The new year is rapidly approaching. Are you ready to focus on growth and recovery instead of survival?
Last year many small, local businesses made changes in response to the pandemic. For some, it was a means of survival. For others, it was an opportunity to meet the changing needs in their community. Regardless of why the pandemic has had an impact on your employees and customers. So, it will also affect your business now and in the future.
The Impact of Evolving Trends
New trends, including remote work, social distancing, greater use of technology, and shorter supply chains, evolved as a result of the pandemic. But it also created a lot of self-examination and reflection for the people that live and work in your community.
What mattered in 2020 may no longer be important. Stay on top of evolving trends but talk to employees, customers, and local business owners. This will help you build a better roadmap for 2022. One with a focus on growth and recovery – not just survival.
Not All Pivots Result in Good Business Performance
Some businesses found unexpected opportunities during the pandemic. They took advantage of existing capabilities and built a different model or products to serve their customers. But not every pivot will provide long-term profitability or enhance your business value.
With the lessons you learned, a better understanding of needs and trends, and a focus on the future, identify the changes you need to make. Some of your earlier initiatives will require tweaking. Others may be doing well but would benefit from a combination of systems and technology. Some may need to be eliminated completely. The key is to look at your entire business with a fresh set of eyes and a new, positive attitude.
Is Your Business Flexible?
I think it is fair to say that the past year has taught us that business (and opportunities) can change without warning. But the businesses that were able to pivot quickly got a head start on others who couldn’t.
Smaller businesses are known for being nimble so they can change direction quickly. And the small businesses I see that do it better than others have a few things in common. They…
- Embrace technology and are willing to invest in it. This was a huge advantage when the pandemic hit.
- Appreciate innovation and realize that their employees often have great ideas to improve the business. So, they ask and actively listen to them.
- Take care of their team because happy employees create raving customers.
- Value the contributions of others and gladly give them credit. They are never too busy to say thank you or recognize their accomplishments.
As you look toward 2022, get your team engaged in planning and goal setting. Take advantage of their diverse skills and knowledge. Decide together how you will measure success. Then track and share results. Their involvement in all areas of the business makes pivoting (for any reason) a whole lot easier.
Plan with a focus on growth
Time to get out of survival mode and refocus your efforts on growth and recovery. So, take the time to start setting your goals and building your plan. Planning is easier than you think. And it will provide you with the focus and clarity you need to achieve more of what you want – in business and in life.
About Joan Nowak. As a business improvement expert, business coach, and consultant, I’ve been helping entrepreneurs turn ideas into profits for more than a decade. My whole-business approach empowers clients and drives improvements in key areas including revenue, operational performance, team development, customer satisfaction, and profitability.
Need help? My Ultimate Action Planning Guide helps you create a roadmap for success. But if you prefer to work with me virtually – and build your plan together – then check out my Action Plan 2022 Program.