Not kidding, my mom asked me recently what exactly my job is and why everyone is so ultra busy with this "digital transformation"thing. I started to answer that this is a journey for companies. She just conquered with "A journey to digital? Why should digital be a destination?"

What should I say - mom seems to be right :)

So here are my 3 hypothesis why a combination of digital and transformation is not more as a nice hashtag on your LinkedIn profile:

1) Digital is not a destination

When you think about the ultimate objective of all these digitalization activities, can a "digital company" really be a target? What is a digital organization? Hard to answer, hm? So why do we use that word so excessive, if we do so hard to define it?

At the very end, it is about to (re-)gain the ability to adapt your business model in a world that demands a higher frequency and intensity to change.

One of the most relevant buzzword that appear in the context is "agilization". And yes, it makes sense. It doesn't matter, if you want to integrate new features, partner a startup or incubate a new business model. The only thing that counts is your ability to react on market demands the same pace than the Goolges, Amazons, Airbnbs et al would do. I will treat the IT aspect of "agilization" in another post.

2)"Transformation" methods and tools are there to help you - don't let them master you Sure all of you read Ries's "The Lean Startup", Osterwalder's "Business Model Canvas", Eyal's "Hooked" or any Design Thinking Book. Sure all of you have spent hours and hours in design sprint or innovation workshops. Have you ever asked yourself how these nice methods will really help you on your change journey? If yes, then it is a perfect time to just stop it. It can be overwhelmingly compelling to start testing new things while forgetting the "why". Never forget the ultimate goal to improve your ability to adapt changes quickly. Everything that hinders you to be fast on a purpose is a waste of time.

3) There is no wrong or right way of transformation. It is do or do not.

The most popular question I've been asked a million times is "What is the best way to transform?" But surprise, there is no answer on it. Don't waste your time worrying about digital vehicles, teams, accelerators or any other hyped organization. Just start and you will soon see what you need.

If you are just at the beginning think about these 4 elements to get it started:

1. Analyze and understand innovation and technology. Spend time on getting a deep understanding of innovation and technology trends by doing research, prototypes or pilots. Just get a feeling of the possibilities that are currently out there. Learn to deal with artificial intelligence, digital twins, chatbots, immersive experience or any other trend out there - no fear it is easy, if you just start.

2. Engage with different ecosystems and learn from others It is always a good idea to somehow engage with the startup ecosystem. On the one hand, because they work on the latest shit. But on the other hand (and that is even more worth) most of them are also searching for something they don't have or know - just like yourself. So just jump in and be prepared to face questions and different angles on topics in order to widen your horizon. Even better, engage with other players or even competitors how they are facing their future. Learn how the smartest players have solved some challenges even if they are in a different industry than you are. Try to understand the reasons for their success.

3. Start doing something business-model-relevant No matter if you build it your own, partner or invest. Do something that has an impact on your business model and learn how to handle it.

4. Ramp up and manage your digital portfolio Might sound like a corporate administration task but will give a you a massive competitive advantage. By gaining full transparency on your activities you set the base to successfully transform an activity into an own or a part of a business model. It is mandatory to set qualitative and quantitative KPIs on every portfolio component, to simple answer the question what makes the portfolio element a success. Just imagine you already discovered an innovation or technology years before and just take it out of your drawer as the product-market fit is now there.

#digital #digitaltransformation #agile #designthinking #digitaljourney #businessmodelinnovation