Take a broad view of customer demand when embarking on business transformation. Look to macro scenario-planning to help you get the big drivers of potential outcomes on the table, then create a plan that focuses on the micro, tactical execution – which will make or break your efforts.
Increasingly, incumbent organizations in industries like academia, healthcare, and government are getting to the pointy end of disruption, where they must accelerate the transition from legacy business models to new ones (and even allow potentially cannibalizing businesses to flourish.) Sometimes this requires a very deliberate two-speed approach where legacy assets are managed for cash while new businesses are nurtured for growth.
As you change or pivot your business, maintaining a strong relationship with your customers and a broader sense of connection to your community will be critical. How can you better serve your current customers with new offerings? How can you highlight the positive aspects of the changes we’re experiencing in a way that will be perceived as a benefit to them, or to the broader community at large?