Digital Transformation will not only force you to do different things, but also to do things differently. A couple of new business mantras need to be introduced and should become part of everyone’s thinking. Anything you do, anything you develop, anything you roll-out toward the market, it should always be driven from a new set of basic rules that determine your view on the world from now on:
Before the age of digital, change happened much slower. Business models and strategies mainly changed when new generations took over. Today’s situation is way more challenging. The rise of the Internet creates more competition, not just from large players, but often from small ‘digital in the core’ startups who are entering the market very rapidly. Digital enables highly scalable models that can potentially disrupt entire industries.
The time is now…
Digital and online services are evolving at an unseen speed. After 20 years of online activity, digital technologies have fundamentally changed the way we live, work and play. And this is merely the beginning. We cannot imagine what’s coming at us in the next few decades. Exciting, but all of these evolutions have a huge impact on our lives. And ultimately on the way we do business. Digital is disruptive.
Unfortunately several industries and companies didn’t anticipate the digital transformation and “lost the game” along the way. Think about the music industry, the classifieds business, print-photography (Kodak),…And the next wave is happening in front of our eyes. Industries that are currently transforming at high speed include media, retail, healthcare, pharma, finance, recruitment, communication,…But most companies lack a solid plan of ‘defense’ to cope with the digital transformation. And we’re running out of time. Big tech players like Google, Amazon and Apple are dictating their own universal rules and new challengers like Uber, Nest (acquired by Google), Tesla, AirBnB and others are disrupting one industry after the other.