Are You Prepared to Run a Digital Business for the Digital Age?

Are You Prepared to Run a Digital Business for the Digital Age?

In our digital age, all companies must change how they think, how they interact with customers, partners, and suppliers, and how their business works on the inside. Customer, partner, and supplier expectations have changed, and a gap is opening between what they expect from their interaction with companies and what those companies are currently able to deliver. Companies must immediately work to close this expectation gap, or their entire business is at risk.

If digital natives attack, they will do it with a collection of digital strategies that utilize the power of the digital mindset to more efficiently and effectively utilize the available people, tools, and technology, and to design better, more seamlessly interconnected, and automated processes that can operate with only occasional human intervention.

To defend your company’s very existence, you must start thinking like a technology company or go out of business. Part of that thinking is to fundamentally re-imagine how you structure and operate your business. You must look at your business and your industry in the same way that a digital native startup will if they seek to attack you and steal your market. To make this easier, ask yourself these five foundational questions:

  1. If I were to build this business today, given everything that I know about the industry and its customers and the advances in people, process, technology and tools, how would I design it?
  2. From the customers’ perspective, where does the value come from?
  3. What structure and systems would deliver the maximum value with the minimum waste?
  4. What are the barriers to adoption and the obstacles to delight for my product(s) and/or service(s) and how will my design help potential customers overcome them?
  5. Where is the friction in my business that the latest usage methods of people, process, technology, and tools can help eliminate?

There are, of course, other questions you may want to ask, but these five should get you most of the way to where you need to go in your initial strategic planning sessions. What questions do you think are key for enterprises to ask themselves if they are to survive and thrive in the digital age?

Digital Strategy vs. Digital Transformation

How much appetite for digital change do you have?

Understanding how your management and your enterprise is likely to answer this question will help you identify whether your business should pursue a digital strategy or a digital transformation. The two terms are often misused, in part by being used interchangeably when they are in fact two very different things.

A digital strategy is a strategy focused on utilizing digital technologies to better serve one group of people (customers, employees, partners, suppliers, etc.) or to serve the needs of one business group (HR, finance, marketing, operations, etc.). The scope of a digital strategy can be quite narrow, such as using digital channels to market to consumers in a B2C company; or broader, such as re-imagining how marketing could be made more efficient using digital tools like CRM, marketing automation, social media monitoring, etc. and hopefully become more effective at the same time.

Meanwhile, digital transformation is an intensive process that begins by effectively building an entirely new organization from scratch, utilizing:

  • The latest best practices and emerging next practices in process (continuous improvement, business architecture, lean startup, business process management, or BPM, crowd computing, and continuous innovation using a tool like The Eight I’s of Infinite Innovation™)
  • The latest tools (robotics, sensors, etc.)
  • All the latest digital technologies (artificial intelligence, predictive analytics, BPM, etc.)
  • The optimal use of the other three to liberate the people who work for you to spend less time on bureaucratic work and more time creating the changes necessary to overcome barriers to adoption and obstacles to delight through better leadership methods, reward/recognition systems, physical spaces, collaboration, and knowledge management systems, etc.

It ends with a plan of how to transform from the old way of running the business to the new way.

The planning of the digital transformation is all done collaboratively on paper, whiteboards, and asynchronous electronic communication (definitely not email) powered by a collection of tools like the Change Planning Toolkit™.

The goal is to think like a digital native, to think like a startup, to approach the idea of designing a company by utilizing all the advances in people, process, technology, and tools to kill off the existing incarnation of your company. Because if you don’t re-invent your company now and set yourself up with a new set of capabilities that enable you to continuously reinvent yourself as a company, then a venture capitalist is going to see an opportunity, find the right team of digital natives, and give them the funding necessary to enter your market and reinvent your entire industry for you.

What do you want to re-invent?

Our team at Oracle was created to use design thinking, innovation and transformation tools and methods to help Oracle customers tackle their greatest business challenges, to re-imagine themselves for the digital age, and to discover and pursue their greatest innovation, transformation and growth opportunities.

We call this human-centric problem-solving and together we create plans to make our customers’ solution vision real in just weeks. And along the way, this new Oracle approach helps increase collaboration across business functions and accelerate future decision-making.

Find out more about how to protect your business from digital disruption, building upon these five foundational questions with additional questions and frameworks contained in my latest success guide Riding the Data Wave to Digital Disruption.

This article originally appeared on Innovation Excellence

–> CLICK HERE TO DOWNLOAD THE SUCCESS GUIDE

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Innovating at Cloud Speed

Innovating at Cloud Speed

Innovation in the software industry continues unabated. No longer do we have to program computers directly in ones and zeroes, with cumbersome paper punch cards, or even to craft every line of code by hand. We have entered a new era of technology capability with modular software, code libraries, autonomous databases that maintain themselves, finance applications with artificial intelligence and machine learning that enhance experiences and outcomes, and even software that can write other software.

