Why Learning To Fail Fast Is Essential To Your Success
The modern era is a digital one, whether we embrace that or not. Although if we, as business leaders, choose not to we run the risk of being tumbled from our towers. Refusal to keep up with technology is no longer a viable business plan, and those who cling to the past are about to be left there – what does all of this have to do with failure? Let me explain it for you.
We are going through the process of digital transformation. All across the world executives and business owners alike are having to digitise their systems. From software updates to moving the entire shop online – the term 'Digital Transformation' encompasses all things technical. It is the way of the future, it isn't a trend and, because it is a new age of business that we have never explored before – it is still largely untried... and that's the key reason why we need to start embracing our failures, learning from them quickly and righting them before we move on.
Nowadays, whatever you think of the digital era, we are all heading into new territory - and opening opportunities up on the global stage. There are those who like to fool themselves that the digital revolution is a passing phase – but the reality is that it is here to stay. It's no longer new, with many businesses trading solely online for years now, and many new businesses doing very well because of it too. By shifting your workload onto automated digital tools you are not only streamlining your work but, one could argue, also cutting down the risk of human error. It goes deeper than this though, because going digital also creates a huge opportunity which can result in a whole world of digital marketing and free advertising that otherwise wouldn't be possible. Plus, if you aren't going to take advantage of it, you can be sure a competitor will be.
This breakthrough we are experiencing at the moment puts every single company on equal footing – and response times to technological changes, training and the ability to adapt are going to be the three critical successors in the months to come. Response times are particularly important, if only because small failures will not be the deciding factor in overall company success. If mistakes can be detected, rectified and smoothed over as soon as they happen, then small failures can be embraced instead of feared. That's because a smart business will learn from these small mistakes to make incremental improvements. The pace of digital and the rise of big data and analytics means in many instances we no longer have to wait weeks, months (and in some instances, years) and lengthy, expensive investigations and audits to realise the error of our ways.
There is help out there. For example, at Epifny Consulting we have developed our proprietary agile leadership methodology - CREATE® - which is designed to help leaders navigate digital transformation for their organisation. The approach provides guidance, advice and that all-important training that will help you stay up-to-date with all the mod-cons, as well as educating you (and your staff) in the best ways to succeed online. At the very heart of the methodology is the need to focus on people and not just technology.
Naturally, change is always challenging – but it doesn't have to be daunting. With the right support and the right attitude, you can not only survive digital transformation but genuinely thrive by creating value across all facets of your business.
If you would like to find out how we can support you with any of the topics raised in this blog post or with our services including corporate leadership training, please get in touch at firstname.lastname@example.org or call on 0800 0293739.