This article is written by Brian Malika, a Contributor Author at Startup Istanbul.
For most entrepreneurs, the digital revolution aspect is still a new phenomenon that they have to grasp with. And even though some entrepreneurs have been in the business for a good number of years, they never imagined that digital disruption will be intense as it is today and demanding every enterprise to conform to digitization at least in one aspect.
But even though there is good will to embrace digitization by some entrepreneurs, still there is no clear framework on where to start. Like how do you convert your business that has been running in an analogue form since inception to uptake another phase of digital technology in its operation? This is the puzzle that is out there among many businesses that really want to transform into digital hubs of some sort.
# Step 1: Expand the board to accommodate 50 % of the Board to be tech-savvy or form a partnership with a tech start-up
Well, since your analogue business is struggling to embrace a digital platform, it could imply that the vision of your business was formed without the anticipation of a digital revolution in mind. Therefore, employing a tech-savvy would not bring the desired digital change that your business wants since some executive decisions might be required to influence change across the whole business framework.
Therefore, the best way to handle this situation would be to open up the Board Of Director’s docket for your company to accommodate 50 percent of the members to be tech-savvy or alternatively if your business does not have a platform that works with board of directors , then it would be required that you seek a partnership with a tech-savvy start-up that is in place .
Before you influence a digital change in your business, you will have to work on company’s long term vision to embrace the digital disruption and this will surely need an up to bottom approach (starting from the management downwards ).
#Step 2: Have A One Year Financial Muscle For The Digital Change
During the transition period from an analogue to a digital framework, it’s not guaranteed that your business will make revenue as usual since this is an experiment. And talking of an experiment, it means that you are bound to experience failure or success along the process. In fact, the chances of failure could be high than that of success and as such, you shouldn’t be afraid to fail in this process. If one digital embracing technique fails then be free to move to the next one swiftly. The more you experiment with the digital technologies that fit within your business the higher the chances for making it.
So remember to have a one year plan of finances that will be there to run the business in case the new digital technologies don’t generate revenue as anticipated. Remember it takes time for the customers to get used to change.
#Step 3: Everyone Should be ready to embrace new roles
With the digital embracing within your business at play, operations will be disrupted. Some jobs will have to die while new others will emerge and this requires all the staff in your organization to be prepared for change and embrace it by training on new digital skills will be required.
# Step 4: The Customer Needs Must Be Factored In All The Way
The main reason why businesses are changing towards the digital platform is to make the targeted customers have a better experience than before. And to make life better by solving society’s tough problems through innovative business models. The digital revolution has proven to be a great model towards making the targeted customers experience better in most businesses.
And as such, even while considering to embrace the digital model within your business, it would be core to ensure that every move towards change factors in the tiny aspects that affect the targeted customers.
Team Work Matters Too
And as you prepare to launch the digitization project within your business don’t forget about teamwork. Nothing successful can happen without the entire team at your company agreeing to accept change. So make sure that you brainstorm with your team before endorsing the new digital platform at your company.