Depending on the type of business that you run, 2020 was either the boost that you needed or a complete disaster. Around the UK, there was a mixed experience of the COVID-19 pandemic in the business industry. Hospitality and brick-and-mortar retail businesses were all but doomed as lockdowns and local Tier restrictions led to several temporary closures, while on the other side of the coin, online retail and online service businesses have been booming throughout the year. No matter your experience with COVID-19 and your business, if you’re determined to make sure that 2021 is your year in entrepreneurship, here are some ideas to keep in mind to take your company to the next level.
Get a Strong Online Presence
If you haven’t already, now is the time to start leaning more heavily on the online side of things. This year, we’ve seen a huge uptake in businesses going online, with companies that have been reluctant to make the move forced to do so in order to survive. Business owners have come up with all manner of creative ways to keep their businesses going online, particularly those in industries where service is predominantly face-to-face. For example, beauty and personal care businesses have been selling packages to customers online to get their favourite treatments at home, while local restaurants have pivoted to offering a take-away service. 2020 was the year of the online business – and that doesn’t seem set to change anytime soon.
Improve Your Business Acumen
Have you got some spare time on your hands due to the pandemic? Are you in between business ideas or simply want to get your teeth into learning something new and improving your business skills and knowledge? Online learning has become more popular than ever before over the last year, and there is a huge range of programmes available for business owners looking to improve, such as this doctor of business administration course that you can get from the comfort of your own home or the office. Going into 2021 and beyond with fresh business knowledge and a more updated outlook on the industry will certainly work in your favour in these strange times.
Improve Your Disaster Recovery Strategy
If there’s one thing that most businesses have learned from 2020, it’s the importance of being prepared for a disaster. And while most of us are certainly hoping that there aren’t going to be any more worldwide disasters any time soon, it’s important not to rely too heavily on that hope. Disaster can strike a business at any time, and the better prepared for it you are, the easier it will be to bounce back. Now might be the time to actually look at some of the worst-case scenarios and put a plan in place for anything bad that could happen to your business from a data breach to another pandemic. Once you have a solid plan in place to follow, the situation is much easier to get back in control of if the worst does happen.
Build Your Business Network
This year, many business owners would not have been able to survive without the support of their business network – from connections on LinkedIn who have been able to put business owners in touch with new clients, to other business owners offering advice, resources, and even services designed to help struggling business owners get online and manage the situation in a short time frame. While in-person conferences and networking events might be out of the question for the foreseeable future, there are plenty of LinkedIn and Facebook groups, forums, online discussion boards, and other virtual spaces where you can make new connections in your industry and beyond.
Consider Going Global
Have you been one of the lucky ones with a thriving business throughout the pandemic? If you offer a service or product that has been in high demand throughout 2020, it might be worth considering the option of taking your business international. One of the best ways to do this is with the support of an international PEO (professional employer organisation) who understands how business works in the country that you choose to trade-in and can help you get set up with a bank account, registering your business, hiring employees, advertising and more. Bear in mind that since Britain has now officially left the European Union, trading in an EU country is going to look a little different from 2021 onwards.
Pivot Your Business Model
If you’re on the side of business owners who’ve not had the greatest year in 2020, this year might be the one where you consider how you could pivot your business model to achieve better success. The sad fact is that due to the COVID-19 pandemic, no matter how great your brand is, if it’s hit with lockdown restrictions, there’s very little that you can do about it. Consider if there is anything that you can do to continue offering products or services to your customers in a way that is COVID-19 safe. For example, if you are a personal trainer, you might not be able to work in a gym or visit clients in their homes in Tier 4 restrictions or national lockdown, but you may be successful offering virtual exercise classes or one-on-one sessions with clients online in their own homes.
Think Outside the Box
Finally, 2020 hit business owners with challenges that they were not expecting. This year, we’re all more prepared for what is to come. And while there is plenty of hope on the horizon thanks to a new vaccine, we still have a long way to go before we can finally get back to life – and business – as usual. This year is going to require many business owners to think outside the box, whether that involves offering a new selection of products and services that will fare better in these times or starting a new business altogether to take advantage of the growing demand for certain products and services like PPE.
How will you take your business to the next level as we continue battling COVID-19 into 2021? We’d love to hear from you in the comments.
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