How to Set Your Business up for Success in 2021
Updated October 6, 2023
2020 has been a year like no other in history. During this year, many business owners have struggled to adapt to the new reality brought on by the COVID-19 pandemic. Most people will not be sad to see this tumultuous year come to an end.
As a business owner, your top concern should be preparing for the new year ahead and think about what you want to accomplish in 2021. Having a detailed plan of action for the new year can help your business thrive. Here are some things you can do to set your business up for success in 2021.
Use Technology to Open Up the Flow of Information
During the COVID-19 pandemic, many businesses were forced to close their physical locations. If you and your team are currently working from home, you know how hard it can be to stay productive. As you adapt to this new reality, you need to invest in the right tools to make it work. The main goal you should have when managing a team of remote workers is providing them with the information and tools they need to be successful.
One of the biggest mistakes business owners make is neglect to update their outdated and unreliable equipment. If you are still using traditional fax machines to transfer information to clients and employees, it is time to make a change. Using an online fax program is the best way to open up the flow of information and reduce the amount of money you have to spend on costly equipment repairs and maintenance. Companies such as eFax provide reliable online faxing services that are affordable. By using this technology, you can provide your remote workers with the information they need to stay productive.
Provide Top-Notch Customer Service
Some business owners fail to realize just how many options modern consumers have when it comes to the companies available to them. Taking your customers for granted will generally lead to profit losses and a reduction in the size of your audience. Rather than focusing on the financial hardships this can cause, renew your focus on providing great customer service in 2021. Being friendly and attentive can help you keep your existing customers loyal.
If a customer is pleased with the service your business provides, they will probably tell their friends and family members about the products and services you offer. These word-of-mouth referrals can help you grow your business over time. Adequately training team members is a vital component of successfully increasing the level of customer service your business offers.
Expand into New Markets
Did you realize that small businesses are responsible for nearly 65% of the new jobs created in the United States each year? If your main goal in the New Year is to expand into new markets, you will need additional manpower to accomplish this goal. Before you expand into a new market, take the time to research the need for your product or service in a particular area. Performing this type of research is much easier when using the power of social media.
Starting an online conversation with consumers in a particular area is a great way to get a feel for what they want. Ignoring the need for this type of research before expanding into a new market can lead to a lot of money and resources getting wasted. This is why you need to take the time to ensure all bases are covered before expansion occurs.
Make a Plan of Action
If you want to achieve small business success in 2021, then now is the time to start planning.