scale and is a contributor for the PreScouter Journal.
In the world of astronautics, the term “moonshot” refers to going far beyond the earth’s atmosphere in the effort of space exploration. It is literally shooting for the moon by the use of science and technological innovation. Business leaders must also set their aims high and be willing to go far beyond the statuesque of profit margins and shareholders. Applying a moonshot approach into the scope of business will enable a company, big or small, to see far beyond the simplicity of their day-to-day business objectives. It is a wide-scale goal that not only benefits the organization, more importantly it meets the social needs of society as a whole, making the world a much better place.
Companies that seek to achieve groundbreaking achievements through innovation must adopt this approach.
Although this may be a parody of fiction, a clear example of the moonshot approach is in the movie, Hancock. Actor Jason Bateman plays a business innovator who seeks to change the world for the better. He envisions a logo that represents philanthropy, peace, and brotherly-love amongst corporations. The character intends for all major companies to label their organization with this honorary insignia by contributing a certain percentage of their profits to the less fortunate. At the end of the movie, actor Will Smith, playing the superhero, places the logo on the moon for the entire world to see. That is a moonshot, taking vision and innovation far beyond the imagination for the betterment of all mankind.
Larry Page, CEO and cofounder of Google uses “10x” as the moonshot of Google. While most companies only seek to improve by 10 percent, Page pushes his employees to produce products and services that are 10 times better than other products currently on the market. This business leader understands the core of moonshot thinking. He knows that only improving by 10 percent, the company will fall within the ranks of what everyone else is doing. This is a safe and manageable margin, but it is far from groundbreaking.
Page suggests that while the push for conservative improvement will minimize the risk of failure, it will also tremendously decrease the opportunity to become great. He is not satisfied with meager product improvements such as tweaking software codes or slight modifications. His vision is to improve their products by one-thousand percent which means he has to rethink the problems of society entirely. Just as a moonshot astronautically involves space exploration, Larry Page takes his exploration far beyond what is considered technically possible in his field.
Implementing the moonshot approach into the scope of business may seem farfetched for companies that only settle for minimal progression. However, it is alive and kicking in organizations that are actually doing it. Moonshots must consist of several valuable components. These components make all the difference between being an exceptional company and being a world-renowned leader in innovation.
- An effective moonshot must align disciplines of partisan and bipartisan organizational objectives in pursuit of the greater-good of the big-picture goal at hand.
- The moonshot approach innovates beyond it field, bringing value to all of the stakeholders involved and beyond. It positively affects the world around it.
- A moonshot can only be spawned by thinking entirely outside of the box, establishing goals that far exceed only profit, and seriously considering the problems and concerns of those around you.
Only then can an organization reach unparalleled levels of achievement while enhancing the lives of others near and far.