Byte Data from Ricky's brain

Digital Transformation

I was attending one event talk about how to grow a startup into the right direction with digital transformation. When startup pops up, it is every startup dream to be the next unicorn (valuation of USD 1 Billion) company. The common problem is that the desire is there, but a golden question is how to become one. I am happy to participate in this event as it really does open my mind and broaden my vision. At the same time, there are lots of founders in this group who are just about to start their venture.

The three days fly really fast. Topics like corporate structure, fundraising, investor relations, capitals, and are a responsible entrepreneur. At the end of the day, becoming responsible is the key. Simply because the trust and hard earning of investors fund being trusted in the founder’s hand. Even some of them are putting their fund to buy founder dream.

What is digital transformation means?

This group of a startup, I love their focus on how to bring technology in their industry. The primary focus is a distracting market with a technology standpoint. The principle behind it is bringing traditional business into a digital platform. To equip for technology changes, before their business being replaced entirely. One good example, Amazon has caused many bookstores. Simply because the traditional bookstore is resisting to embrace reforms. In China, especially Shanghai and Beijing. They have become a cashless community!!!! To my surprise, even small street vendors using digital payment.

So the real question, what does digital transformation means? Does it just adopt technology? Or does it has something to do with creating a new way? In 1990 era, do things in computer translate to digital transformation. But in this era, digital transformation has been defining higher. It is no longer just using a system to record. In fact, how well your order can enhance your business. This is what I think digital transformation means.

Why is digital transformation essential?

You might wonder why it is crucial. Well, one question. How replaceable your business is? When Uber gains momentum, taxi, or car renting is impacted heavily. Amazon is replacing many traditional bookstores. How about banks? If you don’t have an online feature, it is a matter of time for out of business.

After all this talk, it always backs to question, are we ready for the next big thing? Well, I hope everyone in this picture achieves success and shares their story in the future.

1 Comment

  1. Tech In Asia Startup Factory 2019 - Byte Data from Ricky's brain

    24/10/2019 at 7:41 PM

    […] I can say there are two sides of the positive things that I can take from this event. One is that I can validate my ideas to many people who inquire about our product. Many challenging questions to be answered, despite that, I am enjoying this process. So I know what will be the next step to improve for my product to excel. Another side of positive things is a new customer!! What is the best way to validate your idea, if not other than getting a new customer? Onboarding customers in the conference are one of the success stories that I can share in my pitching. Check this article on how important digital transformation to your business. […]

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *