LESSONS FROM 2020: PLANNING FOR 2021

Many Businesses bolted into 2020 with firm plans and optimistic outlooks. Unforgettable lessons from 2020.

All those plans disintegrated by mid-March as the focus turned from thriving to surviving for most companies. Now, as this turbulent year enters its final months, a new question lies just over the horizon.

What will 2021 bring and how can businesses be ready?

“The future still seems so uncertain and the end of the pandemic still feels a long way off, but despite that, there is a lot of what businesses can do to prepare for success in 2021,” says Adam Witty, a successful entrepreneur and the Forbes Books co-author of Authority Marketing: Your Blueprint to Build Thought Leadership That Grows Business, Attracts Opportunity, and Makes Competition Irrelevant.

In the modern era, organizations are engineered for ensuring maximum stability. The companies of the future should be designed to suit the change. As the familiar paths to ensuring business success disappear, the overall survival in the highly competitive environment would depend on the ability to learn and as well adapt.

No doubt, 2021 will come with its own unexpected twists and turns, but I am also more than confident that there will be potential.

More so, with adversity known to breed innovation, it comes as no surprise that entrepreneurs world-wide are pivoting within their businesses to navigate the challenges created by the COVID19 pandemic. Revamping business models, restructuring safety protocols, and developing comprehensive digital presences are amongst the changes businesses are required to implement in order to ensure survival.

All the unknowns make planning a challenge, but Witty says it’s possible to begin gathering hints about how the world will operate going forward.

He suggests business leaders should:

Review lessons learned in 2020. In other words, learn from the mistakes of the year. Think about what you did this year to manoeuvre through the hazards that came your way as an individual and to your firm.

It is essential to look at what worked? What didn’t? What to do differently?  “Use what you’ve learned to get your ducks in order to manage your firm in a manner that meets both your and your clients’ needs.”

Talk to your best clients. Find out what they want and need, and how they anticipate their lives – or businesses – will look in 2021, especially post-pandemic. “Learn how your services will fit into the flow.”

Do they want you to continue things virtually, or is it important for them to be able to come into your offices for a real sit-down to discuss what they need and view the options in person?

Does your solution lie in providing the best of both worlds, offering virtual visits alongside opportunities for physical interaction? Or is the right option something you haven’t yet explored?

There is nothing wrong in looking at what the competitions are doing. Look at how other industries are innovating and borrow a leaf for your firm. Review how they are reaching customers and clients today – and whether you can glean any insights about what they may do tomorrow.

Can your firm handle the unforeseen if there is a pandemic, disaster or economic downturn or if the current challenges persist much longer?

If the answer is yes, chances are you’re ready to play in a post-pandemic world.”

 

ACKNOWLEDGMENTS

https://www.globaltrademag.com/winning-the-future-what-businesses-must-do-to-prepare-for-2021/

https://www.globenewswire.com/news-release/2020/08/25/2083421/0/en/Top-21-Founders-Changing-The-Way-We-Do-Business-in-2021.html

https://www.amplework.com/business-strategies/

https://www.bizjournals.com/bizjournals/how-to/growth-strategies/2020/09/how-to-develop-a-business-plan-for-2021.html