Since 2020, the world has been dealing with rapid transformations across every business sector. Our world is changing extremely fast and business owners must be ready to adapt and take action if they want to keep up with these changes.
Here are some trends that will help you stay on top of all those transformations and thrive in this ever-changing market.
Keep up with COVID
Although it is unlikely that businesses will suffer major lockdowns such as the one in 2020, COVID-19 will forever affect your relationship with customers and employees. According to an ongoing survey conducted by Deloitte, 51% of consumers are concerned about their wellbeing when it comes to their activities.
Make sure your organization is always prepared to have practices that ensure your customer’s wellbeing in place, as well as ease their minds when it comes to their safety. Remember that not all customers will feel comfortable coming to your organization, and be ready to accommodate their needs remotely as well.
Sustainability is key
Sustainability is becoming more and more important as the years go by. Every business owner must seek solutions to eliminate or reduce the environmental costs of doing business. Any organization that denies sustainability is likely to struggle to survive in this day and age. Look beyond decarbonizing your supply chain, and think of ways in which you can improve sustainability across all business operations.
The balance between AI and human workers
Nowadays, we have an increasing number of AI (artificial intelligence) robots that can perform tasks that were previously done by human workers. As time goes by, AI will become a more predominant and normal part of our everyday lives and business owners must find a balance between intelligent machines and human intelligence.
Ask yourself questions such as, “What roles should be given over to machines?”, “What roles are better performed by humans?” AI will inevitably start to affect every industry and business owners must be ready to embrace those changes when the time comes.
Authenticity is key to succeeding in today’s world. Customers are seeking meaningful connections with brands, and it is extremely important that you are prepared to give this to them. Be authentic online and when building relationships with your customers.
As we reflect on 2020 and 2021, we know how important it is to be prepared for changes. At BTA, we understand the challenges that come with owning a business and we are ready to help you every step of the way. Check our Facebook and LinkedIn pages for more updates!
We are business owners and advisors that offer consulting services to entrepreneurs. Working hands-on, we help develop and implement effective strategies that increase business value, growth and profitability, to prepare for the future.