The Digital Reality Show

How to do digital transformation for ecommerce

ECommerce is a part of everyday life. The number of transactions that occur online is significantly higher than the number of transactions that occur face-to-face. It has become an essential function of businesses, particularly amid the global COVID-19 pandemic.

What is eCommerce Transformation?

Ecommerce companies have the unique ability to establish a software storefront while leveraging other parties to make, stock, transport, and deliver their products. Typically, eCommerce companies are thought of as businesses that sell a majority of their products or services online. ECommerce businesses differ from pure wholesale distributors, manufacturers, or retail stores while retaining traits of each of these legacy industries. They may rely on third parties for their manufacturing needs and may not have their own warehouses, shipping trucks, or inventory. To make matters more complex, eCommerce businesses may be a combination of the above, making some products, while sourcing others; stocking and fulfilling some products while relying on third-party logistics or vendors to stock and fulfill others; some may have a brick-and-mortar location and still others “stock” their inventory inside of big box stores until the point of sale.

Digital Transformation for eCommerce Businesses

ECommerce digital transformation should be more exciting than scary. Many businesses can explore digital transformation possibilities with eCommerce functionality. While digital transformation may seem like it is meant to ease work for business users, it really is the framework for reimagining customer experience, and that usually starts behind the scenes with better software, including eCommerce and ERP.

Digital transformation facilitates company-wide knowledge and understanding of the processes that are taking place across the organization. Within a digital environment, staff can leverage real-time information for enhanced decision-making across core business processes. As for the customer, digital transformation may be as simple as upgrading shoppers’ access to products across all your channels in one shopping experience. In this scenario, eCommerce website software, as well as inventory, accounting, and order, must all integrate seamlessly to ensure a great customer and worker experience.

But digital transformation for eCommerce businesses isn’t reserved for product-based companies. Service businesses can enjoy the benefits of digital transformation, too, even if they don’t have a product to manufacture, ship, and deliver. Offering reservations for attractions, accommodations, vehicles, or restaurants via a website or app broadens a company’s reach while enhancing the customer’s ability to do business with you. Yet there must still be an integrated software interface that presents available options in an elegant way that your customer will want to interact with. Layering an eCommerce application (like AirBnB or Uber) over top of a traditional service (like vacation rentals or taxis) can transform a legacy business into a brand-new enterprise capable of reaching new markets

What is a digital transformation roadmap & 5 steps to creating one

What Is a Digital Transformation Roadmap?

A digital transformation roadmap is a plan that moves your organization from Point A (using your current digital processes) to Point B (using new digital processes). Think of it like taking a road trip — you know where you are and where you want to go, but you need to map out how you’ll arrive at your destination. 

Your digital transformation roadmap helps define and manage the initiative. It provides structure to the migration from one tool to the next — including everything from technology, people, and processes — to ensure a successful transformation.

The term “digital transformation roadmap” is tossed around a lot in enterprise businesses, but advice on how to actually deploy one tends to be unnecessarily complicated. 

“Establish a successful process that will address the top-of-mind needs of your unique organizational environment” really means “find what works for your company and create a plan to make it happen.” 

Building and acting on a digital transformation roadmap can actually be quite simple — you just need to establish the basics first.

Digital transformation from a Caribbean context - The what, the why, the how

What Does Digital Transformation Encompass?

Digital transformation is the process of using digital technologies to make new business processes, culture, and customer experiences or to change the ones that already exist to meet changing business and market needs. Digital transformation is the process of rethinking how businesses work in the digital age.

It goes beyond traditional jobs like selling, marketing, and helping customers. Instead, digital transformation starts with how you think about customers and how you interact with them. As we switch from paper to spreadsheets to smart apps to run our businesses, we have the chance to rethink how we do business and how we interact with our customers.

Small businesses that are just starting out don't need to set up their business processes and then change them. Your business can be ready for the future right from the start. Sticky notes and handwritten ledgers are not a good way to run a business in the 21st century. You can be agile, flexible, and ready to grow if you think, plan, and build in a digital way.

As they move toward digital transformation, many companies are taking a step back to see if they are really doing the right things. 

Digital transformation begins and ends with the customer.

The Law of Diminishing Intent - Why Ideas Fail before they start

Today’s episode is on “THE LAW OF DIMINISHING INTENT”

 

A successful entrepreneur must be driven, ambitious, and visionary. They're the reasons why business is constantly on our minds. Even when we're not at work, we walk into a coffee shop and see something innocuous that inspires us to start a business. We go to a conference and gain insight that goes beyond the facts offered. To put it another way, we see possibilities where others do not.

 

When Richard Branson founded Virgin Airlines, he did exactly that. The flight he was taking to the British Virgin Islands was canceled due to a lack of passengers. So Branson rented a jet and flew around filling it up. An airline was born as a result of this. That's what I call action!

 

The Law Of Diminishing Intent and Its Consequences

 

This could be due to the Law of Diminishing Intent, which holds that "the longer you wait to do something you should do right now, the more likely you are to never do it." Jim Rohn came up with the idea, but it was John Maxwell who wrote about it in The 15 Invaluable Laws of Growth. The Law of Diminishing Intent is a crucial factor in an entrepreneur's success. We live in an era of invention, technology, and speed, where being first to market is critical in every business. If you don't act on your ideas, you'll find yourself staring up at the sky as your competitors fly by.

YOU HAVE TO TAKE THAT OPPORTUNITY OF A LIFETIME WITHIN THE LIFETIME OF THAT OPPORTUNITY

It is moments of clarity that change our life. Times when we say, “never again, I’ve had enough, I cannot live like this anymore.” When the pain of our situation forces us to stop engaging in self-destructive behavior. A decision not married to action is merely a wish. True decisions change our behavior.

Change is easy when you finally realize that continuing along the same path you’ve been on will only cause you misery. It’s easy to break bad habits when you equate more pain than pleasure with doing them. Developing good habits is easier when you focus on keeping your commitment small and being consistent. If you aren’t consistent, then it’s not a habit, and habits are the only behaviors capable of transforming your life. They shape who you are and who you’ll become, not your goals. Everyone has goals. What separates us is our habits.

Thank you for listening to the digital reality show. From your boy, Ocey phillips to you feel free to share this episode with a friend in need and feel free to look out for digital reality show  or ocey phillips on all channels.

Entrepreneurship & why you should not walk the path alone - with Ocey Phillips

There's nothing anyone has ever done to be successful that they did alone

The Most Successful Entrepreneurs Don't Do It Alone

Entrepreneurs need to stop getting hung up on how to do things in their business and start thinking about who will do it for them.

 

What is the No. 1 thing you can do as an entrepreneur to massively expand your capabilities, increase your revenue, and build your ideal lifestyle?

It's quite simple, actually. Stop doing things yourself.

The most common mistake entrepreneurs make is that they get hung up on how they're going to do something. They then hit a roadblock when they realize they don't have the capabilities, know-how, or resources to do it themselves.