Thursday, November 1, 2018

NCB Digital Symposium 2018 - Terry Ann Segree - Digital Transformation and Small Businesses

Small businesses are already agile [by default]. They are working in small groups, need to move quickly etc…

We are now in a digital economy. We use our mobile phones and everyday new innovations are developed. Regardless of size you're not protected from the disruption that is happening.

To achieve digital transformation you need to make the time otherwise you will be out of business.
Digital transformation is enabled by technology but driven by people. This includes founders, employees, customers, suppliers and partners. As a small business you don't have the resources to hire a "Digital Transformation Officer".

Focus on strategy and culture

  • Lead from the front
  • Put strategy before technology
  • Encourage new cultural norms
  • Competence of team
If you don't foster the culture where your employees relate to you what they have learnt from
The customer you are losing some of the opportunities [to learn from customer feedback].
Your customers want it now! They don't want to wait, this is true of employees, they want
To feel a part of the ... (not sure what she said here).

The process of innovation

From Thinking in new boxes:
  1. Doubt everything
  2. Explore
  3. Diverge
  4. Converge
  5. Re-evaluate

BIC pens in a meeting asked the question.. Why not make razors?
Look at your business. When Spirit airlines started they started as a low-cost carrier with now assigned seating.
You need to understand the world you live in, not just your business. Understand your customers and look at how to solve their problems.

(missed the rest of the presentation)

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