Top 4 Mistakes to Avoid When Digitally Transforming Your Business | In the News

Changing or growing as a leader is a bit like trading out a scooter for a motorcycle — it allows you to personally go further, and do so faster, than if you just maintain the norm. The same kind of power-up happens to your business when you allow the entire organization to transform.

Do businesses get their transformations right 100% of the time? Not even close. Companies wasted roughly 70% ($900 billion) of the $1.3 trillion they spent on transformation initiatives in 2018, mainly due to communication breakdowns. An Everest Group study further found that 73% of companies failed at providing any business value from the transformations they initiated. With digital transformation spending predicted to increase to $3.3 trillion by 2025, the loss is poised to only get worse.

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