Married To A Legacy Business Model
Lastly, real success in digital for SMB companies is rarely about providing the same products and services, just through a digital pipe. Netflix shifted from DVDs to streaming. Uber created the world’s largest car service without buying any vehicles or hiring drivers. Similarly, eBay and Alibaba made the world’s biggest retail channels without purchasing any inventory.
SMB companies that successfully “cross the chasm” of digital effectiveness often discover they need to provide what they used to charge for FREE or sell as a subscription what used to be “a la carte,“
Then monetise via advertising things to generate income streams in other ways, and rethink how they derive revenue from the value that they create.
Small to Medium-Sized Businesses that flexibly can often find that adopting a digital strategy offers more scale, revenue, and profit than the legacy approach, but it takes experimentation, an assumption of risk, and – to be blunt – some failure along the way. In today’s age, business transformation is the fastest way to grow.
