4 Ways You Can Royally Screw Up Going to Scale
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70% of digital and business transformation projects fail. Here's what you need to make yours a success.
Building a robust and resilient business that can ride the tides of change and come out on top is more important now than ever. Whether you want more profits from existing sales, increased revenue, or operational efficiency - it’s time to think about Digital Transformation as a necessary step on your way to scale.
As an entrepreneur, your ability to embrace Digital Transformation will very likely be the difference that defines whether your company sticks around in the future. First, let’s get clear on our terminology.
What is digital transformation?
Lead consulting firm Accenture defines it as, "Digital transformation is the process by which companies embed technologies across their businesses to drive fundamental change."
Yet research by McKinsey and the Boston Consulting Group shows that up to 70% of all business transformation projects fail, digital transformations among them.
Was it the ill-equipped tech team? Over-priced consultants? Or maybe the project just wasn't planned well enough?
Truthfully, the root causes of business transformation failure aren't simple. The list is extensive and highly contextual.
Fortunately, ongoing research leaves us some clues. Combined with insights gathered from over 20 years combined direct experience between Jamie Jenkins Consulting LLC and Black Badger Enterprises, there are some very clear patterns.
In our experience, digital transformation projects which fail to hit the mark all boil down to one huge mistake: Implementing shiny new tech in wobbly organizations.
The businesses - processes, systems & people - aren't change-ready. Not yet.
The waves that these wobbles cause come from four types of mistakes.
Leadership mistakes.
Management mistakes.
Operations mistakes.
People mistakes.
Let's look at each one a bit more in-depth.
Leadership Mistakes happen if you . . .
Have fuzzy business goals
Lack certainty about your requirements
You are already married to specific software solutions
Lead with tech and not your business, clients and people
Have unrealistic or rigid expectations
Make untimely executive decisions
Give precedence to the status-quo over innovation
Neglect putting customers' perspectives first
Prioritize short-term at the cost of long-term
Management Mistakes happen if you . . .
Take a more task-centered than people-centered approach
Rush projects without adequate testing & iteration
Exclude critical players' participation and discussion in the process
Don't think about how to keep the project going
Forget to track and monitor progress
Operational Mistakes happen if you . . .
Have a muddled understanding of your workflows
Turn a blind eye to inefficiencies
Ignore the interdependencies of processes (systems)
Omit planning for quality management, governance, and change-control
People Mistakes happen if you . . .
Don't have a business culture that supports innovation, risk-taking, learning, and continuous improvement
Overlook training or change management with the team for user adoption
Have disinterested Managers who don’t set a good example
Ignore software support plans to ensure continued success
Fall head first into any one of these four types of mistakes, and you can royally screw up your chances of successfully going to scale through digital transformation.
You need to get change-ready first to improve your odds of success.
Take an honest look at where you stand and create an action plan to make giant leaps forward in leadership, capacity, and culture so you can make it happen.
Now it's your turn.
How important is digital transformation to the future success & sustainability of your business?
What are the top three actions you could take this quarter to put you on the path to successful digital transformation?
Which area would you focus on first: Leadership, Management, Operations, or People?
Which do you currently consider strengths? And which are weaknesses?
Are you Taking Your Business to the Next Level? You may enjoy this resource:
The article is part of an original content series jointly authored by Jamie Jenkins ♾️, Business Growth & Operations Strategist at Jamie Jenkins Consulting LLC, and David Verneuille, CEO of BlackBadger Enterprises and is not authorized for reproduction or reuse online or elsewhere without explicit consent by the authors.
