Preparing for Business in 2021

At this point, we have established that the new normal requires businesses to be adaptive, innovative and technologically conscious if they are to cope with the unexpected changes that COVID-19 has brought.

As we continue to navigate the new normal, innovation and new technologies will continue to shape the business landscape in 2021 and beyond.

Here are some of the strategies you can adopt to build resilience and retool for work now and in the post-pandemic world.

Keep Innovating

An out-of-the-box thinking strategy sets you apart from other businesses and helps you develop products that keep delighting your customers. You might be tempted to shy away from embracing new ideas and technologies to avoid the transformation process but keep in mind that if you do not disrupt your business, somebody else will.

If your innovation strategy includes digitisation and your organisation does not have the leadership to manage this technical aspect, you can outsource the role of a Chief Technology Officer.

Innovation makes your company grow, gives you a competitive advantage and satisfies the ever-changing customer needs.

As you think of product or business model innovation, have it in mind that attracting good talent and good work culture is essential in bringing your innovative ideas to life.

Better Online Presence 

In this low touch economy, having a digital profile is non-negotiable! 

Make it easy for customers to reach out to you online and make sure that all their queries are attended to on time. Your website must become more interactive, easy to use and provide necessary services such as payment gateways. Update your social media content regularly and interact more with customers.

Take a look at some of the digital marketing trends to look out for 2021.

Improve Workplace and Work Culture

Work from home (WFH) has become a growing trend in today’s work environment. While some businesses already practice a regular remote working option, COVID-19 has made WFH mandatory. 

As coronavirus terror continues, most businesses have already considered the work from home set up as a permanent feature.

To ensure that your team maintains productivity levels as they work from home, provide them with the resources that they would access when working from the office. You need to make sure that your team has the right digital tools and technology infrastructure for a seamless workflow. It is also important to train your employees in using digital tools to reduce technology rejection.

Put in place a channel of communication and ensure that you communicate effectively. Ineffective communication can be a severe hindrance to the way tasks are communicated and interpreted. For best practices, streamline your communication channels to cater for formal and informal communication at the workplace.

Additionally, set realistic expectations that align with your employees’ tasks and keep adjusting them until you find a mechanism that works for both you and your team.

Recognising that remote work can cause employees to feel isolated and possibly lose their morale, create a platform for your team that allows them to talk about different topics which are not necessarily work-related and engage them in activities that help them connect to each other beyond the confines of work.

Related reading: A guide to managing remote teams

Reexamine Your Product Vision and Product Strategy

In response to the market changes caused by the COVID-19 pandemic, you need to ask yourself, “As an organization, do we still exist for the same reasons and can we still achieve our vision using the same means?”

To answer this question, you need to reexamine your product vision and strategy.

Over time, you might realise that your product is no longer serving the purpose for which it was created and it is not meeting customer needs. If this is your case, then now is the time to take a second look at your product vision and strategy.

Don’t be afraid to change direction, keep adapting your product vision as you learn and always remember to focus on value for customers.

No one has the crystal ball to tell you what will happen to your business right now but leveraging opportunities born out of today’s crisis can help you get ready for the new year.

Talk to us and let us help you explore these opportunities to elevate your business.