If there’s one thing that 2020 taught business people, it’s this…

Posted by:Colin Goh onDecember 30, 2020

If there’s one thing that 2020 taught business people, it’s that there’s value in being prepared for anything. I don’t think anybody expected 2020 to go the way it did and it opened the eyes of many businesses that have managed to navigate through all the challenges and obstacles that the pandemic year brought.

So what lessons are there to learn from the year that has passed, and how should it affect how businesses should plan for 2021 and beyond? Here are a few big lessons we learned from 2020 that we should keep in mind in 2021.

1) Be agile and resilient – Many plans were changed in 2020 and many business systems were disrupted. Businesses that were able to overcome the challenges of 2020 were those that learned how to adapt to the business environment they were faced with and were able to quickly adjust plans to accommodate the times.

2) Create contingency plans – This is closely related to being agile and resilient and puts these two concepts into practice. In 2020, many have had to cope with the unforeseen changes that happened to the business landscape. In 2021, good business people should know better. Planning is an essential to business success but knowing what has happened in 2020, creating contingency plans that can anticipate possible obstacles and challenges is important.

3) Invest in your team – Many businesses in 2020 overcame the obstacles of the pandemic because of the dedication of the team behind the business. Strive to upskill as a team and encourage the strengths of each of the members so they feel valued. Success is not only dependent on the business owner but each and every member of the team that contributes towards business success.

4) Make better leadership a priority – Along with growth and development for the team, business leaders must also do what they can to improve and develop. If good team members are essential, so is a good leader. Getting feedback, learning from lessons and past mistakes and making efforts to upskill as a leader is necessary in these trying times.

These lessons learned will be those that will help even more business success in 2021. There are but a few days to go before the year ends. As business owners, these lessons should be what will help guide us in planning for the year to come.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyrights © Jessica and Colin