Why Do Entrepreneurs Need A Digital Transformation Strategy?

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Why Do Entrepreneurs Need A Digital
Transformation Strategy?
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(No Transcript)
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• Your growth may be sparked, your performance can
  be increased, and your earnings can rise quickly.
• There is a lot more to digital transformation
  than simply providing staff with the latest
  technical gadgets. It entails altering your
  organization's culture to leverage data and
  technology to hasten decision-making, improve
  customer service, and make more informed
  judgments. Adopting a mindset of continuous
  innovation and quality improvement is a crucial
  part of the process.

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• The Trends stats for the adoption of Digital
  Transformation are mentioned below. (ref
  https//quixy.com/blog/top-digital-transformation-
  statistics-trends-forecasts/ )
• The worldwide digital transformation market is
  predicted to increase at a CAGR of 16.5 from
  469.8 billion in 2020 to 1,009.8 billion by
  2025.
• By 2023, 53.3 trillion in GDP is anticipated to
  be contributed by firms that have undergone
  digital transformation.
• Markets Markets predicts that the digital
  transformation market will expand from 521.5
  billion in 2021 to 127.5 billion in 2026, with a
  compound yearly growth rate of 19.1.
• According to DC, at least 90 of new workplace
  apps will use AI technology in their processes
  and end products by 2025.

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• What is Digital Transformation?
• By utilizing technology, digital transformation
  may alter how you do operations. It represents a
  significant cultural shift in the manner in which
  you communicate with your clients.
• Businesses that launch an endeavor to change
  their businesses digitally will develop a culture
  that welcomes innovation and transformation,
  integrate digital technology into every element
  of their organization, and alter or create new
  consumer experiences and business processes.

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• 8 Steps which Lead to Digital Transformation
• 1. Increase the urge to act-
• Why is transition so important? Why is it crucial
  to the company? Consider not just why you must
  change, but also what you must do right away.
  What harm will it do to delay too long?
• 2. Construct a Guiding Alliance-
• Put together a group that can lead the
  transition. This is not an IT-specific or
  one-person job. Every division and level are
  involved. To get buy-in from all organizational
  levels and departments, make sure your coalition
  is diverse.

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• 3. Establish a Strategic Objective-
• Organize your activities around a distinct vision
  and plan. Companies frequently use the term
  "digital transformation" without fully
  understanding what it refers to. In a few
  minutes, your leading coalition should be able to
  sum up the vision. What the business will look
  like in the future and why it's important should
  be included in your vision.
• 4. Promote the Vision-
• Utilize all of your available channels of
  communication to keep staff members informed and
  inspired. Don't forget to describe your vision
  and provide project updates.
• 5. Eliminate Obstacles to Encourage Action-
• Making your shift as simple as feasible can
  hasten it. Therefore, the leadership must remove
  any obstacles, including those related to
  procedures, budget, training, and staffing.

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• 6. Create quick victories-
• You won't change in a day. It will take a while.
  Divide the shift into more manageable goals, and
  rejoice when you reach them. Mini-milestone
  celebrations help the initiative gains momentum.
• 7. Continue to accelerate-
• You must get momentum and persevere. Keep an eye
  on your transformation and make adjustments to
  your strategy as necessary. Have a debrief
  following each launch. Discuss what was
  successful and what may be made better. Encourage
  teams to make improvements to their procedures as
  they get more knowledge of the new system.
• 8. Anchor Organizational Culture Changes-
• As much as it involves altering how you operate
  and do business, digital transformation also
  involves changing your culture. Before realising
  the advantages of a new process system, many
  firms forsake it. A quicker and more successful
  transition is guaranteed when change and digital
  adoption are actively encouraged inside your
  culture.

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• 3 main benefits of Digitalization in Business
• Enhanced online presence
• This advantage is undoubtedly the most noticeable
  one. A company's exposure is unquestionably
  increased if it is active on social media, in
  online retailers, and in business directories.
  Many businesses solely have a digital presence,
  which means they have practically no offline
  presence.
• The emergence of new communication routes
• The adoption of digital technology has increased
  the company's online visibility and has also
  given rise to new forms of communication.
  Examples of these recently developed (well, not
  really recently established) communication
  channels include emails, smartphone apps, and
  social media. You even have the potential to put
  an omnichannel strategy into practice by using
  the power of digital communication channels!

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• Digitalization fosters creativity-
• Innovations in business are significantly
  impacted by digitalization. As technology
  develops, you are just obliged to act and
  innovate. It's also difficult to quit once you
  get going. Your ability to continually innovate
  will enable you to be more aware of emerging
  trends and possibilities.

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• What should I do now?
• You might be curious about how to truly
  digitalize your firm after learning that it's
  necessary for success in the new digital
  environment.
• Versatile Mobitech in Hyderabad will be pleased
  to assist you if you're a business owner
  attempting to steer your enterprise in the
  appropriate direction.
• Many organizations still use WordPress nowadays,
  but fewer still decide to seek for a better
  solution. If you want to be successful in the
  modern economy, it's imperative that you stay
  current with new technology.

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• You're thinking about the particular steps you
  need to take to entirely digitalize your company,
  but don't stress about it. The team at Flexible
  Mobitech would want to learn more about your
  suggestions and share some of our own with you.
• Free advice is always beneficial, right?
• You already know what to do if you want to
  advance and keep up with your rivals. Get in
  touch with us to discuss how we can take your
  company to the next level!

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• Contact Us
• Versatile Mobitech Pvt. Ltd.
• Visit https//www.versatilemobitech.com/
• Call us 91 9701930011
• Mail sales_at_versatilemobitech.com

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• Thank You