Iterate toward success
Lesson 6 – Transformation sounds big, but the most successful efforts start small and build. It’s no longer necessary to ‘finish’ a technology initiative before getting value from it. In fact, the earlier customers and employees can get their hands on a digital innovation, the better.Expect first attempts to fall short. Start with a hypothesis, test it and learn from the results.
Value will accrue much faster when real people are providing feedback on real experiences, compared to a process that emphasises perfecting the digital solution behind the scenes.
The Transformation Process is made up of small building blocks, each of which adds individual value. Each step should be tested and evaluated by people to measure the results and be adjusted accordingly.
Key things to remember are:
1. Iteration is a cultural capability
Companies that accept a certain amount of risk as the price of innovation and reward people for being adventurous will be in the best position to profit from digital transformation. If people feel safe to try new things, they will
2. Establish measurable goals – and be willing to change them
The only way to know if an experiment is making progress is if you can measure it. Are you trying to speed up a process? Increase revenue? Reduce downtime? Improve customer engagement? Anything can be a KPI with a little creativity. At the same time, be on the lookout for unexpected sources of value. Sometimes a new technology delivers in ways you couldn’t foresee.