I have been writing my Business Transformation series by numbers and now we are at 103. When do you know you are getting near to understanding your business transformation exercise is ready to go outdoors? I’ve already let the cat out of the bag and provided the resource that I use and recommend as a foundation for this exercise. Here is the canvas (click on image to enlarge) you are looking to build.
So you might look at this and think this is overkill particularly if your preference is a napkin and let’s face it we have all done it. The merit of this canvas is that it forces an examination of all the areas that you need to understand for a go-to-market planning exercise and even then it will be an iterative process once you are in-market I recall the saying made famous by Donald Rumsfeld: there are known knowns, known unknowns and unknown unknowns. I think of this exercise as helping to resolve the former two. The latter needs a crystal ball and powers I certainly do not possess. As I have experience of, unless you have a framework for this exercise it can easily spiral out of control and lose its purpose and that is also its merit.
This business transformation exercise is for those IT businesses that are intent on building a sustainable business offering cloud services. There are 100,000s businesses worldwide that have this as a prospect although not all are ready to take action. So is this for you?
1. Are you intending to pack up your business and turn off the lights for the last time in the next 3 – 5 years?
2. Do you have the expectation to sell your business in the future?
If you answered YES to 1, then my advice is carry on as you are but expect that you may face difficult times ahead as the cloud begins to take an increasing share of IT spending.
If you answered YES to 2, then my instinct is that you will be looking to grow the value of your business and my advice is to urgently assemble your team and work through this exercise. Just before you do that can I suggest you read this.
If you are a public company you will have a different outlook, even so many large companies use this canvas.