3 Ways to Accelerate Business Value
I was talking with a colleague recently about the following question:
“How do you accelerate business value?”
One of the key challenges in today’s world is accelerating business value. If you’re implementing solutions, the value doesn’t start to get realized until users actually start to use the solution.
THAT’s actually the key insight to help you accelerate business value.
When you are planning, if you want to accelerate business value, then you need to think in terms of pushing costs out, and pulling benefits in. How can you start throwing off benefits earlier, and build momentum?
With that in mind, you have three ways to accelerate business value:
- Accelerate adoption
- Re-sequence the scenarios
- Identify higher value scenarios
Before you roll out a solution, you should know the set of user scenarios that would deliver the most business benefits.
Keep in mind benefits will be in the eyes of the stakeholders.
If the sequence is a long cycle, and the adoption curve is way out there, and benefits don’t start showing up until way downstream, that’s a tough sell. And, it puts you at risk. These days, people need to see benefits showing up within the quarter, or you have a lot of explaining to do.
1. Accelerate Business Adoption
So one of the ways to accelerate business value is to accelerate adoption. There are many change frameworks, change patterns, strategies and tactics for driving change. Remember though that it all comes down to behavior change and changing behaviors. If you want to succeed in driving change in today’s world, then work on your change leadership skills.
This approach is about doing the right things, faster.
2. Re-Sequence the Scenarios
Another way to accelerate business value is to re-sequence the scenarios. If your big bang is way at the end (way, way at the end), no good. Sprinkle some of your bangs up front. In fact, a great way to design for change is to build rolling thunder. Put some of the scenarios up front that will get people excited about the change and directly experiencing the benefits. Make it real.
The approach is about putting first things first.
3. Identify Higher Value Scenarios
The third way to accelerate business value is to identify higher-value scenarios. One of the things that happens along the way, is you start to uncover potential scenarios that you may not have seen before, and these scenarios represent orders of magnitude more value. This is the space of serendipity. As you learn more about users and what they value, and stakeholders and what they value, you start to connect more dots between the scenarios you can deliver and the value that can be realized (and therefore, accelerated.)
This approach is about trading up for higher value and more impact.
If you need to really show business impact, and you want to be the cool kid that has a way of showing and flowing value no matter what the circumstances, keep these strategies and tactics in mind.
The landscape will only get tougher, so the key for you is to get smarter and put proven practices on your side.
People that know how to accelerate business value will float to the top of the stack, time and again.