Does it Still Work?
Many businesses succeeded by doing what worked and fine tuning that formula to stay ahead of the curve. This formula has become long standing and ensured success, creating an "in-house style" or "way or working" that shuns every other model. But what happens when the winning formula doesn't work as well anymore? Or just doesn't work anymore?
Many organisations have gotten to this point and find it difficult to pivot in order to keep ahead of that curve they once were. Some try to tweak the former model in the hopes that things will improve; but it is rarely enough to get the company back on a long term, sustainable path.
The answer then becomes apparent in the need to change modus operandi, design a new method and adapt in order to get things working again. A real need for a transformative approach that will regenerate the organisation and return its viability.
If you have thought about change at all, then you have begun the journey towards success again. Adapting may take some time but it is not the destination so much as it is the journey that situates you for the next big thing.
Do You Know The Consumer of Today?
Today's consumer is peculiar. They are digital, global, informed and trendy. They want products and services that push the boundaries of your brand promise. They want service delivery that is unparalleled and want the same feat repeated the next day.
If there's been an "Act of God", they want to know what your opinion on the matter is, if you have one, and if you don't have one, they wonder why you don't have one. They want to associate with symbols and identities that reflect their aspirational views for a better tomorrow.
They are involved in social issues and want to feel like they're consuming products or services from a company whose brand also has a stand on social issues.
Their loyalty can be fickle but once you get it, it's yours for keeps.
How do You Measure Up?
So let's look at some of the parameters that measure your readiness to transform your business and ensure it stays ahead of this curve, for a long time to come.
- How bold is your business vision?
A business vision may be grand or simple but it must be tenable. When you think of the future of your business, the vivid mental images you envision must be clear and focused with a representation of the essence or core of what your business is about. Your vision should contain an element of inspiration as it lays the groundwork for your employees to work out the fine prints towards achievement.
2. Are you Open to New Ideas?
Are you stuck on the old ways or can you reinvent yourself? Keeping an open mind involves positioning your business to appeal to the times while maintaining your essence. If you are a products company, have you considered offering delivery services, receiving payments via mobile transfers or setting up a virtual shop? New ideas can be as simple as developing a communications policy to customers or adopting digital footprints for better reach.
3. How ready are you to adopt a digital process?
Have you considered that your everyday business operations can be streamlined by making a simple shift towards digitizing the process? It may involve holding quick virtual check-ins on WhatsApp with your team instead of having long physical meetings that would require hours of commute. How about automating processes such as invoicing or taking bookings through a scheduling tool widget like simplybook.me
4. What would your new digital technologies comprise?
In the long line up of digital technologies that aid CRM, marketing automation, Enterprise Resource planning, Accounting, Payroll amongst others, which of these would your organization be readily able to adopt? Remember that acquiring technology is one thing, equipping employees with the skills required to fully utilise them, is another.
5. How cloud savvy is your organisation?
Have you ever had a meeting in one part of town and as the meeting progressed, realised that additional information was required and you wished you could access it where it lay, on your desk, in another part of town? If this sounds more than familiar to you perhaps it's time to explore cloud services - storing data in a virtual storage system that can be accessible anytime, anywhere.
Before thinking digital transformation, determining your digital quotient and readiness to transition your processes will reverse the tides in your favor for the big wins of the future.