Running a business requires organization, analytical thinking, and detailed record-keeping. It is also essential to be innovative to make the company stand out from the competition. Recently, James William Awad came up with a unique business idea that has never been tried out before.
Awad is a well-known Canadian entrepreneur and the founder of TripleOne, the world’s first fully decentralized company. Not only is TripleOne based on an innovative organizational structure, but the company was also founded without the help of investors. Prior to starting TripleOne, Awad carefully weighed the pros and cons of taking outside money. He concluded that the future of his company should lie solely in his hands and the hands of his employees.
TripleOne is the world’s first decentralized company with zero debt and no investors. All the funds are generated by TripleOne through successfully completed projects or secured by Awad himself. Also, TripleOne currently owns 19 companies that are fully operational and are constantly growing. The decentralized business structure ensures financial independence and virtually unlimited earning potential for the company and its users.
TripleOne is a one-of-a-kind company that will undoubtedly change the future of doing business. Decentralization is a relatively new and untested organizational structure. However, decentralization comes with plenty of advantages, and TripleOne is excellent proof of that.
Greater Autonomy Empowers Employees
TripleOne’s financial independence ensures autonomy for users, and autonomy at work empowers users as it provides them with a sense of importance and encourages them to get the work done more efficiently. More autonomy also entices users to use their knowledge better or even implement some of their unique ideas.
There are no investors or a board of directors at TripleOne. Instead, there are users, and each user is considered as the owner of the company. TripleOne offers the ultimate freedom and flexibility. Earning possibilities are practically limitless and depend solely on how much work a user is willing to put in. TripleOne’s decentralized business structure is based on accumulating points. The more tasks users complete and votes they cast, the more points they earn. The unlimited earning potential motivates the users to complete all projects to a high standard.
Incredibly Efficient Decision-Making
Sometimes, a fast reaction can make the difference between gaining a new project or opportunity and losing it. The decentralized structure enables TripleOne to quickly adapt to the constantly changing market, as there is no need to wait for approval from the top management.
A company without debt or investors has the freedom to quickly change direction as needed. At TripleOne, all decisions are made by users. There are no superiors who have to be convinced that a certain idea is a good one. Instead, users make suggestions and decide what is “good” or “bad” for the company by voting.
All users get a certain number of “Normal” votes at the start of the month. Users can also earn “Special” votes after voting for suggestions that turn out to contribute to the growth and development of the company. Both Normal Votes and Special Votes have the same “power.” The only difference is that Special Votes do not expire at the end of the month.
Ease of Expansion
The future of TripleOne lies in the hands of its users, not outsiders. Since the company accepts users from all over the world, it is open to various exciting projects from different locations each month. Each user is allowed to suggest their own ideas for projects, and each accepted project creates new jobs and tasks for users to work on. Unlike in traditional companies, there is no need to wait for approval from the top management, investors, or shareholders.
Sometimes, investors’ motivations might clash with those of the company owners. TripleOne users never have to worry about any conflicts or tension related to decision-making. They are the ones in charge of running the company, and their votes for or against certain suggestions are what determines the future of the company.
TripleOne has not been around for too long, but the company is already eliminating the boundaries set by centralized businesses. The innovative decentralized structure implemented at TripleOne clearly illustrates a new, better way of running a business and it will undoubtedly result in more successful outcomes.