5 Ways TripleOne, the World’s First Decentralized Company, Is Going to Change the Future of Business
A great number of companies and small businesses wouldn’t be able to succeed if they hadn’t taken a loan or found an investor who would support their venture. Even though investors can help a business grow with the additional capital, they do come with strings attached.
Investors and stockholders are mostly interested in profit and short-term goals. This may not always align with the company’s long-term plans. Often, investors want to be involved in the decision-making process. Strategic involvement may cause tension as the investor may wish for the business to move forward in ways the owner finds unprofitable.
However, one recently-founded company is changing the future of business and reshaping the traditional organizational structure. TripleOne is the world’s first decentralized company and has no debt or investors.
TripleOne relies solely on a team environment. In TripleOne, every employee is in charge of shaping the company’s future; everyone has the right to share their ideas and vote for or reject the decisions suggested by others.
Founded by James William Awad, an influential Canadian entrepreneur, TripleOne has already attracted top talent from all over the world and will change the future of business. Here is what sets TripleOne apart from all the other companies.
Company Without Debt or Investors
One remarkable strategy makes TripleOne stand out from all the other companies: it doesn’t accept any investments from other institutions or individuals. TripleOne currently owns 19 companies that secure the funds necessary for the company to run successfully. As James William Awad pointed out on his Instagram (@senior), no one is allowed to invest in TripleOne, except himself. All the funds are generated by the company or provided by Awad. In addition, TripleOne doesn’t have any debt to other institutions or individuals.
Debt plays an essential role in the current performance and future growth of any company. A company with no debt will always be able to secure funds for projects and ensure its employees receive their monthly salaries. As a debt-free company, TripleOne is able to continually improve the efficiency of revenue-generating processes, increase working capital, and add more users to the company.
More Efficient Decision-Making
Since there are no investors or shareholders, the decision-making process is fast and straightforward at TripleOne, allowing the company to expand rapidly. Sometimes, investors have different plans and motivations, which can cause difficulties and tension with decision-making. This can significantly slow down the growth of the company and even have a negative impact on the employees, as investors can add financial, mental, and emotional pressure.
Everyone Can Become an Entrepreneur
One of the reasons why so many people are flocking to TripleOne is that the company’s financial independence ensures unlimited growth potential. Each user is allowed to make a suggestion or share their business idea. If the idea is achievable, other users will vote for it. Once there are enough votes, the idea turns into a project, and users apply for jobs that are created as a result.
This organizational structure allows any user to realize their business idea without investing any money. At the start of each month, TripleOne will set aside a percentage of the company’s balance for the completion of the projects. This way, the funds will always be secured upfront, and TripleOne will never have to seek investors.
Users Earn Points Instead of Salary
TripleOne’s financial independence allowed the company to develop a unique salary system. People who join TripleOne are called users and each user is treated as the owner of the company. All users work together to build projects, complete tasks, and ensure the company’s growth and development.
The salary is flexible and based on the amount of work done for that month. Users choose their own working hours; they can work only a few hours a week or every day. Points are rewarded for every vote, suggestion, or completed task. At the end of the month, all points are calculated and translated into money.
More Innovation and Faster Progress
If there are investors, shareholders, or a board of directors in a company, it can take weeks or months for innovative strategies or ideas to get approved. In most cases, this never-ending approval process turns out to be the death of innovation. Since there are no investors at TripleOne, this process is much shorter and allows the business to be more innovative and move faster.
Last but not least, all work for TripleOne is done online. Because of this, the company accepts all users, regardless of their location or time zone. If you’re interested in becoming a TripleOne team member, make sure to sign up at TripleOne’s official website.
The Ultimate Guide to the Essential Social Skills in Business
Effective communication and strong relationships are essential for success in the workplace. One factor that can greatly influence these qualities is emotional intelligence, often abbreviated as EQ. EQ refers to the ability to identify, understand, and manage one’s own emotions, as well as the emotions of others. Research has shown that individuals with high levels of EQ are better equipped to handle stress, communicate effectively, and work collaboratively with others (Chamorro-Premuzic & Sanger, 2016).
Research has consistently shown that emotional intelligence (EQ) is an important predictor of job performance and success in the workplace. EQ is comprised of a set of skills that allow individuals to recognize, understand, and regulate their own emotions, as well as the emotions of others. In addition, individuals with high EQ are better able to communicate effectively, build relationships, and navigate complex social situations. As a result, they are often viewed as effective leaders and collaborators, and are more likely to achieve their personal and professional goals.
