Digital transformation is becoming overused when in actual sense, most people do not know what it is all about. It’s a really broad field utilized in the industry that transforms how we interact with technology. Now, let’s look at the three most essential parts of it from the perspective of an entrepreneur.
It is worthy to note that there is a particular aspect of digital transformation that is often neglected. That aspect is the mindset of the business owners who seek to transform their businesses. As the entrepreneur, the risk bearer of the business, you are advised to pursue that initial mindset you had when starting the business. Do not stop pursuing it until you actualize it!
By looking at the three digital transformation dimensions, you can derive steps to implement in your way of thinking. Combining the three components and also setting a focus on your personal growth will not only support you in growing your business but also becoming a better person along the way.
Three Dimensions of Digital Transformation
The three most important dimensions of digital transformation are:
- Utilizing new technologies
- Value the creation processes
- Adjustment of the enterprise organizational structure.
If you take a close look at these dimensions, you’ll see the actual action plan for these in your business and know how to fix them. By beginning the implementation, you are on the right way of staying on top of your competition.
Utilizing New Technologies
We all know that making use of modern technology goes a long way in making your business processes better, simpler and faster. As a business owner, even if you are just starting a business, you should be able to determine if you are willing to adopt the use of new technologies or simply go for the existing ones. Going for the former can be very risky, and you will need to sharpen your skills to be able to use them. Depending on the industry, you may need to be capable of using them before even considering to use them for your business. Along the way, you will also see the vital part which information technology plays in a company to organize information.
Internal or External Technology
Every business should decide the direction it will take for the development of its processes and products. What I mean by that is the business must choose to either create its technological standards with an intention to lead the market or utilize already existing technologies used by the rest of the industry. There is of no doubt that having your own technological standards and being a market leader has greater advantages but also challenges that come with it.
Establishing and creating new standards can become very risky, especially for established companies. These are usually accompanied by complex technological developments and can take a long time to complete. However, without the risk, there is no possibility of gaining traction over your competition.
Just because you are comfortable with the way of doing things right now it doesn’t mean that it is the best way to do it. A transformation process is continuously going on and evolving in this day and age, so your mindset should always be focused on leading and transforming the way your company operates.
Learn to grow as technology advances day by day. Develop a mindset of reevaluating your way of doing things on a regular basis and keep an eye for the progress you and your company are making. In the same vein, evaluate yourself and discover new ways to do things. Make a list of the things you would like to achieve in your line of business and better understand the challenges you are likely to face while pursuing your dreams. You may also need to devise strategies you will use to tackle such challenges along the way.
Value the Creation Process
The adoption of new technologies goes hand in hand with a change in client value. This also has to do with how digital transformation affects the firm’s value chains. With the difference between analog and new digital activities, businesses face risks due to not having enough experience to run the latest technologies efficiently.
Steady Personal Growth
Learn to go the extra mile in helping others and watch them grow. You usually don’t appreciate the good you are doing to yourself just by doing good for others. By helping them, you are creating a great bond with them which will help you understand how you can help yourself in the process.
There might be opportunities waiting for you which you haven’t thought of before or might seem unconventional at first. By helping others, you will expand not only your horizons (knowledge, experience, mindset, ability to think outside the box, …) but also, for your personal growth. You will learn how to deal with certain unforeseen circumstances and create unique strategies to help you overcome obstacles.
Adjustment of the Enterprise Organizational Structure
The changes in structure can be in the form of adjustments in the organizational setup, especially the positioning of the digital activities in the corporate organizational structures. Concerning this, it is necessary that whatsoever changes required to the organization should be determined earlier; be it the products, skills or even processes. To this effect, if the change that will occur is minimal, you are advised to consider merging the corporate structures and the new operations in advance. On the other hand, f, you or larger changes, it’s advised to create a new and separate unit for that change within the organization.
Strive for Progress
Never be afraid of change and always look at it as an opportunity to grow. Develop a way of thinking that allows you to consider the necessary steps and requirements of the other departments as well. Can there be a more efficient way to collaborate and exchange knowledge? By looking at the bigger picture and not just your personal perspective, you will have the ability to assess whether the structural change is needed and contributes to the required processes and people in the company. A requirement for this ability is the skill to give constructive feedback on everything. Also, it is just as essential to demand valuable input from everyone around you. Only then will you be able to look at things from another perspective.
Conclusions about the above in three short key points.
- Digital transformation is not only a business process. Transformation also needs to take place in your mindset.
- Find a way to continually find ways how you can be of value to others.
- Never forget that change is an opportunity to grow.
What are your experiences with digital transformation within businesses or your own business? And how did it influence you as a person? We are intrigued to know!