In our Digital Business (DB) series journey so far, we
Examined what it takes to be a digital business.
Clarified whether being a Digital Business is for you.
Put digital landscapes into perspective by looking at how businesses use applications to create advantage.
Mapped out the journey you need to navigate to become a Digital Business.
Discussed the implications of changing the business while running the business.
Explored the Digital Business mindset, helping you identify whether you already have the necessary internal skills or can benefit from outside help.
Identified the top 5 key traits Digital Leadership should have.
Explored what being an agile Digital Business means and enables
In this final part of the series, we bring it all together and explore the top 8 capabilities you need to be a Digital Business.
Our post on whether being a Digital Business is for you we discussed how "poster Digital Business brands" put digital and software at their core to disrupt their target industries. These included Uber (taxi & deliveries), Tesla (cars), Amazon (books & retail), Bloomberg (news & fintech), Revolut (payments & banking).
With the cloud, big data, analytics, intelligence, creation of storefronts and the ongoing improvement to customer experiences, Traditional Leaders are starting to operate closer to how a Digital Leader would.
However, there is so much more they need to adapt to that we believe it weakens their value. Their ability to build Digital Leadership skills comes at the cost of developing their domain expertise and business building skills, which the business still needs.
In your business, you will need to augment domain Traditional Leaders capabilities with Digital Leaders capabilities to effectively manage and become a Digital Business that can meet the following eight key areas of success:
Self Help by Design
Advanced Analytics around engagement and feature take rates
Digital products as a driver of innovation
Do once repeat many approaches
This brings us to the end of this series.
Thank you for your time in reading our series of posts on becoming a Digital Business. This is a topic we love to explore, and look forward to hearing your feedback.
Explore the rest of the “Digital Business” series:
Topic of Focus
Unpack what it takes to be a Digital Business
Is being a Digital Business for you?
Putting digital landscapes into perspective
Set your Digital Business north star
Changing the business while running the business
Understanding the Digital Business Mindset
Top 5 Key traits Digital Leadership should have
Unlocking Digital Business Agility
Top 8 capabilities you need to be a Digital Business
There is no one-size-fits-all solution for companies to learn how to become a Digital Business.
It is only in uniting people, product & processes through a common vision, a deeply felt purpose, and a broadly shared dream that will continue to motivate stakeholders to push on ane persevere.
Many paths can lead to your desired destination. Each route has varying degrees of complexity, sophistication and completeness. Our purpose is to share with you our lessons learned in building global software businesses to help you achieve a Digital Business with assets people want to buy.