Are you planning for 2021?
2020 was a turbulent year, one which no-one could have predicted. One that has affected businesses in both positive and negative ways. Some businesses have pivoted completely, whilst others have been forced to close or make mass redundancies.
It looks like 2021 will still be an uncertain year. Knowing about Covid-19 and the disruption it can cause, we can try to plan accordingly. Two keywords for business owners last year were resilience and adaptation; skills that will be just as vital this year in order to survive.
As the saying goes, “Fail to plan, plan to fail”, which could certainly be applied to entrepreneurs.
With that in mind, here’s our advice on what coaches should be thinking about when planning for this year:
Start by taking a look at your objectives and the plan that you created for 2020. Chances are it was completely turned on its head due to Covid-19, but if you did make changes what worked well? What could be improved? Do a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) to assess this thoroughly. Ask your clients what they would like to see from you and how you can support them better in 2021.
Keep an eye on what your competitors are doing and the areas they may focus on this year. Think about your USP and how you can fill the gaps.
Introduce new online services
As a coach, you may have been supporting clients via video calls, rather than in person. Think about other services that you could offer virtually. By expanding your offering, you will appeal to new audiences, stand out from the competition and illustrate that you’re committed to evolving your business.
Global e-commerce could grow to about £3 trillion within the next four years. Make it really clear and simple for your clients to book appointments and purchase your services via social media and your website. If you haven’t done so already, ensure that your website is fully optimised for mobiles and tablets.
Due to the pandemic, we are spending so much more time on social media and online. It is important that you stay connected with your clients and continue to show up on social media. Many business owners have taken to virtual networking, live video, and Facebook groups to promote their services. How will you advertise your business and position yourself as an expert? An effective marketing strategy should be a key aspect of your 2021 plan.
Be flexible and prepare for the unexpected
Put aside emergency funding if you can, to allow for reduced sales or expense on an adapted area of your business.
One thing is for sure, Covid-19 has changed the world inextricably and there will be no return to ‘normal’. There isn’t an industry that it hasn’t affected. However, the impact of the pandemic has allowed business owners more time to reflect and work on their businesses rather than in them and to do those things that we never get round to doing and think more creatively about how services can be improved or adapted to best suit our clients.
If you would like support implementing your plan for 2021, get in touch for a chat.