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Transformation is a project and a tool to win quick revenue !?!

5/22/2024

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​Transformation is a project and a tool to win quick revenue !?!

A Board member speaking, is that person's expertise aligned with input/ not?


After a major board meeting, myself and the company's CFO both were standing in front of a critical challenge. The board demanded rapid growth, pushing us towards quick fixes for immediate financial gains.


However, CFO and I knew that would not bring us success. We believed true transformation required a strategic, long-term approach.
Picture
Over years, I have witnessed dozens of companies crumble after pursuing short-term profits without sustainable strategies. I was determined not to repeat that mistake, CFO and I presented a bold plan to the board.


Instead of chasing quick wins, we proposed investing in innovation, developing digital services, employee development, and process optimization.


Our approach wasn’t just about the numbers. We collaborated with all departments, understanding their needs and aligning the transformation goals with the company’s core values. By fostering a culture of continuous improvement, we ensured that every change was sustainable and beneficial in the long run.


Well, it was not a smooth sail in front of the board. Board members challenged, and raised new points which helped us to rethink and optimize our plan even better.


The key factor was - In the board the person is speaking is that person's expertise aligned to their input or not?


Finally, we started to execute with the rubber stamp of the board. The results started slow but it was building up like a snowball. During the runway to form the snowball, one of the critical factors was the stakeholder's expectation management.


Particularly some board members who did not have the same lens as us. So I enabled them with proper lense, so they could realize the progress.


Over the years, the company didn’t just see a spike in profits and valuation; we experienced steady growth, improved employee satisfaction, and strengthened market position. Together, CFO and I proved that transformation, when approached as a comprehensive business process, leads to enduring success.


True transformation isn’t about quick wins. It’s about building a foundation for lasting success.
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