Two important points you need to consider: enterprises want to digitally transform but most fail at the effort. If you are planning for your software to fill jobs to be done in the enterprise market for digital transformation, you need to keep both of these points in mind
- Many enterprise organizations want to successfully transform their operations from a combination of manual procedures, “legacy” on-premises software, and data center hardware purchased as capital assets into an entirely digital process. But …
- The vast majority of these organizations will fail at the attempt.
Do you need examples of how the objective of digital transformation has devolved into failure? A one page article published online by Deloitte, “Enabling digital transformation by managing culture risk” includes lots of one-liners for your review. As far as our claim a vast majority (upwards to 70% or more) of digital transformation have failed, there are many articles available online backing up this claim. “Leading Change: Why 70% of transformation programs fail“, written by Yogeshwar D. Suryawanshi is merely one of them.
Maintaining a focus on the two important points you need to consider: enterprises want to digitally transform, but most fail at the effort will help ensure you put together a plausible business plan for an effort to get your software hired by enterprise organizations determined to digitally transform their operations. If your software is offered as a service (SaaS) your plan should instill confidence in readers because you will include a projection of 70% of subscribers dropping off from year one to year two. You will also include details on your selling effort to not only backfill these lost subscribers, but add to them, reflecting growth. Since your readers might include potential investors you will want to include details on the extent of the required selling effort.
Be sure to talk to the unique costs your business will have to incur to succeed at the above effort via an inbound marketing and sales strategy. Inbound marketing and sales are not only best practices in 2020, they are also powerful tools you can use to build your business while restraining the much higher costs associated with typical sales and marketing strategies dependent, as they are, on paid advertising & outbound sales teams.
Readers of your business plan will expect to see an acknowledgement of the importance of our two points. Simply because many large, enterprise organizations in the public, private and not-for-profit sectors are looking for digital transformation does not in any way suggest they are going to succeed at the effort. The better bet is they will fail. You will need to demonstrate how your business will weather the failures to reap success.
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