It's about paradigm shifts
How does digital transformation change our thinking?
Survival of the fittest
Let’s look at some examples: Thanks to Netflix and Spotify, we think completely differently about how we consume audio and video. Our view on transportation and accommodation has been completely changed by AirBnB and Uber. But much more is happening.
The launch of the first flying car is planned for 2019, and currently a complete village is being 3D-printed in no time for a fraction of the development costs.
Just because you’ve been doing something for 20 years doesn’t mean that you should keep doing it for another 20.
Markets are moving in a new direction. Consumers are ready for (and in some cases demanding) change, and entrepreneurs who lag behind will face extinction. In order to make your business truly future proof, you need to learn to adapt to the ever changing needs of your audience before it's too late.
Are you next?
Companies shouldn’t see digital transformation as a threat, however, but as an opportunity. How will you know it’s time to take the leap? The observant eye can see change coming from miles away. If you see one of the following developments in your organization and sector, it is high time to put your spider senses on:
1. Changing customer behavior
2. Falling customer loyalty
3. More investors in your industry
4. Greater pressure on profit margins
5. Startups that are succeeding with a different business model
Spoiler alert: Everyone is next
The fact is that sooner or later ALL businesses will have to deal with technological innovation. And in some cases, as we saw with the likes of Netflix, Amazon, and the rest, figuring out a way to leverage that technology into the product or service your business offers will be the difference between success and extinction.
But before you begin digital transformation, it is important to know exactly how it works, where to start, and where your organization is going along the ride.