Whatever your industry, there’s no denying that 2020 has been a challenging year. The coronavirus pandemic has had an impact on all of our lives and operations, requiring us to make significant changes to remain afloat. Whilst we all hold out hope for a happier and more positive year in 2021, planning for the future can help. Below, we’ve put together some key considerations you should make to ensure your business bounces back in the New Year.
Reinvest in marketing
Businesses cannot overlook the vital importance of marketing, even more so in today’s times where so many organisations have reestablished themselves online via social media and ads. Before the end of the year, take a look through your current marketing strategy and think about ways it can be improved to reach the right customers as we enter into 2021. You could up your SEO budget, create more content for your audience, or invest in a sales team.
Have an exit plan in place
We’re not suggesting that you need to plan for leaving your business, but leaving the current COVID-19 restrictions. With vaccine trials progressing, most agree that next year we should move on from the current social distancing and mask-wearing recommendations, and as a result, the way you run your business will change once again. Being ready to adapt to new rules and regulations – especially if you rely on footfall or gathering crowds – will ensure you are ready to maximise your potential returns as soon as it’s safe to “return to normal” again.
Hand it over to the experts
Many businesses will be on a cost-cutting regime in 2021, but the truth is that some things cannot be done on the cheap. For example, if you’re a retail business or a company with office space, we recommend working with a company that offers facilities management services. Not only does it take away the everyday pressures of running a business, but it allows you to benefit from industry-leading figures who can optimise your organisation and help you perform at your best. In 2021, there’s no space for bloat or haemorrhaging money.
Identify new opportunities
The current climate offers new opportunities for businesses of all shapes and sizes – it’s just about finding them and exploiting them to your benefit. Spend more time getting to grips with your target market and understand what they need as we enter into a new year. You might have an award-winning product or service idea sitting right under your nose! Speaking to your staff is the best way – their on-the-ground experience will make it easier to find out what would and wouldn’t work, and you can use analytics and data to push through development.
Set some goals for 2022
Whether you’ve struggled to make ends meet or you’ve benefited from the current crisis, it’s time to think long-term. Where do you want your business to be a year from now? Set some clear and realistic goals for your organization and create an action plan to make it happen. It could be that you want to open a new facility, enter the ecommerce space, or take on a new member of staff. With an objective in mind, you’ll have the motivation to make 2021 work.
What are you hoping to achieve next year? Let us know and check back soon for more.
