You may be familiar with my definition of business transformation. It requires a fundamental change in strategy processes culture technology, with measurable improvements to valuation or impact. Transformation is different from change. Change is incremental. Transformation is meteoric.
So, HOW do you fundamentally change something in your business? Glad you asked.
I’m a planner. If it’s within my power I don’t leave anything to chance. So I’ve made a checklist of the 8 levers most commonly pulled on to incite transformation.
8 Levers Create Transformation
- Remove
- Replace
- Replicate
- Resize
- Redistribute
- Reconfigure
- Repurpose
- Reliance… move dependencies around
8 Lever Transformation Examples
- Remove. Airbnb is hospitality and hoteling without hotels. This was a paradigm shift.
- Replace. Uber and car-share companies replace car ownership while still solving transportation needs in a unique way.
- Replicate. Two drum washing machines double capacity and allow us to wash delicates and towels at the same time.
- Resize. Turn cake into cupcakes. Changing the scale creates a new product line.
- Redistribute. Change the sequence of processes or tools so they can accomplish more with the same or fewer resources.
- Reconfigure. Change what a thing, or employee, or product, or service does. This is all about increased functionality.
- Repurpose. What value does this add and can it do something else? Change its very existence.
- Redirect connection.
Conclusion
Making monumental, meteoric, seismic shifts in your business doesn’t happen by accident. If you’re planning a transformation effort, be sure it pulls on at least one of these 8 levers of transformation.
Take Action
Ready to transform? I help companies like yours get more efficient, attract investors, and reinvest their capital to create long-lasting value. Schedule a call for more https://bit.ly/AmplifyGS
Cheers!
Stacy