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As concepts like cloud technology, real-time analytics, and the internet of things (IoT) continue to transform the business landscape, companies with high levels of digital maturity stand the best chance of succeeding. For businesses that rely on manual methods, this means that embracing digital solutions is no longer a choice — it's a necessity. However, with 70% of digital transformations failing to meet their objectives, digitizing your business is no easy feat. If you're serious about driving real results, this guide covers five best practices for launching a successful digital transformation — from prioritizing strong leadership to reimagining your company's culture.  Tech.co's Guide to Successful Digital Transformation: What Is Digital Transformation? Digital transformation is the process of integrating digital technologies into all areas of a business, to create fundamental and sustainable change. While the end goals of digital transformations vary ...

I'm an Entrepreneur, Supply chain expert, Founder and Managing Director at Acuver Consulting. Fear, trepidation and self-doubt. These are just a few of the feelings that can come to mind when we think about entrepreneurship. And this is especially true for those who are toying with the idea of embarking on their maiden entrepreneurial journey. However, once past these feelings of uneasiness, first-time entrepreneurs will find that starting their own business can be one of the most exhilarating journeys of their life. This is because entrepreneurs do, or attempt to do, what only a few of us can: build something from scratch. And although it might look like a lot of people today are doing this, thanks to a vibrant startup ecosystem, in truth, very few actually have the courage to look past their fears and take the entrepreneurial leap. So if you’ve managed to take this first and most important step, pat yourself on the back because it is no easy feat. And now, to plan ahead, h...

After a 30-year career as a business leader working for Intel and Google, I know the importance of acting as an entrepreneur within the walls of Fortune 100 technology companies. Known as intrapreneurs, these leaders invent from within the walls of an established business. Today, as the CEO of a rapidly growing medical technology startup, I am squarely in the space of entrepreneur. My experience has taught me that an entrepreneur’s probability of success hinges on three factors: The first is an idea that is disruptive, visionary, and delivers efficiency. The second element is a solid business plan that can be put to the test in the context of a business strategy. The third is gaining the capital to make your idea and business plan a success. In detail, here are the three elements that an entrepreneur needs to succeed. The idea: Visionary, disruptive, and efficient Visionary: The first component to a successful startup is the idea. As the founder, one needs to create a vision of ...

As you enter your first enterprise, you will likely face many challenges. It's important to understand the common mistakes made by first-time entrepreneurs so that you can preempt them. Hiring who you know, rather than who is best As a first-time entrepreneur, you may be tempted to hire people you know looking for work. Perhaps it's a friend or family member who has expressed an interest in working for your company. While this can be a good way to help out someone close to you, it can also lead to problems down the road if their skills don't match what's required of them on the job. Hiring based on skill set rather than who you know and trust is best. Not having a great product or service Even if you don't want to compete on price, which many small businesses do because they can't afford to compete on service, you still need to have something unique about your product or service to succeed. Without this unique element, your customers will go elsewher...

Opinions expressed by Entrepreneur contributors are their own. Short-term business goals are the secret ingredient to achieving long-term company goals. Short-term goals act as the bridge between the broad, strategic view of the C-suite and the focused, tactical lens of managers and employees by breaking the over-arching vision into smaller pieces. They allow employees to take on manageable workloads while demonstrating progress towards that larger goal. When setting short-term goals, you must define how, how much and who. These components are critical for turning strategic planning into tactical execution. The How: Defining objectives If the goal is the destination, then objectives are the directions. Objectives are tactical steps taken to achieve an outcome. But like directions, there can be more than one way to reach a destination. It's important to remember that unlike goals, which are fixed, objectives can be changed. How a goal is achieved is not as important as at...

Countless things can distract business owners and leaders from their primary roles. Often this is to drive sales and push their company forward. To succeed, however, you must manage and guard your time well. The key is not only getting everything done but also avoiding burnout and feeling satisfied and accomplished at the end of the day. With that said, check out these 12 tips for fresh ideas or reminders that will assist you in stepping up your time management game. And, in turn, become the most productive boss ever. 1. Pick your rubber balls and glass balls. Taking on multiple tasks at once can be detrimental to your productivity and health. Because of that, priorities are critical. And, to prioritize, you need to think in terms of rubber and glass balls. When you drop a glass ball on your team or business, you will suffer long-term consequences. You should take care of these ones by yourself if you don't want them broken. Rubber balls, on the other hand, can be ha...

