Subscribe
Share
Share
Embed
There are a lot of opinions out there on how to get started, so as a leader you need to form your own opinions too. How do you do that? Start with business modeling. Have you used business model tools before? Why or why not?
Creators & Guests
What is 2m2x - 2 Minutes 2 Transformation?
2m2x is a series of 2-minute videos on topics that will help you transform your business. Join us weekly to discuss Digital Transformation!!
To accelerate your digital transformation/innovation journey, visit us at informulate.com
Episode: 4 Starting your Digital Transformation Journey
Transcript:
Welcome back to 2m2x, Our 2 minute weekly video series on digital transformation.
So part of the problem with charting a path towards digital transformation is knowing where to start. The other part is, who do you listen to?
For example, Saas says digital transformation consists of people technology and culture. Microsoft has defined its four pillars as engage customers, empower employees, optimize operations and transform products. Mit Sloan talks about transforming the customer experience transforming operational processes and transforming business models.
Now, none of this is wrong per se but it may not be right for you either. Should you start with the customer or employees or processes? Can you have multiple transformations running at the same time? As a leader, you need to cultivate your own opinion so let's make it simple.
You need to start with that aspect of your business that is the biggest risk or opportunity. Easy, right? Well, not really, you'll still run into tech challenges, skill limitations, budget negotiations etc but what you don't want is analysis paralysis. Top leadership must step up with a commitment to transformation, a basic understanding of innovation and a need for speed then assemble a cross-functional team of internal employees, external consultants, and tech experts. Once you're done with that first project, share those successes and failures openly and then be ready with the next few. Speed is essential while learning.
Make sense so far? Great. So what is a starting point for your transformation? In my opinion, if you're going to transform your business you cannot do it without at least a basic understanding of innovation methodology and business modeling tools like value proposition, canvas, and business model canvas makse it much easier to have a conversation around your biggest risk or opportunity.
How do we do that? Catch us next week where we take a closer look at business modeling.