- How We Do It
At ProductStack, we help business executives make sense of the technology landscape and find opportunities to innovate, develop more efficient business operations, and build a customer-centric business. And it all starts with a sound digital strategy.
Start by documenting your current business model(s). Then analyze the market and competitive landscape to understand the key challenges and opportunities facing your company.
Frame a vision that succinctly communicates the overarching goal for the company. If you already have a vision, then this is a good time to revisit it and evaluate if it's still clear and inspirational. Once defined, it will act as the 'North Star' that guides your team's strategy and execution.
Based on your company's vision, define the business objectives and key results (OKRs) that your company will pursue. While the objectives are qualitative descriptions of what your company wants to achieve, key results are quantitative measurements of your progress towards those objectives.
In this step, assemble a cross-functional team to come up with ideas that will help your team achieve the objectives or key results (OKRs). Start coming up with ideas by asking these questions:
Prioritize these ideas based on business value, effort, time-to-market, and risk levels to uncover the highest priority opportunities.
Armed with a prioritized opportunity backlog, sequence your opportunities to create a digital roadmap. This is where you have to assess the right cadence for your organization (based on the required investments and change management impacts) and balance it with business needs. While you shouldn't start more initiatives than your company can handle, you cannot be too conservative either.
There you have it! This is ProductStack's Approach to Digital Strategy. We hope that you find value in our approach and embrace it so you can build a more competitive and profitable business. But remember, digital strategy is just the first step, the real work is ahead of you - disciplined execution. All the best!
If you want to learn more about digital transformation, check out our "Comprehensive Guide to Digital Transformation"
Participate in our Digital Strategy Workshop and in just one week, walk away with a roadmap to transform your business. You will achieve more in one week than you normally do in months.