What are the best transformation strategies for aligning with your business goals?

I have led strategic transformation at global financial firms and I always found John Kotter's 8-step process for leading change an effective and timeless framework. It is relevant both for aligning strategies with goals, and for safeguarding the successful delivery of those goals. This process is not panacea. Each transformation is unique to its situation, objectives and circumstances. Of the 8 steps, I find these to be most critical: Build a Guiding Coalition, which is not only a competent team sharing the same objectives, but also an extended group of enablers; Enlist A Volunteer Army, meaning that communication needs to be constant and consistent; and Institute Change, by making change stick in the culture and processes of the firm.

Without a doubt, agile thinking + lean processes are necessary, but the most important aspect is to keep your team motivated and interested in the benefits and opportunities that will emerge from this changes. People in any organization will always be the most valuable and powerful assets, they will become the change agents needed for your transformation process.

People are at the heart of any successful transformation. It is so critical to involve employees of various ranks and roles in the assessment and roadmap creation process. These employees should also be empowered as change agents who can articulate the transformation and 'recruit' other employees into the change through a well-designed change management strategy that needs to be thought through alongside the roadmap.

I've found helpfull moving from the 'first-level' customer relationship to the 'second-level' customer relationship. Instead of selling our pruducts and services to the client, looking at who is our customer's customer - either externally or internally (e.g. offering services to an HR department understanding its client is the CEO) and thus framing our offering through imaging ourselves as a part of the customer value-creating chain instead of 'serving the client's needs'.

I was recently participating at a HBR press webinar about "Energy Rising" The Neuroscience of Leading with Emotional Power with Dr. Giulia DiGangi and for me there was an other confirmation, coming for neuroscience now, that 80% of the transformations will continue to fail because the brains of the teams does not achieve the change. So, from my experience also you have to change first the minds and the hearts of the teams in order to increase the chance for change success!

This step sets up where we want to go - the objective. This has to be clear. Sometimes different stakeholders understand the objective from their own perspective. It's important to be fully aligned before taking on next set of actions.

Consider applying design thinking principles to shape your desired state during the transformation. Engage cross-functional teams in collaborative brainstorming sessions to envision innovative solutions and possibilities.

I once heard that the greatest nation on earth, is the imagination. I’d encourage you to think big before you let the practical - limit your aspirations. Of course, there is a reality that must be reconciled. But, start with the big vision of where you want to go and why its important for the long-term value creation of the business. Vision statements are helpful as a guiding tool. Be sure the vision is simple and ultimately can be measured.

If "Desired state" is defined by business itself, it would be really a limited vision for the future. If It is defined by a strategy team or consultants, it can be hard to implement properly. So it is very hard to define both applicable and visionary desired state. That's why we designed a transformation team responsible for not only strategy development but also implementation. And also the team has strong business current state information with deep market intelligence.

Business Transformation in companies is a long-term and continuous process. In company transformations, the goal should be clearly stated and the steps to be taken should be listed one by one. In the following process, these steps should be carried forward with determination and the results should be evaluated step by step. In this process where sales strategies and customer behaviors change very rapidly, we observe that companies that cannot keep up with the change shrink rapidly. Companies that keep up with the new generation, adapt quickly to new customer habits and make innovation a habit continue to shine rapidly.

Consider adopting an agile approach when designing your transformation roadmap. Agile allows for flexibility and iterative development, which is particularly beneficial in the dynamic healthcare landscape.

A helpful process to employ is to understand the crux of the need to transform. Very often this relates to changes in market dynamics driven by consumer demand patterns and micro/macro enviromental conditions prevalent. A strong antagonist would be the evolution of technology and how to adapt the organizational strategy to respond appropriately. For highly agile entities, the marketing, distribution and settlement for goods and services should be a primary focus when competing at a global scale.

Another model that worked well for our clients is applying a five-step planning process followed by a four-step refinement process. Both graphical illustrations will be posted on our LinkedIn page.

Keep it simple, a project management plan is a most useful tool here for your roadmap. And, remember, plans do change and with good reason often enough.

Design your transformation roadmap like a thrilling adventure, where every turn leads you closer to your business goals. It's not just a plan; it's your path to triumph! To create an effective roadmap, follow these steps: 1. Set Clear Milestones 2. Prioritize Initiatives 3. Allocate Resources 4. Establish Timelines 5. Cross-Functional Teams 6. Communication Plan 7. Change Management 8. Risk Management 9. Key Performance Indicators (KPIs) 10. Feedback Loops 11. Monitoring and Evaluation 12. Scalability and Flexibility 13. Integration of Technology 14. Sustainability and Social Responsibility 15. Continuous Improvement Your transformation roadmap is a dynamic document that should evolve as your organization progresses.

Having led multiple transformation initiatives, there are crucial success factors beside the pure project management framework (with project plans, tasks, risks & issues etc): -Ensure, that you have identified and planned some quick wins / sub-milestones to show success and keep the momentum and motivation of the change transformation high. An agile way of working / method can support this, but nevertheless needs respective planning. -Identify the right team! Ensure that you have people with the right mindset, understanding your vision and acting as change agents. Your roadmap can be great but will fail with the wrong team. -Lead by example

The biggest hindrance to any transformation initiative is the people. Unless all key stakeholders are fully aligned with the need and path to transformation, all efforts are futile. Thus, it is absolutely imperative to spend sufficient time with the leadership to align on the thought process, objectives, and end goal.

