From the course: Reinventing the Product (Blinkist Summary)
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Digitizing your business
From the course: Reinventing the Product (Blinkist Summary)
Digitizing your business
- [Narrator] Blink number five. Digitizing your core business should be a key step on your roadmap to success. Now might be a good time to put everything together into a clear roadmap for transitioning into a successful product as a service company. There are seven key action points on this roadmap. First is to define your vision and the value you're offering. What kind of experience is your product providing? Be clear about this, and know precisely the kind of connected product you're selling. Second is to digitize your core business. This means enacting all the shifts, pivots, and structural changes we've already gone over. This can sound like a costly step for legacy businesses that are used to doing things in a traditional top-down way. Fortunately, the authors have found that implementing a digital transformation program usually ends up reducing costs, meaning that the transition effectively pays for itself. Third is…
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