But it is not just technology that is advancing. At the same time, we have created advances in process optimization and how we manage people, while also creating new tools that help us be more efficient and effective in our work. This intersection of improvements in people, process, technology and tools, has allowed us to create a steady stream of innovation and make it possible for the nimblest organizations to continue to meet or exceed ever changing customer expectations.

A new research report, Agile Finance Unleashed: The Key Traits of Digital Finance Leaders, finds that the most advanced finance teams are moving toward a more agile operating model, powered by software-as-a-service (SaaS) applications and emerging technologies. AI, machine learning, digital assistants and chatbots, predictive analytics, and other innovations are automating routine tasks, freeing up finance talent to analyze new business opportunities and change course quickly.

“CFOs are driving cloud migration because it just makes sense,” said Oracle CEO Mark Hurd to an audience of finance executives during a 2018 event. “It reduces expenses, increases efficiency and creates more opportunity to truly innovate.”

Click here to continue reading on the Oracle Blog

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What is the Cost of a Failed Change Initiative or Innovation Project?

What is the Cost of a Failed Change Initiative or Innovation Project?

It seems like a simple question.

One that you would expect to lead to some risk mitigation behavior, but it doesn’t.

And when you consider that companies are spending an increasing amount of their budget on technology and working to transform their operations to be more digital in order to provide a better experience for customers, employees, partners and suppliers while simultaneously creating a more efficient and effective business, you would think that companies would do everything possible to make sure that these projects succeed, but they don’t.

Everyone knows that a lot of technology projects fail to achieve their intended objectives, timings, and budgets. This fact and the increasing investment levels should cause more executives to look for ways to de-risk these technology investments in digitizing the business, but they’re not.

Why is that?

Are we really so afraid of learning new ways of doing things that would dramatically reduce the risk and expense of project failures that we will continue using the old ways even though we know they don’t work?

Even though there are incredibly inexpensive and easy ways of reducing both the risk of project failures and the cost of project execution, patterns of behavior are not changing…

Perhaps you see the world differently.

Perhaps you’re fed up with project failures and want to increase the speed of both change execution and change adoption.

Consider answering these five simple questions before spending a single minute on your next innovation project, change initiative, or digital transformation effort:

  1. How much is an hour of your time worth to the company you work for? (multiply this by the number of hours you expect to invest in this project or initiative)
  2. What is the fully-loaded monetary value of the time that employees are going to spend on this project or initiative?
  3. How much do you pay to a single contract project manager to spin up a project before the first minute of actual work begins? Over the life of the project?
  4. How much are you planning to spend with consulting companies on this project or initiative?
  5. How much are you planning to spend on contractors to staff this project or initiative?

Get access to the Change Planning Toolkit for less than $100Have you got the numbers in your mind?

Now, are any of these numbers $100 or more?

I’m sure they are, unless of course you’re going to do the project yourself in less than an hour and don’t value your time very much.

So, what if I told you that for less than $100 you could plan and execute your change initiatives, innovation projects and transformation investments in a much more visual and collaborative way and simultaneously reduce the chances of project failure and the cost of executing your project?

Well, you can. You just have to be willing to challenge orthodoxies and use a new set of tools, a new approach, that will feel very natural and empowering if you’re already comfortable with the Business Model Canvas, Lean, Design Thinking, or the Lean Startup.

All you need to get started is a copy of my latest book Charting Change and a $99.99/yr license for the Change Planning Toolkit™ (which comes with a QuickStart Guide). In exchange you’ll get tools worth more than $1,200 and will help to support the creation of the Disruptive Innovation Toolkit™.

It’s as simple as that.

And to get you started if you’re still unsure, go ahead and grab the 10 Free Downloads and the poster-size Visual Project Charter™ and the poster-size Experiment Canvas™ from the under-construction Disruptive Innovation Toolkit™.

Let’s change change and keep innovating – together!

Get the Change Planning Toolkit from Braden Kelley

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Genius of Rewarding Customers for Eating Other People’s Pizza

Genius of Rewarding Customers for Eating Other People's Pizza

Dominos is riding the creativity train yet again, with their latest creative marketing idea.

Following on the heels of Dominos Hotspots and Dominos Zero Click Ordering, they now have come up with a great idea for getting people to download their app onto their phones and to ultimately order their pizza.

When it comes to ordering pizza, the phone is on its way to being replaced by the app. But which app?

When ordering pizza by phone at least you could still use the same phone, but just dial a different number if you wanted to order a different pizza.

But if you want to order a different pizza using an app you have to download and install and configure a completely different app. NOT as easy switching to a different pizza place when ordering by phone. So, if an app helps to lock people into reordering pizza from you instead of trying the pizza from some other pie place, what do you have to do?

