Time to Adapt & Conquer
Are you concerned about losing deals and customer’s to more nimble providers who are digital natives? If not – you should be.
Once the shock waves of moving to a remote work environment wore off and organizations had purchased all the tablets, laptops, monitors, and Wi-Fi routers they could get their hands on.
The good news is we’ve settled into a fairly nice rhythm of seeing customers truly embrace the early stages of becoming digital-first enterprises.
Most companies are looking to adopt more cloud-delivered services, automate mundane processes, and begin to rationalize their siloed data and begin to turn it into actionable information.
All of this activity creates an unbelievable opportunity for both digital natives and those who are willing to transform, morph and pivot.
Where Do You Begin?
Like any good technology provider, you start with an assessment – a cloud & subscription business readiness assessment. Remember, transforming, morphing, and pivoting are all about change. And yes, you need to come to grips with the need to change.
But unlike others, we do not believe in throwing out the baby with the bathwater. Focusing on subscription and the cloud should be an extension of your business, not a replacement. Think Hybrid Business Model – that’s the end game.
However, you need to take a proactive approach towards augmenting your current business model and committing to change to capture value. The goals of a subscription business readiness assessment are as follows:
Identify your baseline subscription business readiness
Recognize the gaps that exist across all major functions
Determine what changes will give you the biggest boost
Develop a strategy and game plan to respond to the opportunity
How Do You Perform One?
You’ll want to begin by taking note of the strengths of your current business and then determining which of those elements will hold you back and stunt your growth.
Essentially start by asking yourself a simple question… Could we sell, market, deliver and bill for our services on a monthly basis today? If not, why not?
By the way, if your answer is yes, we can do that – you may want to re-assess your assessment results…
Why is an Assessment Important?
An assessment is important because we’ve found successful organizations believe their way of doing business will work in all situations, no matter the circumstances.
These same organizations, when confronted with a lack of progress and poor results, tend to blame external circumstances for their failures.
In fact, when we are brought in to evaluate and recommend what should be done to course correct – we typically find five (5) systemic issues exist. Those issues include:
An in-depth business readiness assessment was never performed
Leadership was unwilling to transform, morph & pivot
Business approach was opportunistic and not strategic
No dedicated team focused on spinning up the new business
Necessary changes to the business model, sales compensation, operating framework, etc. were never considered or implemented
Learn more about how a comprehensive Subscription & Cloud Business Readiness Assessment and Journey Framework can help you become a cloud and subscription revenue producer by reaching out to us and scheduling a Subscription Business Strategy Call.
Author George Mellor is Founder & CEO at KloudReadiness.