Digital Strategy versus Strategy Enabled by Digital
Amar Pandit
A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.
May 22, 2020 | 1 Minute Read
I hear a lot about digital strategy these days, so I thought of doing a small piece on this one.
Look at the above sketch.
Do you see any difference between both these points?
There is a huge difference and understanding the difference is the first step in implementing a successful digital initiative.
Yes, you can always explain Digital Strategy (and it sounds cool). Think about it.
What comes first – Digital or Strategy?
The first thing that you need to nail is your Strategy. Yes, without an Amazing Strategy, any digital initiative can fail (rather will fail). Once you have got your Strategy right, then you should think about, how do I enable this Digitally?
Like I have said earlier, Strategy is not just about what you will do but more importantly about what you will not do.
Ask yourself these questions:
- Who is my Ideal Client and where is he?
- How many clients do I really need? How much time will I be spending with each client?
- What is my Value Proposition and How will I deliver this Value Proposition to him?
- What kind of Experience do I need to provide to my prospects and clients?
- What is the work that I can get my clients to do? Think of Uber. The client does most of the work right from booking the cab, to everything. This is just an example.
John Chambers, the legendary CEO of CISCO had said “At least 40% of all businesses will die in the next 10 years… if they don’t figure out how to change their entire company to accommodate new technologies.” This number can easily be 80% or more in our industry/profession given the pace of regulatory change, competition, and uncertainty in general.
This is time to formulate your strategy and then enable it with DIGITAL…
Similar Post
Nano Learning
The ABZ Framework
Have you heard of the ABZ framework? Before I get to it, let me share with you a part of my Investor Nano “The Next Two or Three Feet.” Anne Lamott in her book “Bird ....Read More
22 April, 2022 | 2 Minute Read
Nano Learning
Growth in AUM or Growth in Skills
What do you think is more important in the headline? Think about it. It is not a trick question. Many will say as long as AUM grows it does not matter. At least that how is th ....Read More
5 March, 2021 | 2 Minute Read
Nano Learning
The True Nature of Transformation
While this is not exactly Part II of last Friday’s Nano, it does come close. However, this week, I am sharing an interesting visual by Stephanie Harrison. She writes some insight ....Read More
8 March, 2024 | 2 Minute Read
Nano Learning
The Tim Grover Lesson
Tim Grover in his book “Relentless” shares some powerful insights and wisdom. Tim Grover was the trainer to Kobe Bryant, Michael Jordan, and many elite basketball players. Tim ....Read More
7 January, 2022 | 2 Minute Read
Nano Learning
Are you Playing Office Office?
I have seen many distributors and advisors playing Office Office. The game goes like this. We think if only I had this website or that team or that logo, I would acquire clients. ....Read More
29 January, 2021 | 2 Minute Read
Nano Learning
Changing of the Guard
If you have been to London, chances are you have seen the “Changing of the Guard” ceremony at Buckingham Palace. Millions of people from around the world flock enthusiastically ....Read More
14 October, 2022 | 2 Minute Read
- 1
- 1
0 Comments