You HAVE to get people to not only download your app and install it, but you’ve got to get them to start using it.

A lot of places try to overcome this inertia by offering a discount on the first order made using the app, but this isn’t always a strong enough incentive.

Domino’s solution to this problem?

What if we rewarded people just for eating pizza, even if it’s not ours?

Sounds crazy, right?

Well, that’s exactly what they’ve done with their latest Points for Pies promotion. Now, if you download the Dominos Pizza app onto your phone AND join their rewards program AND take a picture of any pizza once a week for six weeks using the app you’ll earn enough points to get a free medium two-topping pizza. But, to add a sense of urgency, you must earn your 60 points before the 100 million points run out, which probably works out to about 2-3 million people participating before the points run out.

Supposedly the app uses artificial intelligence to detect pizza in the photo, but I have a sneaking suspicion it will give you points for taking a picture of just about anything. I don’t eat Dominos Pizza, so let me if you can take a picture of anything funny and still get your points. 😉

So, what do you think? Will this promotion drive app downloads, and more importantly, rewards program signups and app usage and pizza purchases?

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8 Design Thinking Flaws and How to Fix Them

8 Design Thinking Flaws and How to Fix Them

by Braden Kelley and Adam Radziszewski

Design Thinking attempts to extract the mindset of a designer, an artist, a creator, or even a child into a series of steps that can be applied to any discipline (even business or politics) to solve human-centered problems. Its steps are so logical that we can’t imagine anyone opposing them.

  • Why wouldn’t you speak with customers and observe them?
  • Why wouldn’t you collect diverse perspectives and research before choosing a problem to solve?
  • Why wouldn’t you come up with lots of ideas, prototype the most promising and test those prototypes?
  • If you’re selling to people, to humans, why wouldn’t you use a human-centric approach?

Because people can quickly understand the power (or promise) of Design Thinking, companies, consultants, and universities have latched on to the methodology and quickly accelerated it to the top of the hype curve. This has created a lot of problems for both expert Design Thinking practitioners and for the methodology itself.

So, let’s look at eight Design Thinking flaws and how to fix them:

Click here to continue reading on CustomerThink.com

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7 Steps to Building Stronger Sales Relationships with Human-Centric Problem Solving

7 Steps to Building Stronger Sales Relationships with Human-Centric Problem Solving

by Braden Kelley and Adam Radziszewski

Building strong sales relationships is all about trust and demonstrating how the product/solution will make the customer’s life better. But is traditional selling getting you where you want to go?

If you’re looking to close more business and feeling stuck, try injecting some human-centric problem solving into your sales process.

What is human-centric problem solving?

Human-centric problem solving goes beyond what people say they do. Instead, it looks for what people actually do.

The approach helps you investigate the distinctly human elements that go beyond what sales tools can tell you about a prospect. It can also help you discover the true problem worth solving for the prospect.

Sometimes, you’ll even find a new problem the customer doesn’t even know they have.

Click here to continue reading on Sales Hacker

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Get My Latest Digital Transformation Success Guide

I’m excited to announce the availability of my latest Digital Transformation Success Guide.

It’s titled Riding the Data Wave to Digital Disruption.

Click to access the "Riding the Data Wave to Digital Disruption" success guide

In our digital age, all companies must change how they think, how they interact with customers, partners, and suppliers, and how their business works on the inside. Customer, partner, and supplier expectations have changed, and a gap is opening between what they expect from their interaction with companies and what those companies are currently able to deliver. Companies must immediately work to close this expectation gap, or their entire business is at risk.

This success guide provides questions and frameworks for companies to use to plan and execute successful a Digital Transformation.

Click to access the "Riding the Data Wave to Digital Disruption" success guide

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Latest Interview with Voltage Control’s Innovation Series

Latest Interview with Voltage Control's Innovation Series

I recently had the opportunity to sit down with Douglas Ferguson of Voltage Control, to speak with him for their Innovation Series about my work as a popular keynote speaker, workshop facilitator, and thought leader on the topics of continuous innovation and change, and some of my work with clients to create innovative strategies, digital transformations, and increased organizational agility.

But mostly in this information-packed interview, I reveal key lessons from the Disruptive Innovation Toolkit™ and my books Charting Change and Stoking Your Innovation Bonfire, including what’s hard about making innovation sustainable, the difference between invention and innovation and how the human elements are the key to successful innovation.

Here is an excerpt from the interview:

Start with the end in mind

Measurement provides a good starting point for establishing a strong foundation. “No innovation idea emerges fully formed. What people come up with are idea fragments and you have to collect and connect those dots to create a fully formed idea.” Based on those ideas, begin by identifying the value you want to create.

