7 Tips for Creating a Transformation Strategy
#1 -- Know where the puck is going.
Danielle Galmore, Steelcase: “Technology moves faster than companies, as a rule. Be cognizant of what is happening and ready to adjust if new technology or new needs arise. Your first project may have to pivot if too much time has elapsed and relevancy is lowered.”
#2 – Think business, not fashion.
Paul Engel, VeBridge: “Not every aspect of digital disruption impacts you or your business. Spend your money strategically -- and surgically. Don’t run after every new bright and shiny object out there just because others are doing so. Be thoughtful. Ask the question, ‘Can I leverage this to my company's advantage, or is this just a new bell or whistle?’”
#3 -- Have a Disruption war chest!
Ian Story, IBM: “If you don't have the financial strength to weather changes in your business, you need to start preparing now, while things are still good -- build that war chest or rainy day fund. What are you going to do when an upstart competitor comes in and steals half of your business overnight?"
#4 -- It's a journey, not a destination.
Chris McLaughlin, EMC: "True digital transformation is about instilling a digital mindset in your organization. A truly digital organization embraces change and recognizes that new technologies, new products and services, and new ways of servicing customers are simply opportunities: opportunities to differentiate, to take market share and to outperform competitors.
#5 – Keep risk in perspective.
Neale Stidolph, Lockheed-Martin: "Chaos cannot be controlled, information wants to be free and people don't do what they are told. These are universal truths! What we can do is explain to everyone that information has issues of sensitivity, risk, regulation and many other factors. We must all be thoughtful in our treatment of information. We cannot police this whole ecosystem but we can make people cautious and mindful about it.
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#6 – One size does not fit all.
Alan Pelz-Sharpe, Digital Clarity: “Just because technology X works well for Ford or GE does not mean it will work for you. Often times simple, stripped back technology will be a better fit for your needs that broad, complex and expensive technology 'suites.’”
Rule #7 -- Per Yoda, "Do or do not, there is no try."
Andrea Chiappe, Systemware: “Remember that in the end, the evolution of ECM isn’t about how we share information now. It’s about brokering that information in the future. We have to reach outside our traditional information spheres, and re-evaluate our existing processes and solutions. Hanging on to an aging, bandaged ECM solution can limit the future success of your business strategies. Sometimes we have to let go of our past experiences and embrace the future if we’re to fulfill our information destinies.”