As 2020 comes to an end, a key question I think many people will be asking is how can they ensure their business is well-positioned in this post-pandemic world in which we find ourselves.
The pandemic is an unprecedented crisis which no one could have ever predicted. Often it is the companies who maintain a focus on the future and innovation who prosper once the crisis has passed. Historically, many successful companies have been born out of periods of disruption or recession. Disney, Uber, and Airbnb are just a few.
Something which has drastically changed during the pandemic is consumer behavior. For example, in the United States, 40% of current online shoppers made their first online grocery shopping purchase in March. I think we will continue to see consumer behavior changes throughout 2021 as a vaccine is deployed. During these changing times, I feel it’s important for businesses and entrepreneurs to keep looking forward while maintaining an offensive mindset.
What can we do as business owners to stay relevant and identify new growth opportunities that the post-pandemic world will provide?
Know What You Know
Take time to acknowledge what you know to be factual information. Identify areas where you may not have all of the facts and need to seek them from a reliable source. It’s important to remember it is never a sign of weakness to acknowledge that one does not know something, it’s actually a sign of strength from the very best leaders.
Focus on the Future:
The start of a new year is an excellent time to revisit your company’s purpose to ensure that it’s still aligned with your goals and is understood by your customers. Being able to embrace change and look to the future is a critical step as we enter 2021.
Identify Customer Needs
Spending time understanding customer behaviors and how they may create new business opportunities is important. Businesses who succeed in this exercise can possibly launch new products or services.
Whatever challenges we face, we must keep going and, God willing, we will come out on the other side. Take a moment, celebrate, breathe, and realize those periods of uncertainty shape who we are as individuals.
Investing in the Future
Now is the time to invest in the future either through your business or through your customers. Identify areas where new business opportunities may exist and develop a plan to achieve your goals.
Staying alert, remaining present, and anticipating the changing needs or wants of your business and or customers will be a measure of success in the post-pandemic world.