Make a business plan
The steps to achieve your vision
Why do I need a business plan?
Once you have outlined a clear vision and strategy for digital transformation, the next step is to build your business plan.
A business plan is essentially your roadmap, outlining the steps needed to achieve your vision. You should approach it like an instruction manual, breaking your business plan into achievable and necessary steps.
Five must-have elements
to include in your digital transformation
Although making a business plan is an important part of the digital transformation journey, it doesn't have to be a difficult one. Use this checklist to ensure your plan covers what matters most.
Where should I start?
When developing a business plan, it isn’t necessary to start in any one place. In fact, trying to do this in a linear fashion can lead to analysis paralysis. Start a plan and fill in the gaps of what you know.
For example, the global disruption caused by COVID-19 and the subsequent lockdown may have expedited the need to better enable remote working or student self-service. Or you may know you have to decommission a particular piece of technology by a certain date. Add that date into the plan, then fill in around it, outlining what needs to happen prior to that, and after that, in an ongoing nature.
Often it can be easier to work backwards from a compelling event, or a moment in time when an action needs to start.
Do I need to measure and benchmark?
It is important to break down a business plan into discrete pieces of work that can be defined and measured. And unless you benchmark at the outset, you won’t be able to measure the result or define the ROI post-transformation.
Be sure to break down your project into mini-projects or sprints that aren’t too long. If they are, break them down further into stages. Long projects run the risk of becoming stale, and delays are easy to hide within long timeframes.
What should I measure?
Your measurement metrics will vary according to the scope and intricacies of your digital transformation program. To determine your metrics, you should define what success looks like from the outset and how that will be measured.
It’s good to take a holistic approach involving all parts of your organisation, as the leadership may have a different view on what they want to measure from each department or faculty.
Don’t forget to review the project after you complete each stage so you can learn from it - this is key to not repeating mistakes, or to ensure you leverage great work for other projects in flight.
Ready to learn more?
To take advantage of the opportunities SaaS ERP can offer your institution, complete the form to speak to a SaaS transition expert.