8 Points You Should Consider Before Drafting Your Business Plan For 2021

  • Home
  • News
  • 8 Points You Should Consider Before Drafting Your Business Plan For 2021
NETCorp

Success is not final; failure is not fatal: it is the courage to continue that counts

This quote by Winston Churchill is particularly relevant in today’s times. Those of you who dared the adversaries thrown by coronavirus by deciding to continue deserve a pat on the back. However, there are many who had to relinquish their dream; our heart reaches out to them.
With 2020 in the backdrop, the coming year, 2021, would be radically different from others. 2020 brought in challenges that none of the visionaries had anticipated, and thus created situations that demanded heavy governmental intervention and now the onus would be on businesses to chalk out strategies for collective revival. The financial lifelines that were given to businesses - in terms of loans and deferred payments - would have to be repaid in the coming year. So, what businesses need is a strategic business plan for 2021 that would be unlike other years and which would outline measures to give a thrust to growth while considering resources at hand.

8 things to consider while drawing up your sales and marketing plan for 2021:

Analyse

With the drastic changes that came about, the conclusions that were relevant until 2020 no longer apply. Your business faced new challenges, and you took unprecedented measures that took your business on to a different footing. So, SWOT analysis to analyse your Strength, Weaknesses, Opportunities and Threat is very much needed. You might have subscribed to newer technologies and invested in different arenas to sail through 2020, now it is time to see how they have performed and if you would like to make this change your new normal.

Give room for caution

The COVID-19 pandemic taught us all a few important lessons and the most important among them is to leave enough room for unprecedented changes. While charting out 2021 business strategy, be sure you are not being too optimistic, for the pandemic is yet to recoil. Also, think of financial crunch the economies will face and beware of the measures they may take to survive.

Consider stable technologies

We all saw how the work-from-home revolution saved the day; and how agile technologies connected and networked the world. It would only be wise to keep technologies such as Microsoft 365, 3CX and others that help to collaborate. Scalable and easily changeable should only be considered in future. Cloud solutions have proved to be reliable. For instance, 3CX, a cloud solution, offered the flexibility to our staff to answer calls that came to our office numbers from their mobile phones. This offered us the freedom from desk phone and guaranteed a seamless connection between the team and our customers.

Think expansion

To bounce back, look for newer avenues. However, when looking for new paths, it would be wise to look for options with the available resources and not investing too heavily for venturing into new markets, at least till the mid of the second quarter. We have seen that most small businesses have the potential to function in multiple directions with a minimum investment.

Streamline processes

Before you start describing your 2021 strategies, ensure that you have streamlined all processes. Where you envision to reach and how should be based on streamlined processes. This should include your administrative process too.

Customer experience

Your customers should be at the heart of your business, for only a good customer experience can bring about a change in their spending behaviour. With COVID-19 a lot of customers may have gone through a financial crisis themselves, so they would be highly cautious and choosy while deciding to engage with a product, service, or company. Only a good experience in terms of availability of a product, uninterrupted service, varied payment purchase options can ensure a steady flow to your business. So, while drafting your sales plan, customer should be at the core.

Newer sales avenues

2021 would be a year when you should be considering all the avenues for sales and marketing. With lockdown, consumer behaviour has shifted tremendously in favour of online shopping. The ease with which consumers could get things from the comfort of their home, made numerous businesses go online. These businesses not only survived the lockdown but also saw a considerable increase in their revenue. We even saw companies selling technical equipment venture into eCommerce and prosper. Budgeting for a website is no big ask; a Budget Website would hardly cost around $1000. If you are selling consumer goods, then you should also think of utilising social media for both – marketing and sales. All of these should be a part of your next year’s strategies.

Be inclusive

Whatever be your plan for 2021, you should inarguably support your team. It had been a tough year, and organisations that strived to keep its workforce in place and engaged them have seen its benefits. The power of an engaged workforce cannot be underestimated. Your plan should include ways to utilise the talent and capabilities of your human resource.

Fostering an environment of safety – both financial and physical, for your employees and your team, can help you tide through difficult times. We are in this together and would do our best to help businesses with various technologies and services to ensure each one of us get the best out of 2021.

If you need help with technology that will propel your business in 2021