My wife and I were talking the other day. She pursued indoor cycling (spinning in Swedish) and she wanted me to join her for the upcoming exercises. I am not that fond of cycling and tried to come up with different excuses to not be a part of it.. We live outside the city and she exercises in her spare time. So after some discussion I told her that I didn’t want to drive into the city in the morning or the evening just for exercising. She grumbled and asked me that if she finds a solution where I didn’t need to leave home, would I still join her?. “If you do that my dear wife, of course I will join you” I said and forgot about it. Suddenly after few months she came back to me and told me that it will soon be time for me to join her. “What do you mean” I said, She showed me a website http://www.wired.com/2014/11/peloton/ and there it was.
The disrupted new way of doing indoor cycling without leaving home and still do it together with other people. The bike is connected to Internet and could live stream classes from home. It comes with a touchscreen tablet and I could both follow the instructor and interact with my wife or other cyclists.
This is one of those things that I couldn’t imagine a year back or so and now it’s a reality and it has of course a lot of potential in the future from many aspects. There perhaps may be less driving with my car and the opportunity to exercise at home but still interacting with the social thing together with other people.
The world is changing everyday and there are new things the whole time that could change your behavior in a disruptive way. You may have a new business of your own next month based on something that you didn’t know today or maybe your current business risk to go out of business because you didn’t recognize what just happen. Your business model got old during the last month because of someone that succeeded to innovate with new technology and he or she did use new ways of thinking through a digital business mindset.
We now know that if the timing is right, the technology is there and that someone that understands the digital transformation is involved, then amazing thing could happen almost over night. It’s a huge potential for the guys that are openminded and acting in a proactive way. They had invested in digital competence, they have dared to challenge their current business model, they have understood the value of combining Business & Technology using their understanding of the digital era that happens right now and they will act fast.
We also know if you don´t care what happens, you may risk your current business or at least could meet a struggling journey where your digital competitors will move much faster into the new opportunity than you are able to.
We are now exposed to several really promising new technologies that could have a huge impact on my and your life, my and your company but we need to get behind the hype and be willing to learn that the world is no more what is was. There is a new paradigm heading at your direction with the Digital Transformation.
Let me for a minute represent your role model for the tomorrow´s customer or maybe your coming employee.
So who am I and why should you care? I´m 47 years old and I am in the beginning of the Digital Transformation. I´m paying a small amount, a fixed price for all my listening for music, same for all my movies that I´m streaming to whatever device I use. I don’t buy newspaper or weekly magazines anymore. I just pay a fixed price and read whatever I want with my tablet and the same is true for my reading of books. I´m living in Sweden but now make my Christmas shopping from my home by surfing the web. That’s not particular new you may interrupt. That’s correct but I´m now shopping directly from China through aliexpress.com and I may be talking directly to the manufacturing firm.
I manage all my lightnings in my house through a cloud service and the same for monitoring important things inside. For example the temperature in the freezer or if its any leakage in the kitchen. The heating knows the temperature outside and adjusts automatically. My wife´s greenhouse will tell when it´s to hot or when the plants need water. This comes true through some cheap connected devices that could talk to each other.
I´m living in the countryside and I may need a new car soon. This time I don’t plan to visit my local car dealer. I will first check my social network for getting experience and opinions. Then I will start to look for reviews and then look for other type of information that the net could provide. The requirements are pretty different than my last car. I start to think what type of services that I could download for my connected car. I think that soon we will be demanding a bunch of new services that our cars should be able to. For example drive the way home by itself. We could probably go on for hours about my habits and behavior but the really interesting part is to reflect on the whole picture. I don’t behave or value the same thing as for some years ago and neither does your client or your employees. If you put small changes together you soon see that we are in the beginning of the digital revolution and it´s happen fast.
We have talked about the potential of Internet of things. We notice the hype around wearable things like Apples iWatch or Fitbits new tracker. We know that we have to innovate the healthcare for being able to meet the increased demand for better life in the future. We know that we could design and produce things in complete new ways.
Everything is or will be digital in some sense and you better take this into consideration.
Have you been thinking lately about challenging your current business model? Do you really create the value your customer needs or wants in the near future? Do you really make the best out of new technology and make adjustments for new ways of doing things? Do you understand your customer segment? Do you really challenge your supplier of business innovation? How do you know that they understand the digital transformation and have the digital competence you need for the future?
Have your management team secured that your company will evolve and transform to being the new digital leader? If not, then I think it´s time to start.