Volta Venture

How can you create value from data?

By following a solid, strategy-led process, you can explicitly link your strategy to your data, clarify what data you have, and understand how valuable it is and to whom. You can set realistic goals for monetizing your data, and you can prove your right to succeed by testing and overcoming areas of potential failure. You can move from an unfounded assumption about the value of your data to a more informed and business-focused understanding of its value in terms of its use to current and potential customers, its standalone commercialization potential, and most importantly, its potential to improve your current business. This is the true value of data.

👉To monetize data, companies must first understand how they create value today and what their current strategy is.

👉Investment options should be developed based on improving the current business, entering adjacent businesses, or developing new businesses.

👉An inventory of the company's existing data assets should be conducted along with an assessment of any gaps.

👉The next step is to confirm the options by identifying potential customers and determining if the existing data assets adequately meet the strategic options.

👉Monetization aspirations should be realistic, and testing processes should be put in place to assess the ability to execute

👉Finally, commercial considerations as well as data management and support requirements must be taken into account when planning to expand investments.

Life has the most meaning when it focuses on helping others. It has the most meaning when work gives you clear value, peace, rest, and support.

Let's take a look at consulting. It can be based on creating slides that are difficult to understand and therefore of no use to anyone. However, as a consultant, if I focus on what we want to change and improve, the slides become a help in translating the strategy.

Everything takes on a different meaning when the help is the intention. The intention "I will do the task because I promised" has nothing to do with the desire to help, but rather focuses on oneself, on "pleasing" one's ego.

Scaling up: How founder CEOs and teams can go beyond aspiration to ascent

For many startups, the challenge is no longer raising capital, but learning how to restructure as quickly as their products or organizations can evolve. In the attached article, McKinsey has highlighted some factors that are critical to the success of companies in their rapid growth expeditions:

A structure specifically designed for growth
A company's structure is key to its success, especially as it grows larger. Founders and CEOs need to pay attention to how their company is growing and adapt accordingly. The right operating model can help a company hyper-grow.

Effective ways of working
Business decisions, performance management processes and overall governance can become more difficult for companies as they grow. Startups may need to implement more processes as they grow to better manage complexity. Cross-functional governance approaches can help hyperscaling companies foster knowledge sharing, identify dependencies and vulnerabilities, and quickly improve performance. Leaders in hyperscaling organizations should be clear about who has the final say when it comes to decision-making.

A distinct culture
In startups, culture shows up in everything from interactions to design decisions. As companies scale, the culture must change as well. Founder CEOs need to be aware of how the culture needs to change as the company grows. They can use surveys and benchmarks to decide which parts of the current culture should be retained and which should be eliminated. Founding CEOs need to communicate why the company is growing and changing its culture. This can be done through town hall meetings, forums, or even during the onboarding process of new employees. Employees who exemplify the cultural values can be rewarded in a variety of ways, such as financial perks or extra days off."

Build leadership skills
As a company grows, a deliberate approach to leadership development is needed throughout the organization. Team sprints can help leaders and teams collaborate to develop an operating model that balances the needs of "growth leaders" and "operational leaders" An Indian online meal delivery platform has developed a leadership development program targeting the company's top 140 members that includes 360-degree feedback and one-on-one coaching. Through this program, the company was able to build agreement among managers at various levels on priorities for growth, and participants reported significant personal growth.

Read more at: https://pos.li/2mhvnj

Scaling up: How founder CEOs and teams can go beyond aspiration to ascent For many start-ups, the challenge is no longer about securing capital--it’s about learning how to restructure themselves as fast as their products or organizations can evolve.