Published on August 25th, 2022
You’ve decided to embark on a business transformation. Congratulations! You’re in good company: According to McKinsey & Company, 70 percent of companies today are looking for ways to transform their industries. Unfortunately, not all transformations go smoothly.
To ensure yours is a success and that you don’t lose sight of why you’re making these changes in the first place—which is usually something like improving productivity and profitability—here are five tips for ensuring your transformation goes well:
Formulate A Plan
A plan is essential. Formulating a plan includes not only defining your goals, but also identifying the steps that will get you there.
The first step in formulating a healthy business transformation plan is to think about what problem needs to be solved or what goal needs to be achieved.
This may seem obvious, but it’s important to identify the specific problem before moving on to developing solutions or setting goals that achieve those solutions. Once you’ve identified the problem, ask yourself: “What steps do I need take?”
In addition to asking yourself these questions, it’s also helpful to understand how other people have approached this problem before they started implementing their plans (e.g., “How did they know where they wanted their business transformation process?
What did their daily schedule look like?”). In other words: respect their work ethic and commitment even if it doesn’t match up with yours exactly!
When developing your own personal fitness training program for example—you should start by choosing one goal at a time then taking small steps each day toward achieving that goal; over time these small steps add up until reaching the end result!
You can use this same approach when deciding which areas of life need improvement – whether its finances/business growth or relationships with family members/friends etcetera.”
Find A Business Transformation Coach To Help You Begin Your Journey
Finding a business transformation coach to help you begin your journey can be an invaluable resource. They can help you formulate a plan, find reliable sources of information, and get buy-in from your executive team and board members.
Additionally, they can help you remember that your employees are people—and sometimes the best way to make them feel that way is by treating them as such!
A business transformation coach will provide unbiased advice on what steps to take next in order to succeed at implementing change within your organization.
They’ll also provide clarity around potential roadblocks so that when problems arise, they won’t seem so overwhelming. The most important thing to remember when working with a business transformation coach is: don’t try this alone!
Research Reliable Sources Of Information.
It’s important to research reliable sources of information. How do you know if the information you’re reading is accurate?
- Check the source’s credibility. Is it an established business publication, or a blog?
- Verify their credentials. Are they qualified to speak on this topic? If not, what qualifies them as an expert?
- Cite your sources! Make sure you’re citing all of your sources when referencing any information from someone else’s mind in your own work–even if its just paraphrasing them (such as “Dr. Joe said” or “my friend told me.”). It helps build credibility for yourself as well as for others who may read it later down the road!
Get Buy-in From Your Executive Team And Board Members
As the leader of your business transformation, you need to do more than just talk about change. You need to get buy-in from your executive team and board members, who will be responsible for driving results and maintaining them over time.
They may also have an important role in helping you gain the support of other employees who are needed for success.
Make sure that you’ve done research on what types of changes your executives want before going into this meeting with them.
If they’re not ready for change or don’t agree with the direction that you want your business to go, it could be difficult getting buy-in from these people as well as others across your organization.
Remember That Your Employees Are People
Your employees are your greatest asset. They’re the ones who make your business successful. You need to remember this as you go through a transformation, because it’s going to be difficult and challenging on all of them.
The key to success is being able to motivate your employees while they’re working through the changes, so they can still perform their best work and get things done in a timely manner.
When you’re doing a transformation, remember that it’s not just about efficiency; it’s also about communication with everyone in your organization—from managers all the way down through front-line workers—who need to understand what’s changing and why those changes are important for the future of their company (and even themselves).
Listening is an important part of being an effective leader: It allows us not only hear what others have been saying but also understand how well we’ve been communicating our message so far!
In addition, listening allows us know whether or not there needs any adjustments made before sending out another round of information about what we want changed next week…or month…or year?
Business Transformation Is Exciting, But It Doesn’t Have To Be Difficult
Business transformation is exciting, but it doesn’t have to be difficult.
The journey to a digital world can be daunting, but the payoff can be worth it. You’re not just changing how you work: you’re changing how you think about your business and customer relationships.
Digital transformation isn’t just about technology or strategy; it’s also about people and culture change — which often means becoming more flexible in how you approach problems and making adjustments as they arise while taking care of all the details along the way.
Conclusion
A business transformation is an exciting, but daunting, process. However, if you’re careful to plan ahead and seek help from experts, you can make your transformation more manageable and less stressful.
Remember that it’s important to have buy-in from the executive team as well as the board. You’ll also want to find reliable sources of information that will help guide your decisions about which parts of your business need changing most urgently.
Finally, keep in mind that employees are people too; when planning for change it’s important not just from a financial perspective but also from an emotional one (i.e., they might not like change).
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