2020 will forever be such a pivotal point in all of our lives. It is the year that blindsided a majority of businesses. We have either seen new businesses thrive, taking advantage of the current situation to innovate services and we’ve seen long-time businesses lost, struggling to get by everyday with less and less customers coming through the door. Whatever the case, you are most likely proceeding the year with caution. But do not be discouraged. A new year serves as a new slate. It is an opportunity to rise from your weakest points and turn them into something that matters.
Below are some ways to keep success on your side despite the unknown this 2021.
Welcome And Embrace The Change
Change is a very scary thing to most, but it is what a business-owner must face on the daily. If you’ve been in business for a while, you might have noticed that your old way of doing things such as catering to clients and serving them may be wavering along with a long list of things that need immediate attention. You have to nip these issues in the bud as soon as they arise.
If change is already happening, then best to beat it from the get-go. The sooner you react to these changes, the sooner you find solutions to treat the symptoms. So you’re best bet will always be to embrace the changes that are happening to treat the problem. One solid way to get a quicker reaction time and innovate your way through it is to implement a quarterly strategic planning and review process into your business. This rhythm in turn keeps your efforts focused and pragmatic while being able to ride the waves as new learnings come to the table.
Customers Are Your Priority
The rules of supply and demand have completely veered off over time. Product-based businesses have felt the effects of the pandemic to a great magnitude through issues with manufacturing and distribution. Service-based businesses are slowly finding out that their services are no longer in need. Not one business was safe during the global pandemic. Why? The reason for this is that a customer’s needs and the problems they need solutions to are in a constant state of change.
How do you work your way around this? All you need is to engage in conversations with clients to identify opportunities. This strategy could be as simple as asking probing questions at the end of every interaction or conduct surveys.
At this point in time, being able to stay in tune with your customers’ needs and problems is imperative. It is a way for you to be able to shift course, adapt and grow with the ever changing times.
Do Not View Profit As A Reward
We have been often misled to the notion that if you follow what you’re passionate about, then the money will also follow. News flash, it’s not that simple. Passion for what you do only provides that burn that you need in order to achieve your goals and it also brings a sense of contribution. At the end of the day though, passion does not pay the bills. A load of profit does.
You can start by focusing on initiatives that produce results and impact your bottom line. A study has found that companies must do more than just make money, they must also find a way to positively impact society in the process. This marriage of purpose and profit is a perfect example of a win-win scenario. Clients absolutely love the idea of supporting a business with a mission to impact society. Businesses can remain profitable whilst improving the community and the world.