Business Futurist Marvin Dejean was interviewed by AdvisoryCloud on 06/20/2019 as part of our Featured Advisor Interview series.
AC - Tell us more about your main areas of expertise for being an advisor?
MD - I help legacy companies define and execute a strategic roadmap for digital transformation. This entails developing a disruptive strategy that takes into account growing technological trends, social and demographic shifts, and the changing competitive landscape. I also help them incorporate new ways of working through new methodologies like agile, design thinking, systems thinking, team dynamics and change management. Lastly, I help companies develop and create business model innovation through experimentation by building prototypes that lead to truly understanding the customer experience and the ecosystem economy.
AC - Describe your main motivation for being an advisor?
MD - My main passion for being an advisor is in helping legacy companies "cross the chasm" of digital transformation. We are seeing the largest scale of transformation in human societies from the past one hundred years. The rate of change is only accelerating, but many entrepreneurs are at a loss on how to change their business model and prepare their employees for the new demands of a digital economy. My goal is to help those companies who are seeking a realistic and robust strategic roadmap for transformation create and execute their business model for the future.
AC - Elaborate on the types of situations, challenges or decisions, you feel you could add the most value to as an advisor?
MD -My expertise is usually sought when companies begin to experience a disruption in their sector or their core business. As new competitive threats like Amazon, Google or Facebook or any agile competitor enter a sector, companies react quickly because they know disruption and challenges are coming their way. New technologies, such as blockchain, IOT, and Automation also create market pressures that force companies to adapt to shifting customer expectations and new business models that can create operational efficiencies. Finally, companies find that their biggest challenge is not incorporating new technologies or even changing their business models, but rather mindset shift. Helping employees and management work differently and adopt new approaches such as incorporating customer feedback in product or service development is the toughest challenge in digital transformation. I help companies see the "big picture" of digital transformation and then create a step by-step-process in executing that plan.
AC - Do you see any disruptive trends on the horizon in your industry or position?
MD - The truth is that disruption is coming for every sector and every industry in the market. There isn't a sector that will not be touched by the digital economy eventually. From small companies to not for profits and even governmental agencies will all have to adapt to a new reality. With the rate of change accelerating, my business model's shelf-life is probably five years at best. Once the majority of companies gain an understanding of digital transformation, their needs will be different and they will seek help with growing challenges such as helping employees work efficiently with AI and robots for instance. In the 21st century, static business models will not last decades like before. Instead, a constant reiteration and repositioning of a company's value proposition will become the norm. Companies will continually have to adapt to the rate of change and innovation taking place outside of the organization more than ever.
AC - Tell me about the most impactful project or decision you’ve been involved in as an executive.
MD - The biggest reward of my job is helping companies and organizations pivot into a new framework for the 21st-century market. I help many companies gain a true understanding of the opportunities that lie ahead by showing them the results of incorporating change in their current business model. One of those experiences has certainly been in helping a large banking client adopt agile principles and incorporate design thinking in their product/service delivery. The pilot project culminated with 8 teams working on specific internal challenges that resulted in innovative and unique solutions. Prior to the agile approach, these projects would have languished for over a year with very tepid results using a waterfall approach. When I can help companies understand and execute new models for servicing their clients or tap into the innovative skill of their employees, it is a rewarding process. Each company that survives and thrives in the new economy is an opportunity for employees to keep their jobs and learn new skills as they grow.
If you are interested in speaking with Marvin about this topic or others, you can book a meeting with him through his AdvisoryCloud profile here: https://www.advisorycloud.com/profile/Marvin-Dejean