In fact, a number of studies have demonstrated the significant impact that EQ has on job performance and success. For example, one study of 85 upper-level managers found that those with higher EQ scores were rated as more effective leaders by their subordinates (Law, Wong, & Song, 2004). Another study of 151 employees found that those with higher EQ were more likely to be promoted within their organization over a five-year period (Carmeli, Brueller, & Dutton, 2009). These findings highlight the importance of EQ in the workplace and suggest that developing these skills can lead to significant benefits for both individuals and organizations.
According to a study conducted by TalentSmart, a leading provider of EQ assessments, EQ is responsible for 58% of success in all job types (Bradberry & Greaves, 2009). In contrast, IQ only accounts for about 4% of success in the workplace. This suggests that EQ is a crucial skill set for individuals in any professional field. Fortunately, EQ is a skill that can be developed and honed over time with practice and awareness.
There are several key components of EQ that are particularly important for success in the workplace. These include:
Self-Regulation: This refers to your capacity to recognize and control your emotions. Sometimes treating them when they arise may be necessary. Understanding how to manage your anger is essential. However, it can also cover how to control the feelings you’ll experience.
Self-Awareness: This implies recognizing and understanding your own feelings. Do noisy places make you nervous? Do other people talking over you make you angry? Knowing these truths about yourself shows that you are working on your self-awareness. Being conscious of yourself is necessary for this phase, which can be more complex than it sounds.
Socialization: This category focuses on your capacity to manage social interactions and direct relationships. It doesn’t entail dominating others but knowing how to work with others to achieve your goals. This could entail presenting your ideas to coworkers, leading a team, or resolving a personal disagreement.
Motivation: Strong motivators include external forces like money, status, or suffering. Internal motivation, however, plays a significant role in Goleman’s concept. By doing so, you demonstrate your ability to control your cause and initiate or continue initiatives of your own volition rather than in response to external demands.
Empathy: It’s equally critical to be sensitive to others’ feelings. This may entail learning to identify different emotional states in individuals — for example, can you tell the difference between someone at ease and someone anxious? — but it also requires comprehension of how other people may react to their current situation. Empathy is one of the essential traits in business and business leadership.
A thought leader in this space, Michael Ventura has built a career advising organizations on the importance of emotional intelligence in the workplace. In his book, Applied Empathy, Ventura highlights the value of empathy in business and provides strategies for developing and applying this skill set. With two decades of experience as a leader, facilitator, and educator, Ventura’s work has made impact in with prestigious institutions such as Princeton University and the United Nations as well as corporate clients such as Google and Nike.
Through his work, Ventura advises leaders to focus on the development of EQ in order to help individuals improve their communication, collaboration, and leadership skills, ultimately leading to greater success in the workplace. Experts like Ventura continue to support the growing body of research on the value of EQ in business, and the evidence that organizations who invest in the EQ of their teams help to create a more empathetic and successful professional environment.
And it’s worth noting that EQ isn’t just important for individual success in the workplace, but also for overall organizational success. A study by the Center for Creative Leadership found that EQ was a better predictor of success than IQ or technical skills in the workplace, and that teams with higher levels of EQ tend to be more effective and productive (Boyatzis, Goleman, & Rhee, 1999). By cultivating a culture of empathy and emotional intelligence, organizations can improve their overall performance and create a more positive work environment for their employees.
In conclusion, emotional intelligence is a crucial component of success in the workplace, and individuals and organizations alike should prioritize the development of these skills. The ones that do not only develop a leading edge in their category, but also become a meaningful place to work for their teams. And in today’s rapidly changing talent landscape, the retention of highly capable, emotionally intelligent leaders is one of the greatest keys to unlocking success.
Boyatzis, R. E., Goleman, D., & Rhee, K. S. (1999). Clustering competence in emotional intelligence: Insights from the emotional competence inventory (ECI). In R. Bar-On & J. D. A. Parker (Eds.), Handbook of emotional intelligence (pp. 343-362). Jossey-Bass.
Bradberry, T., & Greaves, J. (2009). Emotional intelligence 2.0. TalentSmart.
Chamorro-Premuzic, T., & Sanger, M. N. (2016). Does employee happiness matter? Journal of Organizational Effectiveness: People and Performance, 3(2), 168-191.
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