What Businesses Can Learn From 2020

- Entrepreneurial Skills

by Sam at Management 3.0

Most people won’t be sad to say goodbye to 2020. But just because the year was a tough one, doesn’t mean we can’t find the silver lining. This is especially important for entrepreneurs and businesses.

A few months ago, Eric Schultz, chairman and CEO of Sensitech and author of Innovation on Tap, came on our podcast and recounted the greatest lessons, as told to him by 25 American entrepreneurs. He discovered that happy, successful entrepreneurs tend not to dent the future but rather work on a problem that’s immediate and present.

We figured, why not look at the immediate problems from 2020 and figure out what entrepreneurs and businesses should be taking away from this year, that they can use in the year ahead.

Here are five lessons-learned from 2020, to consider in 2021

#1: Get Even Closer to Your Clients: Nothing replaces in-person contact, especially when establishing relationships with clients. Next year, as the pandemic will still be around, if you’re trying to build a business, make an extra effort to check in with clients and ask how they’re doing. Make virtual coffee dates, have phone calls and send notes when you can. Find out how they’re doing, what they need and stay close.

#2: Keep it simple: Economic and life challenges have been abundant in 2020. Heading into 2021, people want less stress. Streamline processes for people and minimize unnecessary headaches.

#3: Put people first: We’ve heard this all before, but if 2020 taught us anything, it’s the importance of people and making sure those in our orbit feel heard, safe, recognized and acknowledged. This motivates people and will make them more inclined to work with you.

#4: Create a business culture that is agile: The volatility of this year has taught us that we have to adopt a mindset that is flexible and be prepared for anything. Life can turn in a second, so the more agile the culture, the easier it is to adapt.

#5: Embrace Innovation: Never get too stuck in your ways. Just because a system worked doesn’t meant the environment is conducive for it continuing to work. Don’t be afraid to fail and try new things, even amid uncertainty, like a pandemic.

Photo credit Clay Banks via Unsplash

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