How your business can thrive despite digital disruption

21 March 2019

Key points

  • Set a clear purpose 
  • Build diverse and self-motivated teams 
  • Move fast and deliver often
  • Focus on collaboration and innovation.

With digital disruption rapidly changing the way people find, buy and review a product or service, it’s more important than ever for businesses to be innovative. Managing Director at The Guardian, Dan Stinton, spoke at one of our Connect Events - shedding light on how businesses can drive success long term by enhancing their culture.

Managing Director at The Guardian, Dan Stinton

Event highlights

How your business can thrive despite digital disruption – Connect Event Highlights with Dan Stinton

Set a clear purpose

Dan explains that by having a clear purpose, teams can collaborate and develop the right ideas. He even stresses that having a clear business purpose is more important to motivate staff than making a profit. It’s time for businesses to re-think and re-shape how they add value to their customers.

Consider The Guardian’s purpose:
“We believe people long to understand the world and create a better one. So, through clarity and imagination, we’ll make space for hope.”

In turn, they have five core values to this purpose:

  • Develop ideas, not just critiques
  • Collaborate
  • Diversify
  • Be meaningful
  • Report fairly on people, as well as power.

Build diverse and self-motivated teams

With change as a constant factor, Dan says it’s critical to have teams that can adapt to change and be self-motivated. Teams should be getting out of their comfort zone by cross-skilling and collaborating. This will mean that they’re more likely to re-imagine your product or service and pitch ideas.

“The more diverse staff you have, the better outcomes you get.”

As new technologies emerge, roles can change, that’s why it’s a good idea to re-evaluate the skills your business needs. Dan says teams should be:

  • Adaptable and comfortable with change
  • Creative and empathetic - not just technical
  • Curious and constantly discovering.

Move fast and deliver often

Now that your business has a clear purpose and your teams are ready, it’s time to hit the accelerator on delivering value. Traditionally, you might have seen projects last months (or years) before being in the hands of customers.

Dan explains that the longer your business waits to deliver, the higher the risk of launching something that’s outdated.

Dan encourages businesses to challenge their delivery pace and to develop ways to add value to customers in shorter increments.

Focus on collaboration and innovation

Dan says that it’s what you do differently that’ll set your business apart from others. It’s time to think outside the box and re-imagine what your product or service could be.

With such a focus on innovation, it’s important for your teams to keep their finger on the pulse in a world that’s distracting - this is where automation can help.

It’s time to look at how your business operates and the daily tasks your teams are involved in. Is there anything your teams are doing that’s not adding value? By asking this question, you can automate the small stuff and stay focused.

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The information contained in this article is of a general nature and is not intended to be nor should it be considered as professional advice. You should not act on the basis of anything contained in this article without first obtaining specific professional advice. Also to the extent permitted by law, Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL / Australian credit licence 234945, its related bodies corporate, employees and contractors accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this article.