5 Steps to Becoming a Technology Leader

The Covid-19 pandemic caused huge disruptions across the globe. Companies are not only looking to get back on track, but build for a better future. In the last year, long-standing norms about how we live and work have been pulled apart. Customer needs changed radically and fragile supply chains found themselves failing.
It may well be tempting to retreat into familiarity, but if the pandemic has brought anything to light – it’s been the need for a different path. Businesses will need to maintain a clear-eyed perspective and sharp focus if they want to emerge as new leaders in a world that is now orientated as digital-first.
In fact it could be said that there is no leadership without technology leadership. A recent report by Accenture stated that the “the recent rapid digital acceleration has placed technology as the cornerstone of global leadership.” It found that 91% of executives agree capturing tomorrow’s market will require their organisation to define it.
So, how does one become a technology leader? We’ve outlined 5 steps to help you improve your technology leadership skills.

As Heraclitus puts it – “There is nothing permanent except change.” Perpetual change is here to stay. If you want to improve upon your technology leadership skills, then you can’t get too comfortable. Great technology leaders have to constantly adapt so they stay ahead of the ever evolving curve.

When schools closed for virtual lessons, teachers weren’t worried about virtually teaching their students to take notes in the margins of their books. Their biggest concern was whether they would have the basic technology needed to access their virtual lessons. This set back would put many students at a disadvantage to their peers, now known as the “digital education gap.” The same concept applies for businesses and their ability to access and adopt new technologies.
A recent study before the pandemic revealed that digital leaders (the top 10% of companies leading technology innovation) achieve 2-3x revenue growth as compared to their competitors – a widening divide that Accenture calls the “Digital Achievement Gap.” Since the pandemic, the digital achievement gap is now 5x. But with an effective digital strategy in place, this can be avoided.

Successful technology leaders will not only think about their business, but the impact their business is having in a broader context. They will put humanity at the core and embrace responsibility as global citizens. This includes taking into account the climate crisis and intentionally using technology that has a positive impact on people and the planet.

In 2019 The World Economic Forum said that fewer than 10% of business models are economically viable as the world digitizes. 77% of the world’s top 10 most valuable companies (Amazon, Apple, Microsoft etc) and 70% of the $1 billion+ “Unicorn” startups (Didi, Airbnb etcl) operate a digital platform business model, yet fewer than 2% of other companies do.
B2B digital platforms enable improved communication and collaboration across vast ecosystems that are redefining industries and creating new business models. These platforms promise more inclusive and diverse outcomes, while expanding market access and raising innovation levels for the organisations that deploy them. The right platform will allow your business to fly.

Successful technology leaders reinvent the wheel using radically different mindsets and models. Don’t wait until another crisis presents itself, start creating your new normal now.

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