Navigating Business in 2021

Many can’t wait to emerge from 2020 into a new year.  Still, 2021 has been shaped by 2020’s business and financial survival decisions and changes made as a result of the pandemic.  To prepare your business to move forward in 2021, you cannot afford to ignore the changes wrought by 2020.  Some things will eventually go back to “normal”, but others will change permanently.  Americore provides support for navigating business in 2021.  

Our Blue Apple programs can help you improve employee retention, cash flow, retirement investing, growth funding and more. Let Americore show you a better path to the future. 

Working From Home?

There certainly was some loss in productivity according to UK DailyMail. Happily, productivity rebounded in the second and third quarter according to CNBC.  A remote workforce has created invaluable savings where and when it is possible to have employees work from home.  Chase downsized their office needs in 2020 as the pandemic exacerbated the move to online banking. Bank of America temporarily closed branches during the pandemic.  Maybe it’s time for you to reconsider your business workspace priorities and support.  Perhaps you can ditch the rent, but provide proper office equipment, mental health support and more for a home based workforce. 

Digital Interaction

In 2020, businesses rushed to figure out how to deliver services digitally.  Some of the business revisions are simple, like creating catalogs of inventory to sell online.  Others began drop shipping merchandise to deliver it faster at a lower cost to consumers.  Others, like the Amazon Prime Wardrobe option allow consumers “try before you buy.”  The key to surviving shutdowns was in business ability to engage and interact with their customer base digitally.

Data as a Valued Asset

Consumers switch to online consumption, as a necessity, but it became a convenience.  Businesses that leveraged customer data to get to know their consumer preferences as well as to improve decision making are ahead of the rest.  Given the amount of business handled by cloud solutions today, data can be accessed from anywhere.  That is a two edged sword.  The conveniently accessible data that offers a competitive edge needs to be protected and secured just as you would any other valuable asset.  Today, businesses need to focus on boosting data literacy levels in their company and on boosting cyber security measures.  Make the plan to invest in systems that can handle the storage, analysis, organization and processing of data constantly streaming in.

Sustainability

In spite of the pandemic interruption to business, the environmental crisis became more of a focal point in 2020 than ever.  Rethinking your approach to operations, environmental impact and product use can yield appreciation from your consumer base that is realized in higher sales volume.

Companies for a Cause

Workers want to feel what they do has meaning. Consumers want to see companies who support important causes too.  In 2020, the consumer trend to look closely companies who support favorite causes, became more pronounced as an important factor in making purchase decisions.