Transformation sucks. Transforming can be complicated and expensive. It can be painful and risky. It means radical changes and significant restructures.
Businesses don’t transform because they want to. They transform, because they have failed to evolve and have no other choice. In fact, according to a survey by Capgemini, 27% of senior executives rates digital transformation as now being “a matter of survival” and 51% believes it’s critical to implement it in the next 12 months.
Yet there’s a big difference between transforming to survive and transforming to win.
Ever changing digital landscape
The irony is that once you’ve gone through the lengthy transformation and digitized every process, employee, product, and service … you most probably have to do it again. Digital landscape itself is going through a major transformation, with big data, mobile, Internet of things and cloud technology driving the change.
In such a connected era, being traditionally digital is not enough.
Shifting the focus from “me” to “we”
To gain a real competitive edge, you need to challenge yesterday’s business logic and shift the focus from “me” to “we.”
Partnerships between companies have always existed, of course, but this is the first time when things can be changed in such a huge, global scale. Opening up to others can seem risky, but together we can achieve much more. It’s a chance to shape the entire market. To be disruptive. To create something epic.
The power is in operating as digital ecosystems, not just as individual companies selling services to other companies.
Shape your role in the we-economy
Which role your company plays in this digital ecosystem is up to you. The success depends on how well you co-create value. Think how you could best add value in the hyper connected world of self-driving cars, Internet of Things, cloud technology, big data, and platforms such as AirBnb or Uber. Get excited of the possibilities!
Take initiative and create a global digital network to target complex issues which haven’t been solved in the past. Place yourself at the center of innovation.
Don’t transform, evolve
The world is changing very fast. Companies have to transform because they haven’t been able to adapt to the changing consumer demand, technology and competition.
Here’s the thing – change before you have to. When you are going through the digital transformation, don’t just change the tools. Change your whole mindset. If you stay alert and evolve with the market, you will see an opportunity where others see a threat.
Collaborate with other evolving companies. Focus on your customers, re-evaluate processes, refresh products and embrace the new technology. Create something epic. It’s not the big beating the small. It’s the fastest beating the slow.
Don’t just transform to survive. Transform to win.