Why is there so much FAILURE around digital transformation?
New tech gets a lot of hype. The buzzwords, the promises of automation, AI, blockchain, data-driven insights, robotic processes, blah blah blah. Then comes reality: 70% of these initiatives will fail!
I hate putting that stat out there because even that stat is so over-hyped, like these researchers are trying to scare you off from even attempting innovation. Why the failure when promising tech that promises to change everything?
Newsflash, it has nothing to do with the tech! It’s the timing, the process, and mainly your mindset. Are you prepared to fail, learn, and succeed? Where is the stat that follows these "successful failures" into ones that ultimately succeed and do change everything?
In my last article I wrote about the Hype Cycle, check it out on my profile (yes you have to click the link, but it turns out LinkedIn doesn’t like to click on links when reading posts 😃 ) We get started at the peak of hype, lots of buzz, excitement, and we jump right in. We forget about a realistic expectation of outcomes, but more importantly, how hard it is. Were your teams ready? Like, really ready to do their jobs, and another job to help innovate within the company? Because that’s where I see it failing.
And then, we get into reality. After peak inflation (of expectations, no economy talk here) the teams get burned out, revert to their “day” jobs, and you find yourself trying to figure out what went wrong. Teams feel burned out because the shiny new tech isn't producing results overnight, and the focus on long-term outcomes collapses. This is where most companies retreat, instead of buckling down.
I’ve been there. We’ve been there, recently making major systems changes at Impact Networking, LLC. The first round did not hit expectations. You know what we didn’t do? We didn’t hide behind it. We didn’t give up. We doubled down, re-grouped, reviewed our resources, and made a plan that is based on lessons learned. So, was our first attempt a failure? Does it fall within the 70% stat? You tell me. In the meantime, our teams are hard at work on the next iteration. My viewpoint, how could it be a failure if we now have our finish line in site?
Don’t be a statistic. Don’t fall off the cycle. Stay the course. Be patient. Double down when needed. By definition, digital transformation is not just about tech, it’s about the whole company buying into the vision of where we are going. #ONETEAM #INNOVATION #GROWTH