In a world where everything is digital, using it to your advantage can come with great benefits, but not all prosper those benefits. The key reason company’s fail at digital transformations is because they do not undertake a focused discipline approach. Author of “Why Digital Transformations Fail”, Tony Saldanha joins us on the Critical Mass Radio Show to discuss a step-by-step discipline approach that is sure to make transitioning easier.
1.Define and understand digital transformation. As stated in the interview, there is so much hype around digital transformation that the true definition and understanding of what it means to be digitally transformed is not clear. CEOs, executives, business owners, entrepreneurs, and even the employees of a company need to understand that the true meaning of digital transformation according to Tony Saldanha is “the rewiring of your company to be successful”, this means in terms of pertaining to your business, your business model, internal operations, and the introduction of “smart” products into your business. By having/ introducing one or more of these components into your daily operations will guarantee the success of your company.
2. The digital transformation of a company must reside with the CEO. Digital transformation is a business strategy. Therefore, it must not only reside with the IT department and be made a situation for that team to make sense of. It must be a strategy that is set forth by the CEO and the CEO must maintain ownership of the decision to make a company become digitally transformed. The IT department is there to make sure the execution of the strategy is set forth in the right direction, but does not solely rest in their hands. In order to maintain success the CEO and executives must inherently take ownership of the new business model and see that all steps necessary are taken effectively and efficiently.
3. Make it an expectation to digitally enhance your company regularly. As business models continue to progress and succeed people get, in a sense antsy, about what the next enhancement will be and when it will be launched. For example, Netflix and Hulu are the digitally enhanced versions of Blockbuster. From there we got fast forwarding through commercials, and then the ability to live stream at any time of the day and on any device. As you can see as technology progressed the expectation for digital enhancement also progressed on both the consumer side and the business side. In order to maintain success and keep consumers interested digital enhancement is a necessity.
Listen to our full interview with Tony Saldanha on the Critical Mass Radio Show here: