The COVID-19 recession is among the deepest and most globally impactful since the culmination of World War II. As the global economy shuttered and contracted by nearly 3.5%, businesses were left with little in the way of hope and optimism. Thankfully, mass vaccine production has set the global economy back on track for a return to normalcy. With this return to normalcy, business owners have the opportunity to prime their companies for success.
1. Cultivate a Mission Statement You Believe In
We have never lived in a more consumer-oriented society. The internet has become the great equalizer and now consumers have more power than ever. This is reflected by one very interesting study, performed by Cone/Porter Novelli in 2018. The study would reveal that nearly 78% of Americans believe that companies must endeavor to enact societal change as well as make money.
Put plainly: consumers expect corporations to actually stand for something.
Take a moment to look at your business, what you stand for, and what you hope to accomplish. Find a message that you can underscore and share it with the world. Purpose and profit must intersect in 2021 to maximize the potential of your business.
2. Show Your Team How Important They Are
With a return to societal norms, the economy is opening up and workers are returning to the force in droves. While employers are certainly enjoying the opportunity to pick and choose their favored candidates, there has been a swing in power dynamics towards the labor force. What does this mean in a practical sense? It means that businesses have to be a little savvier when it comes time to bring in and retain talent.
Invest in your business by tailoring appreciative outreach initiatives towards your employees. One of the leading reasons for employees to depart from a place of business is a lack of mutual respect. There are various ways to improve workplace conditions for your employees while also showing appreciation, all without breaking your bank account or dismantling your business.
Here are a few of our suggestions to use as a starting off point.
- Give Your Employees Purpose — More than just another member of the team, your employees are pivotal team members in the machine that is your business. Feeling unfulfilled and without a purpose can lead to a stagnant workplace. Reiterate your employee’s value and underscore the importance of their tasks within the framework of your company.
- Focus on Team Building — There are many fun ways to engineer authentic and organic team chemistry within the office. Social events, lunch parties, and even team games can all inspire your colleagues to connect, grow, and build toward something better.
- Host Social Gatherings — A poll by Gallup revealed that co-worker relationships correlated strongly with positive office dynamics and employee satisfaction. Organize optional social gatherings both in and out of the office to inspire continued team confidence.
3. Prepare For The WORST Possible Outcomes
In business as in life, there are few reasons not to consider preparing for the worst possible outcome. Whether we are saving money for a rainy day or eating our veggies to ensure against an unhealthy future, an ounce of preparation can count for a pound of repairs. The global COVID-19 pandemic was a firm reminder that anything can happen at any time. Companies that had invested in preparation for the pandemic were able to weather the storm while others were unfortunately left behind.
While we can never guess when the next global pandemic is going to happen, our companies can prepare ahead of time for anything. Sit down with your team and network the biggest potential hurdles that your company may face in the coming years. By preparing ahead of time and detailing emergency response plans, you won’t be taken unawares when the time comes to act.
We can only enjoy calm seas after paddling through a storm. Prepare for the weather before it arrives and your company will stay afloat!
4. Solidify Your Online Strategy
Internet marketing is as much a part of today’s business strategy as product creation itself. Internet marketing allows businesses to connect directly with clients that are predisposed to purchase its products. Put plainly, having a solid online strategy is absolutely integral to success in 2021 and beyond.
How can you prepare and solidify your online strategy in today’s post-pandemic world?
- Hire a Social Media Manager — According to a study published by Statista, there were nearly 3.96 billion people active on social media in Q1 of 2020 alone. A study by GlobalWebIndex revealed that each person spends roughly 2.5 hours daily between social media and social messaging. With so much interaction taking place in the digital sphere, make sure that you have a social media manager by your side to connect with these conversations. A social media manager can help you post content, connect with audiences, and build your brand.
- Revamp Your Web Presence — What is the first thing you do when researching a potential purchase? You might head directly to the company’s website to learn more. Revamp your web presence so that people are blown away when they find your website. First impressions are everything and there’s no reason to be stuck with old web templates and graphics.
- Study and Embrace Trends — It’s never been easier to study trends than it has been today. The internet gives us every tool we could possibly need to identify trending ideas, engage with trending conversations, and to release products based upon this information. Study trends and embrace them as you cultivate your brand and build your business.
Finding success in the business sphere following COVID-19 is going to be a challenge. With that being said, businesses that take time to properly prepare themselves against future trials and tribulations will be ready to weather the next storm as it appears. Use our guidance as a leaping off point for your own ideas and concepts.
