At this moment, tech-savvy entrepreneurs are strategizing a business start-up, which very likely involves only a handful of people (Uber started with two). Today’s young business people intuitively understand how the digital economy works and they’re ready to jump in. More importantly perhaps, they embrace a fluid organizational structure – less hierarchy, more talent. It means that they tap into expertise they need as they need it, as opposed to hiring, training and managing staff. When it comes to innovation and speed to market, we could learn a lot from these start-up entrepreneurs. Who knows, they may one day be our competitors.
The business with the best technology wins
Most established businesses have significant overhead, including legacy IT systems. Over the years, various programs and equipment are assembled to run the operations. Eventually though, disconnected software and outdated equipment hinders growth. The worst mistake you can make is to simply replace or update what you have. In today’s fast-paced digital economy, it’s imperative to think strategically about IT. The big advantage for start-ups is that they aren’t tied to ‘the way it’s always been done’. And so you need to challenge conventional wisdom and harness technology that will re-invent your customer experience or drive efficiencies that you couldn’t even image two years ago.
Get there – faster
Digital transformation isn’t just about technology. It’s about rethinking the way you connect with customers, suppliers and employees. Your vision, experience and network of contacts represent a huge advantage over start-ups. How can you leverage that to leapfrog competitors? Do what start-ups do – tap into expertise outside of your organization.
Having a ‘liquid workforce’ means that you have reliable access to resources, even if they aren’t part of your staff. For example, IT is easily outsourced – either fully or as an extension of your onsite team. In this type of arrangement, often called managed services, your dedicated account manager is aligned with your business goals and guides your technology decisions. This person is backed by a team that, for a monthly fee, gives you 24/7 resource availability, when required. Essentially, it’s a partnership that fuels your objectives with enabling technology, such as mobile solutions, e-commerce, cloud computing, or the next big thing.
Relevant links:
- Now’s the time to make IT decisions - 3 support options to consider
- The Digital Economy: Disruption, Transformation, Opportunity (Digitalist magazine)
- 3 Trends Defining Hiring Success In The Digital Economy (Digitalist magazine)