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Here Are 4 Strategies You Can Use to Build Your Business in 2021 Featured

Here Are 4 Strategies You Can Use to Build Your Business in 2021 "Tattooed woman with laptop"

The effects of 2020 will be in our minds for the rest of our lives. It is a year that got many businesses, small and big unawares and took some of them off the market. While we have gotten through the most challenging phase, uncertainty remains. In some areas, some businesses remain closed while others opened a few weeks ago. Planning for the future is becoming increasingly challenging as we don’t know yet when things will come back to normal. Consequently, business owners are having a rough time developing a growth strategy for 2021.  As such, I have listed down some strategies you can employ.

Here are some few strategies that can help you build your business strategy for 2021:

  • Embrace change

Perhaps you have heard it somewhere that the only consistent thing is change. As consistent as it is, change unsettles most people and often occurs at a frightening pace. Although it can be difficult to cope with, capitalize on new ways of doing things and make it your competitive edge. After the pandemic, the old ways of getting clients or selling items might change forever. We have already seen many brick-and-mortar stores going online. As such, stay ahead of the game and react to the changes faster. The best approach is to embrace change. For example, ask yourself questions such as:

  • What would disrupt my business this year?
  • How can I stay ahead even after these changes?
  • How will the business be relevant?
  • Extend the schedule for product launch

Many projects were cancelled in 2020, and the same trend might continue in 2021. As a business owner, look keenly at your product launch schedule and extend the launch dates if you have a doubt. Use your experience to see how your product launch will benefit your enterprise. Where possible, assume factors such as factory shutdowns, lack of raw materials and illnesses will still affect your operations and expand the timeframe. The extension will also help you make strategic decisions regarding labor, marketing and others.

  • Prioritize on customer needs

Customers are the ones that keep any business running.  As such, always stay in touch with the demands of the customer and change or tweak some things to suit their desires. Changes in customer needs have left businesses -mainly those who fail to see the changes- struggling. Since the customer needs and their problems are continually evolving, find a way of addressing them if you want to stay relevant. Furthermore, provide valuable resources for your customers that add value you deliver to them. Provide options for things such as financial assistance that can help customers buy items or services.

  • Learn from the past and present

Although 2020 was a year of suffering, the challenges faced can be used as valuable lessons. Look at the mistakes you made in the past as an opportunity to improve. For example, failure to embrace digital transformation resulting in losses during the pandemic can be useful for you to develop a robust digital strategy that will allow you to compete better in the future. If you had not moved from traditional paper-based systems, perhaps it is now time to transition to the digitized workplace for better service delivery.

  • Develop a multi-plan approach

As the pandemic continues, the best way you may continue thriving is to develop a multi-plan approach. Have backup plans for your business and establish contingencies that you can count on if you encounter specific challenges in 2021. Develop achievable and strategic responses to help you address issues such as the ongoing health crisis using the past year's experience.

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Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

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