The key to achieving this goal is to be proactive and flexible about change. Think ahead but also have the ability to adapt to changes in your planning in a nimble way. As an example, and when it comes to 5G specifically, the market will inevitably reach a point where there’s a lag between supply and demand. As enterprises across all sectors begin to understand what 5G is truly capable of, network demand will soar, thus stressing the supply in the system. CSPs need to model demand scenarios and think ahead to meet them – but also expect the unexpected.
Equally, and to keep up with digital transformation, telcos need to offer more than just connectivity. The good news is that they do not have to do it all by themselves, but rather can open up to an ecosystem of partners; leverage alliances in new ways; embrace more flexible approaches; share infrastructure; and implement new business models wherever and whenever necessary.
Now’s the time to work with over the top (OTT) organizations and other relevant players, as opposed to resisting them – and crucially, seek out the opportunity, look for those companies that might be successful in the future, and transform the business as we know it today or even create new business where none currently exists.
Working with Netflix or Google today would undoubtedly be more expensive and complicated than it was 10 years ago. Partnering with, or acquiring, a business is always easier and cheaper in the early stages. Therefore, telcos must dare to reimagine their business and take controlled risks to shape the future. Today, they are in a fantastic place to do so.
To read more about Future Network Now take a look at the full NextWave Journal (pdf)