4 business resolutions for 2021
It might sound crazy talking about resolutions considering the situation we find ourselves in, but for business owners to really get ahead for 2021, it’s crucial to set solid goals. Following a string of life-altering events, including Brexit and now our third national lockdown, businesses of all shapes and sizes will have no doubt felt an impact.
That feeling has been further illustrated with the results from a survey from The Federation of Small Businesses, revealing that 5%* of firms expect to cease trading this year. Ian Harford, business growth specialist at ActionCOACH Stoke-on-Trent, shares his views on this statistic and hopes to help business owners get some perspective in this challenging situation.
“With the new year in full swing, most businesses will be fully immersed in daily operations since the Christmas break,” said Ian. “But whilst it’s great that business owners are tackling issues face on, I want to stress the importance of taking a step back to set yourselves some business goals. Whether it’s specific sales targets or staff recruitment figures that you wish to achieve by the end of the year, having goals documented and planning in the smaller steps you need to implement to achieve them is key to staying on track. Especially during the uncertainty of a pandemic, it’s important to keep your mind focused, to recognise areas of potential and make decisions with clarity."
Here are Ian’s top resolutions for business owners to set in 2021:
1. Strengthen your brand. One thing that lockdowns have taught us is the importance of brand presence. As we can now see light at the end of the tunnel, it’s crucial to maintain this when things return to normal – think about things like keeping customers loyal and engaged. This could mean setting yourself a target to focus more energy on social media or to put more time into your PR activity. Communication has been, and always will be, important and, just like last year, will be a key consideration for 2021.
2. Fine-tune your customer service. Stemming from customer loyalty, you might be looking at enhancing your relationship with your existing customer base. This might include perfecting your social media skills to ensure you are quick to respond to queries or finding the most efficient delivery service for your products. Whatever your goals, just know a strong reputation for great customer service will help you retain customers and to attract new ones.
3. Get out into the community. This point might sound a little strange as we can’t get ‘out’ anywhere, but that’s the beauty of modern-day technology. Almost overnight, networking events turned virtual, so there are still many opportunities for collaboration and support. If it’s your goal to create more connections with the local area of Stoke-on-Trent, there’s BNI groups, coffee mornings and regular seminars to keep you in the loop all still happening online. At ActionCOACH, we believe in abundance, and this is a great way to bring more people, ideas and positivity into your world.
4. Take time out. Once again, this might seem a little odd. But if it’s your dream to reduce your time spent working in the business, or you’re looking to retire, 2021 can still be a year to make progress towards that goal. Even if you just want your business to reach a point where you can take a holiday with your family without checking in several times a day, there’s no reason why this can’t be a possibility by the time travel opens up later this year.
Ian added, “There’s an underlying theme linking these four resolutions, and that’s mindset. If you have the right attitude and adopt a positive mindset to make these things happen, then they will. Just ask all my clients who grew their businesses last year during the most economically and emotionally challenging year for over a decade.”
If you’re interested in making 2021 your best year yet, book your free place on ActionCOACH’s ‘Take your business from good to great’ seminar on February 4th: https://stokeontrent.actioncoach.co.uk/events/6stepsseminar/
Sources:
* Federation of Small Businesses: Small Business Index – Dec 2020.