New technology has posed new challenges for existing companies, and now digital transformation is happening all around us. When it comes to innovation, existing companies are being beaten to the punch by evolving platform companies such as Amazon, Google, and Apple. I think there are some great reasons as to why existing companies are having such trouble with growth, and it is not necessarily because of these technology companies taking all the business. Humans, not companies, drive digital transformation. If companies wish to be successful, a lot of success will come from great leaders and thinkers.
There are great leaders motivated to bring change to the world, and other leaders that hold their positions for power and simply do not care when innovations come along (until it effects them). The difference between these two leaders is productivity, and the leaders for change typically give out more positive results. I believe there are many leaders uprising to bring change to the world, and this is noticeable in digital transformation.
First, lots of successful people are the ones that lead digital transformation. Digital transformation is making the world a more productive place, and the ones implementing change are the ones ahead of the curve. Even in small business settings, Tito’s Burritos allows you to place orders online, is it possible that option gives them an edge over the competition? Secondly, many, if not all of these people leading digital transformation, are also “self-made“, meaning their wealth is not inherited. They are self-made because of their brilliant accomplishments. Solely a genius will make his or her way to the top given motivation. Millions of inherited dollars does not make you a genius, it just puts you in a better position to succeed. Third, the leaders of digital transformation are determined to expand, their companies are notably the strongest growing in the world. Although these people have made it to the top on their own, they still persist for more, and continue getting smarter everyday. These are intelligent leaders, and they do not settle for anything less than more.
What does this all mean? It means people like you and I, people who came from normal middle class families, rose to the top. We are no different from the ones at the top but why are they in the position that they are in today and we are still down below? They hopped on trends and took them first. These leaders thought exponentially and came up with innovative ideas. As humans, we typically follow a trend of patterns and think in the same direction, but thinking outside the box helps when trying to be innovative. There are many humans with the potential of starting new trends, they just need to think differently in order to discover these trends. In the video below, Jeff Bezos explains what motivated him to startup Amazon.
Notably, Bezos mentions two key facts: the fact that books are widely popular and profitable, and web usage is expected to grow at a rate of over 2300%. Bezos took these two different facts and turned it into one brilliant idea, an online bookstore, bound to expand its services into what we know today as Amazon.
Like Bezos, us humans are capable of connecting the dots in order to come up with innovative ideas. In order to do so, it is important to keep track of trends and act accordingly. Ignoring the first wave of innovation will only make us unprepared for the second wave, and we must learn to adapt with changes in our society. Humans tend to go with the flow but this must end. If humans aspire to live in a world with digital transformation, they need to be five steps ahead of what is going on around them and expect the unexpected, plan for the inevitable.