No two companies are exactly alike. Neither are two digital transformations. Organizations will spend an estimated $2.3 trillion per year on digital transformations by the middle of the decade, but they will spend it in drastically different ways. Therefore, while it can be tempting to follow the lead of others (especially into the digital unknown), doing so can easily guide digital transformation in the wrong direction. Three Different Realities Consider three hypothetical companies. The first has outdated technology, so “digital transformation” means bringing the tech stack up-to-date and investing in the strong technical foundation required for a digital-first future. The second has invested in technology for years but is uncertain how to adapt its business model to leverage that technology. For this company, “digital transformation” is about finding ways to deliver and derive value in a technology-driven world. Finally, the third company has the right technology and the right business model. Still, it …