It is clear what differentiates the maturing too early and developing companies is their approach to adoption. It is the “How” that matters not the “What”. If the “How” is not addressed, a lot of your digital transformation initiatives may not provide the intended return on investment (ROI).
It all boils down to the culture of the organisation and the environment we create for adoption. The culture that maximises the probability of adoption is the one which enables,
1. Risk-taking: If you want to be 100% sure, you will be 100% late
2. Collaboration: It is “Us” vs “I” or not What is in it for me?
3. Agility: Speed matters
4. Continuous Learning: It’s ok to make mistake, but do not repeat but move forward learning from it.
Linking back to our earlier conversation on competitive and collaborative cultures, the way to win or succeed is to focus people on a driving force of change that is outside of your company (courtesy Geoffrey Moore).
Change your war cry!
# Competition culture, this would be a competitor using disruptive technology to steal your market share. Think Google for Microsoft, Lyft for Uber, Nvidia for Intel, or Arista for Cisco. Transform or they win! That’s the sort of thing that galvanizes change in a competition culture.
# Collaboration culture, the driving force is fear of letting your customer down as the world shifts to a new platform. Think of Salesforce championing machine learning, Docusign championing systems of agreement, or Proofpoint championing people-centric security. These are changes that could put your customers’ franchises at risk. No customer left behind! That’s the battle cry that brings a collaboration culture to attention.
Transformation requires sacrifice. We are going to have to step back before we step forward.
People are willing to sacrifice for the right cause outside the company, but not inside. So, when you are leading a transformation, be sure to keep people’s attention focused on a North Star that transcends their individual issues, not on the career compass they are holding in their hand.
Knowing all this, how will you transform your fashion/lifestyle brand, in particular the supply side. In retail, there are two sides to the coin “Consumers” and “Products”. While a lot has been talked about in digital transformation facing consumers, less attention is paid to the “Products”. This is what kept worrying us and Stylumia was born.