Wolff Olins Myths and legends around leadership and what it takes to become a great leader are both powerful and enduring. Each generation grows up with its own version of what success looks like and what it takes to get there. Most recently, social media has fuelled the memefication for success and set the agenda in terms of what it means to succeed, including the need for speed. With the inspo quotes and life coaching offers coming thick and fast. All of which makes you wonder what part time plays in becoming a successful leader, and if this equates to becoming a great leader. The ‘30 Under 30’ achiever lists, social media influencer success stories and TikTok entrepreneur masterclasses fill our timelines, giving the impression that success should be instant and that falling behind is simply unacceptable. Meanwhile, Harvard Business Review writes this month about the traits looked for in CEOs of the future. There’s a heavy emphasis on social skills over technical know-how ...

Whether it’s a small 'fire' to put out or a full-blown PR nightmare, companies rely on their communications teams to help shape the internal and external messaging during a crisis. From crafting official responses to adjusting ongoing marketing campaigns, communications pros must be on top of their game as situations unfold. While there are plenty of tips out there on what you should say to mitigate a company crisis, there are also some words and phrases that should be avoided. Below, 15 members of Forbes Communications Council explain what kinds of messaging to steer clear of in your marketing materials during a crisis. Forbes Communications Council members share types of language to avoid using in marketing materials during a crisis. 1. ‘Always’ And ‘Never’ Using the descriptors "always" and "never" can cause more questions and investigations. Be sure you can support whatever claim you make. Conversely, remember that it’s okay to embrace the cor...

As a possible recession looms, small businesses may be wondering what they can do to be successful in yet another uncertain time. Moving forward, there are three key areas of a business — employees, cash flow and operations — to focus on for the company’s long-term health. See how your small business can succeed during a recession. How To Stay Staffed Brian Trzcinski, director of business market development with MassMutual, said business owners have to figure out ways to maintain staffing in a recession. Coming out of the pandemic, staffing issues were the No. 1 business concern. This is both in terms of losing staff and the ability to rehire staff. Many businesses, already running leaner than they’d like to be, must be able to attract and retain top talent when cash flow is tight. How can they do it? Trzcinski recommends offering intangible perks, such as flexible scheduling that allows employees to take time off or work remotely. It is essential for businesses to not...

Harsh Mariwala, founder and chairman of Marico, is a well-known name in the business world with his journey being an inspiration for all budding entrepreneurs. He founded Marico in 1987, a fast moving consumer goods (FMCG) company that now has operations in 25 countries across Asia and Africa. Since then, the company and its products have become a part of every Indian household. Encapsulating this success story is his book, Harsh Realities: The Making of Marico. In an exclusive conversation with indianexpress.com, Mariwala, who recently graced the stage of Tata Literature Live!, opened up about his book, business journey, Covid-19 lockdown, crucial entrepreneurship skills and more. Excerpts: What is the book all about, and what motivated you to write it? The book is about my own journey, from the time I was born to till today. It focuses mainly on my working life. While a small chapter covers my personal life, it is mostly about my business journey. Whenever I spoke at variou...

Business Published on July 29th, 2021 | by Sunit Nandi Overview The business world is ruled by content. Everywhere you look, content is being used by successful companies on social media, on their websites and even in search engine ads. Podcasts, blogs, articles, surveys, whitepapers, reviews, case studies and infographics have all become commonplace in the stew of media that decision-makers consume on their buying journey. Content marketing, a rare phenomenon ten years ago, has taken the centre stage in the business model of many companies. But what of conventional marketing strategies such as inbound and outbound marketing, is it time to abandon them completely? Research disagrees. Instead, companies must modernize their traditional outbound marketing strategies by including content in them. For technology companies, innovation has always been essential to success, but never has it been so badly needed in the field of tech marketing. What is content marketing? L...