Albeit the good news of the forthcoming vaccine, companies are under tremendous pressure to transform themselves digitally. The global pandemic is a wake-up call to all companies. Companies need to react quickly to leverage exponential technologies to transform themselves.
How can companies accelerate the process? What would be the typical timeframe? I find that you can reasonably accelerate the process. You can consider the following:
Day 1: Explore the problem that you wish to solve, and identify the external factors that are relating to the problem. Learn more about exponential technologies and disruptive models that can be leveraged.
Day 2: Based on the learnings of Day 1, draw inspiration to generate as many exponential initiative ideas as possible. If you have not crafted your MTP, you can take this opportunity to create MTP ideas. MTP refers to a Massive Transformative Purpose, a highly aspirational purpose that sets the guidance for all policy and initiative decisions. Each exponential initiative idea defines the solution or internal reaction to the problem or external disruption identified. The solution or internal reaction should be disruptive and scalable. The idea can disrupt or keep the current business model.
Day 3: You have now generated a list of possible exponential initiative ideas on Day 2. On Day 3, you will define the key hypotheses of your ideas. Determine whether your intended user group is facing the problem or not. Define the assumptions of the solution idea. You will then run multiple experiments to validate or invalidate the key hypotheses. At this stage, you are essentially testing your preliminary ideas. You have the opportunity to fail early and learn from the failures.
Beyond Day 3: Based on the evaluation of the experiments, select and iterate or generate and test new the idea(s). Besides, developing and testing a minimum viable prototype will help data collection to validate the idea. Throughout the experimentation, work out how the business model hypotheses in generating expected results from the exponential initiative idea(s). The iterative process of developing a workable solution is aimed at bringing your digital transformation idea to life! Of course, please do not forget to learn from the attributes in developing exponential organizations throughout the transformation journey.
Bringing your idea to life will require accelerated implementation involving the right capacities and capabilities. The right capacities and capabilities of people include traits, mindset, attitudes, behaviors, and leadership qualities. In conclusion, having the right people enabled with the right process will accelerate exponential transformation.