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2021: Creating a Lexicon of Future
F is for Flywheel Effect
From Linear to Circular — Using Less Energy to Produce Greater Results
Flywheel — invented by James Watt (inventor of the light bulb) about 200 years ago. A flywheel is simply a wheel or disc on an axis that’s incredibly energy-efficient.
Practically, flywheels are used in power plants, cars, and trains. It has a large rotating wheel that stores the kinetic energy in the form of rotational momentum and smoothens engine operation by compensating the energy in and out at times of need.
Key Benefit: delivering energy at rates beyond the ability of an energy source. This is achieved by collecting energy in a flywheel over time and then releasing it quickly, at rates that exceed the abilities of the energy source. ~ Wikipedia
What is the Flywheel Effect?
Applying the flywheel’s operation to new ideas and solutions, there is an initial cost to seed messaging, but eventually that investment will start to generate more and more adoption. This effect compounds over time, yielding greater returns for less capital spend. When set into motion by entrepreneurs, the “flywheel effect,” a term coined by Jim Collins, can create sustained growth and momentum. ~ What is the Flywheel Effect? Why should I care?