In order to make sure an initiative creates all the value it intends to, Braden advocates for the use of experiments with checkpoints. “You can have checkpoints that you establish along the way in terms of getting from what you’re able to do now versus your vision for the full value that you hope to create.” When thinking through experiments to validate assumptions about feasibility, viability, and desirability, also consider the flaws that might be present in your experimentation process.

“Start plotting out all the different experiments that you plan to run and the learning that you hope to get from each one. Those are the things that you can measure against to show that you’re making progress, to show that you’re going to get to the end and that you’re on track.”

The Experiment Canvas was designed to help with this:
Click here to get The Experiment Canvas™ (11″x17″)
Click here to get The Experiment Canvas™ poster (35″x56″)

Planning with the end in mind also includes consideration for scaling the invention. “Make sure you’re laying out checkpoints around your ability to scale it, because if you can’t get to that [wide] adoption point, then most likely you’re not going to get your investment back.” Think through what you’ll have to work against in order to scale so that profitability is part of the long-term plan from the beginning. Braden looks to companies like Tesla as an example of the potentially disastrous effects an inability to profitably scale can have on a product and a company’s viability despite having strong ideas and exploration practices.

Click here to read the entire interview

Here are some additional links:

1. Click here to visit the Voltage Control interview page

2. Click here to get your copy of Charting Change

3. Click here for more information on the Change Planning Toolkit™

Posted in Change, Digital Transformation, Innovation | Tagged , , , , | 1 Comment

CyberMonday Specials on Valuable Tools for Innovation and Change

CyberMonday Specials on Valuable Tools for Innovation and Change

You can now get a Lifetime Commercial License for the Change Planning Toolkit™!

Thank you to everyone that has already:

1. Gotten the 10 Free Tools to sample the power the toolkit
2. Purchased my book Charting Change and gotten 16 more tools to use
3. Considered purchasing a license to all 50+ tools in the Change Planning Toolkit™

Previously there were three options for using the Change Planning Toolkit™ to make money:

Option 1 for companies — $99.99 per year per user
Option 2 for companies — $299.99 + $2 per employee per year*
Option 3 for cities/states/countries — $0.01 per resident per year ($1,000 minimum)*

* These special licenses give full access to every person in the company or in the region.

BUT,

Now I’m super excited to announce the availability of a fourth option for people – the Lifetime Commercial License!

Available now for only $999.99 per user
(a $36,999.00 value)

FLASH SALE!

First FIVE (5) people get a special price of $249.99 per user on a lifetime license
with coupon code 250LIFETIME

Next FIVE (5) people get a special price of $499.99 per user on a lifetime license
with coupon code 500LIFETIME

AND as a special bonus,

  1. I will credit any educational license investment towards the purchase of a commercial or city/state/country license
  2. If you refer a company or a city/state/country to me and they purchase a bulk license, I will share 20% of the year one revenue with you

** NOTE: Lifetime refers to lifetime of the individual person or company

Thank you for continuing to support the change revolution!

 

SPECIAL OFFER: Become a Disruptive Innovation Toolkit™ Patron

The Disruptive Innovation Toolkit™ will be coming soon, and you can become a Patron by helping to fund its completion through a site license or a city/state/country license and as a reward get instant access to the POSTER SIZE version of The Experiment Canvas™ and the many other tools I’ve already completed. You’ll then of course get access to the rest of the toolkit as I complete it. You’ll get this instant access at a permanent 50% discount off the normal $2/yr per employee or $0.01/yr per resident, meaning your cost will be a paltry $1/yr per employee or $0.005/yr per resident for the lifetime of the license. AND, we can negotiate a period of advance exclusivity, allowing you to get access to the tools as they are completed and get exclusive access to the complete toolkit for an exclusive period of time in advance of the general public (exclusive period TBD).

Please contact me if you are interested in accelerating your innovation efforts and getting a competitive edge over your competition.

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Interview with Launchstreet About How to Increase Organization Agility and Speed of Innovation

Interview with Launchstreet About How to Increase Organization Agility and Speed of Innovation

I was fortunate enough to join Tamara Kleinberg of GoToLaunchStreet, a TED speaker and entrepreneur recently for an interview for her Launchstreet podcast. From building and running multi-million dollar businesses, advising Fortune 500 companies like Disney, Procter and Gamble and RICOH on fostering innovative ideas and people, Tamara’s life is about breaking through the status quo for game-changing results, and that’s what her keynotes, online programs and assessments can do for you. Obviously we’re kindred spirits so check out the lively conversation we had on her podcast!

Listen now to this episode on Inside LaunchStreet:

Download Link | iTunes | Stitcher Radio

Click the links below to find out more about the resources mentioned in the podcast:

The Experiment Canvas™

The Change Planning Toolkit™

Charting Change: A Visual Tool Kit for Making Change Stick, by Braden Kelley

Stoking Your Innovation Bonfire: A Roadmap to a Sustainable Culture of Ingenuity and Purpose, by Braden Kelley

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