According to articles on business transformation by John P. Kotter (Leading Change: Why Transformation Efforts Fail) and The Boston Consulting Group (Transformation: The Imperative to Change), 70-75% of companies engaging in business transformation fail.

The scary thing about this is that business transformation is no longer a project to be undertaken when things get really rough. In today’s volatile and complex environment, transformation is imperative to remain in business. World class companies continually review and refine their strategies, operating models, organization designs, people and processes.

Those that don’t, quickly fall behind.

What can you do to ensure your business transformation efforts succeed?

1. Clearly articulate your vision for transformation—why status quo is no longer acceptable, what the end game is, and how you will get there.
2. Make sure that you have the right executive team on board and everyone on the team is aligned with your vision.
3. Deal with the “skeptics”—those who can’t or won’t get on board—aggressively. It may come down to an ultimatum—get on board or get off the bus.
4. Make sure the leaders below the executive team are aligned with the vision, understand clearly what they must do to make it happen, and are accountable to deliver.
5. Communicate, communicate, communicate. Up, down, sideways, in circles. Let me say it again—communicate!
6. Equip your leaders with the skills necessary to lead transformation—The Bailey Group can help if you are uncertain what these are.
7. Celebrate early wins but don’t stop there. True transformation can take several years (yes, years).
8. Make the necessary changes in your culture to sustain the transformation over time.
9. Lather, rinse, repeat.
10. Communicate!