A digital world is very small and available on a touch of a button vis a vis reaching to each corner of physical world is not easy and require huge physical Infrastructure.
To build a digital business one need to analysis below steps before making a proof of concept. These are basic ingredients require, which we call D’s of digital plan.
- Digitalization – A business model needs to have flow of operation in digital format i.e. It is flow of information need human intervention to complete a service. For e.g. – an eCommerce needs delivery boy to pick and drops goods but e- commerce is digital business.
- Dematerialization – It empowers customer to enjoy the service without owning that. For e.g. – enjoying car facility, I don’t need to own a car if I can have uber.
- Democratization – Available to everyone irrespective of income group. Flipkart is giving similar experience of shopping to all customers across all geographies.
If we are evaluating these D’s in our business model, then there is a possible of making a business scalable, but scalability always doesn’t enough to sustain so we need profitability which I will write in next article.