On August 10, 2015, Google’s announcement about the birth of Alphabet shocked the entire technology industry.
Google, along with it's other companies, is no longer an independent company but has become a subsidiary of a new holding company called “Alphabet” with the domain abc.xyz.
This landmark change is key in Google's continued evolution, but why does it matter to all of us? Does this signal a change in other big tech companies? Below is some insight as to the why, what, who and how that can also be applied to your business.
What Was the Need Behind the Change?
Consumers have changed the way they purchase and consume services and products.
Google (or should I say Alphabet) aimed to address the evolving needs of the users. The new Alphabet embraces bigger opportunities and a more risky yet ambitious line of business, which will encourage innovations that improve the lives of millions.
Furthermore, Google's restructuring aims to get rid of the confusion between Google as a business and Google as a digital marketing innovation. It also aims to provide the transparency that has been an issue over the past few years.
By adopting segmented reporting for Google and their Internet products, plus the other non-internet business of Alphabet, businesses—specifically shareholders—will have a glimpse of how the company is doing, including Google’s efforts to improve revenue.
Related Article: What Can You Learn From Google's Reorganization?
Lessons From The Alphabet
Alphabet's creation is one that businesses can take lessons of in their own way. In the close race towards the finish line, businesses should learn to capitalize on these factors to get ahead of the race.
Alphabet has nailed the three important factors that businesses must learn to control. Let’s take a look on each and let’s see how you can leverage these factors for the win.
Lesson 1: Initiate The Change
Way back in history, Google’s only aim is to organize the world’s information, and they have secured their place as a leader in search and internet industry. But they didn’t stop there. They began developing different products that were a far cry from their main internet products.
The birth of Alphabet is a sign that Google refuses to stop innovating, and rather than adapting to change they want to initiate change. They have taken control of the situation and made a big change for themselves and for other people.
For businesses, being proactive is critically important. The truth is, challenges and problems can be easily solved or even avoided if you stop reacting to them. By being proactive, you cultivate a strong business foundation which will help you take over the situation to minimize problems and challenges.
How Can You Win This?
To start your own big change, you have to first answer the following questions:
- What do I want to change?
- Why change?
- How am I going to achieve it?
These are your goals, purpose, and process, respectively. Once you already know your goal and purpose, materialize them with actionable processes and tasks with trackable results. Your vision must be followed by execution to make it happen.
Lesson 2: Take Risks
There is no doubt that Google is doing their thing pretty well. But the question is: why do they need to get themselves involved in other more risky lines of business when they are already dominating the internet space?
For one thing, Google is fearless and secondly, they want to stretch their boundaries even if the future is still hazy. The future of Alphabet is unpredictable, yet Google never holds back. With this new parent company, they hope to explore the full potential of projects without being held back by the constraints of an Internet company.
Taking risks may be counter-intuitive but it is the only way to move forward. Although the future holds no promises, it is the only way to know your full capabilities and hidden strengths.
How Can You Win This?
Taking risks is giving blind trust that your business can pull it off. There are three crucial steps you can follow in taking risks for your business.
- Create a plan. Before you take the risks, you have to first think it through. Weigh things out and set goals. Do the pros undermine the cons? If your answer to this question is yes, then you are ready to take the next step.
- Create plan B. When you take risks, the chance of success is equal to your chance of failure. When it seems that things are not working, be ready for plan B.
- Stay Committed. Dive in and stay committed. As entrepreneurs, you have to be responsible in your actions. Organize your tasks very and follow necessary steps. Above all, stay accountable.
Related Article: 3 Major Marketing Fails, Risks, and Fixes
Lesson 3: Evolution And Revolution
Google keeps redefining the industry in order to continue improving their service and the experience of the user. The birth of Alphabet will provide the company with a more diverse way to expand the business. It inspires innovations and provides the venue to do so. Google's present and future products revolutionize the way of doing business online, but Alphabet's emergence allows Google to dominate in other arenas, too.
As a business, you aim to stay on top and thus provide the best products and services possible. Although having the best products and services may take your business on top, it will not keep it there. You need to provide consumers with something with a great impact that can revolutionize their way of living.
How Can You Win This?
Combine lessons one and two. If you want to bring impact to your industry, you have to initiate change and then learn to take risks.
Furthermore, a continued pursuit of innovation plays a crucial role in improvements. If you think less about your business and think more about your consumers, you will be able to come up with the right strategy to bring reform for the betterment to the lives of many.