When embarking on transformation initiatives, consider the ‘Butterfly Effect.’ Just as a butterfly’s small wing flaps can create significant ripples in the atmosphere, even small initiatives can have a profound impact on your organization’s transformation. By nurturing and monitoring these ‘butterflies,’ you can channel their effects strategically, ensuring that each initiative, no matter its size, contributes meaningfully to your overall transformation goals. This perspective has help reminded me that even seemingly minor actions can lead to substantial and transformative outcomes.

An example of this is when I've seen that once your desired state is defined, it's time to put your plans into action. Break down your transformation strategy into manageable initiatives and projects. Assign responsibilities, set timelines, and ensure that the necessary resources are available to execute the initiatives effectively. The key is to take deliberate steps towards the desired changes that align with your business objectives. 🗂️🔨 I agree, but it's important to maintain clear communication throughout the implementation process. Keep your team informed about progress, address any challenges or roadblocks promptly, and adapt as necessary. 🗣️🏢📈

Execution is one of the most important parts of the transformation process, it goes hand in hand with clear communication and constant feedback from the parties involved.

To me this is the most critical and important step for any strategies. Always we need to evaluate the impact even though the strategies are successful. Review and self reflect may come with few more impactful strategies for future. Set your Goal > Align with the needs of target group > Effective executions > Score card analysis to evaluate the impact

Right from the beginning of the digital transformation project, we have established OKRs or KPIs that need to be achieved. Therefore, the completion of tasks should align with the initially set OKRs or KPIs. If not, please reassess whether the ongoing tasks are heading in the right direction.

1. Regularly assess the impact of your transformation initiatives. Measure the progress made towards your defined goals. 2. Use key performance indicators (KPIs) and other metrics to track the success of the transformation. Adjust your strategies if you're not achieving the desired results. 3. Solicit feedback from stakeholders and customers to gain insights into the effects of the transformation.

From Dreams to Data: Your Business Transformation Scorecard! Evaluate your transformation impact like a seasoned judge at a talent show, and let the numbers tell the story of your journey towards business success. It's not just change; it's the transformation that counts! To assess the impact, follow these steps: 1. Define Success Metrics 2. Baseline Assessment 3. Regular Progress Monitoring 4. Quantitative and Qualitative Data 5. Benchmarking 6. Stakeholder Feedback 7. Cost-Benefit Analysis 8. Customer and Employee Experience 9. Operational Efficiency 10. Market Position 11. Innovation and Productivity 12. Alignment with Goals 13. Sustainability and Social Responsibility 14. Celebrate Successes

Create Job / Role based learning programs to upskill employees to achieve business goals. Measure success of the programs with metrices aligned with business goals.

Keep the transformation fire burning bright as you sprint toward your business goals. It's not just about change; it's about the sustained energy that drives your organization to new heights! Here's how to keep the energy going: 1. Cultural Continuity 2. Leadership Engagement 3. Communication Cadence 4. Feedback Loops 5. Celebrate Successes 6. Training and Development 7. Performance Management 8. Flexibility and Adaptability 9. Ongoing Optimization 10. Scaling Up 11. Customer Engagement 12. Innovation Culture 13. Risk Management 14. Data-Driven Insights 15. Long-Term Vision 16. Leadership Succession 17. External Benchmarking

Transformation and change is best built in a glass house. Make sure the “why” is communicated with your teams to allow for questions, feedback and collaboration, ensuring a strong foundation and early adoption.

The only thing that is constant in business is change! We need to be quick, nimble and adopt changes quickly to stay relevant. As a leader of a business or team you should always be carefully evaluating on how to improve your process, your product, your people or your company culture.

Transformation programmes can run out of steam if you don't keep checking in on their alignment to what's happening in the 'real world'. A long term programme can drift away from the best business strategy if it isn't regularly sense checked. My successful teams have, every quarter, refreshed the plans for the stuff we will actually do in the next 3, 3-6, and 6+ months time. It works.

Transformation for existing companies can also be done with existing customers. If an existing company want to make a change, there must be an underlying reason, perhaps declining revenue, rules and regulations, climate impact and so on. Building the road map, a company might be able to build and deliver a service or product to a market with clients that help to make the journey a success. The traps are however to understand the like and need and not confuse them. I believe the butterfly effect was mentioned. Start small but be ready to scale, and have the economy to do so.

Ensure that there is no moral or managerial blindness among the founders, board, advisers, and leadership before proceeding. If such blindness exists, determine a level at which you can work. Otherwise, any effort to perfect the transformation through 10,000 meetings will revert to the initial state, resulting in wasted resources and unachieved business goals. For some managers, aligning with business goals may entail creating entropy for a good salary.

In my experience it’s important not to forget about emotional honesty of leaders throughout the transformation process, particularly during the common “Valley of Death” that can happen mid way through execution of a challenging transformation. That ability of a leadership team to admit things are not perfect or necessarily happening on the planned timeline can absolutely nudge morale and culture in a better direction and make the differs between success and failure on a new path.

I would just add, insure that you as a CEO are willing to delegate a lot of tasks. It will be hard, but very rewarding, and will definitely transform your business and help you reach your goals.

Every business could use 'Business Model Canvas' (by Ostervalder) and implements digital transformation steps one by one block of canva. For example, starts from 'customer relationship', continue on 'channels' and do the next one by one.