Business Transformation Unlocks Breakthrough Value
Every business reaches a point when it’s time for a change. As a leader, you are the one standing at the centre of that crossroad, needing to make a choice. Should you grow bigger? Or take a step sideways? Develop new products or services? Or stay laser-focused on your bestseller? Even for rockstar entrepreneurs, the decisions required for effective Business Transformation (BT) can be fraught with frustrating self-doubt.
Your first step is to pick a problem to solve, but after that, you need a stellar strategy that will carry you forward with flexibility. Will you make mistakes? Yes. But the right Transformation planning can help your small business get back on track after any stumble.
Transforming Customer Experiences
Doing business online has been changing our world for decades and shows no signs of slowing. In fact, the trend towards almost every purchase or transaction at least starting online has forced any serious business to have a web presence. Reputation is everything and it all starts with happy customers.
And the term ‘customer’ can be loosely applied. Consider our client Luna VR. We partnered with a visionary nurse to transform the vaccination experience for children. Using an immersive simulated inoculation, children are able to lessen their fears surrounding an important medical moment. Luna’s experience has reduced vaccination appointment times from 40 minutes to 90 seconds. Now just imagine the word of mouth that will develop around happily vaccinated children and happy nurses who were able to deliver the shot in a much shorter time (almost 30x shorter).
So, no matter what kind of business you operate, you’re probably already planning to take a hard look at Customer Experience (CX) benchmarks.
“In 2020 the number of CX executives will grow by 25 per cent.” — Forrester
In spite of proven results linking customer experience to growth, many businesses have plans to pull away from CX strategies. How does your company treat customers? Will you be working towards changing for the better or focusing on something else?
Think about it this way. Seasoned big-name brands, scrappy startups, and every business in between have one thing in common. Customers. Do your processes reflect that reality?
Business Transformation for Startups
Working for a startup can be addictive, whether you’re the entrepreneur with the letters C-E-O on your door, or the intern watching closely, getting ideas about what your future career will look like.
Startups are exciting because you’re still figuring out who your customers are and how to share your work with more people. Yet, a new company is a place equally energized by potential and threatened by vulnerability.
Every quarter sees opportunities for growth or reduction. Change is going to happen; the ground is going to shift. You need to be proactive and get ahead of that change with a Business Transformation strategy that not only anticipates disruption, but embraces it, diving in headfirst.
“The definition of insanity is doing the same thing over and over again and expecting different results.” — Unknown
Transformation is still scary though, no matter how well you prepare. You know that making changes can result in the fast track to either success or shut doors.
One day, between furious storms of growth, you’ll be looking back on your early days fondly. On that day, you’ll know you’re not a startup any longer, but that the best is yet to come.
Transformation Strategies That Work
If you’re considering new products, new people, new space … anything new at all … you’re looking at change. With that comes new processes and ways of doing business. We can’t tell you what will facilitate that change without knowing your specific needs. But we can tell you that the process of change must be designed with as much attention to culture as your products or services themselves.
You may be an expert designer of your widget, but are you an expert process crafter? If you’ve taken stabs at change in the past and found your attempts leading to brick walls, the repercussions are multifaceted.
Business Transformation strategies that fail not only threaten an organization’s cash flow, but team members suffer burnout as well. Employees who implement change after change, only to achieve limited positive results become disillusioned.
According to Gallup, 23 percent of employees surveyed said they were frequently burned out, while an additional 44 percent reported sometimes being burned out. That’s a lot of worn-down workers! These are the very team members you are relying on to enthusiastically participate in process changes.
How will you confidently implement your next transformation if you’re concurrently worried about how many employees will roll their eyes? Or worse still, polish their resumes?
Evolve Smarter in the New Decade
Whether you undertake new R&D or overhaul your customer service, you’ll need to tackle change differently than you have in the past. Your new solutions will likely involve technology. With a clear return on your investment.
So, when it’s time for a Business Transformation strategy, we fully understand what’s at stake. We know you can’t wait one more quarter to figure out how to be more profitable. We understand you need your team members to be onboard with any and all new equipment, software, philosophies, and procedures. The path you choose must be both effective in boosting your business and effective in bolstering a positive culture for your team.
We are working in an age where ‘branding’ is a dirty word. Authenticity matters. Businesses must earn trust. All without selling or asking for anything. How do you pull this off without coming across as manipulative or corporate? It’s a challenge most of us need help to rise to; enter the ubiquitous consultant.
But you don’t want to just hire another consultant; the prospect of commissioning one more report makes your head hurt. And we don’t think you should get another fly-by-night consultation either. Today’s businesses need more than just a second opinion. Business Transformation in 2020 and beyond requires a technology partner — one that can help implement their own concrete suggestions.
Business Transformation Expertise
Sure, you need a fresh, honest, informed set of eyes on your problems. It’s time to bring in someone who will tell you hard truths, but you also need someone who will roll up their proverbial sleeves and walk the path of change with you.
At Stambol, we have a hand-picked team who all bring different areas of knowledge and experience to our collective table. We have developers and artists. We have seasoned business leaders. But most importantly, as a whole, our team knows how to blend these differences harmoniously — to benefit you, our clients.
Ask Stambol to dig in and take a hard look at how your business can and should move forward. We can be there every step of the way, making your success our priority.
Feature Image Credit: Aliaksandr Marko / Adobe Stock
Originally published at https://www.stambol.com on February 10, 2020.