Year 2021, Market normalization
Year 2021, how to act in the face of market normalization. For most companies, the year of the pandemic has meant a hiatus, a period of financial hibernation. Resisting became the sole purpose and all those growth, expansion, and improvement objectives, planned in 2019, were left in the background.
The year 2020 has been the litmus test for many small businesses. The companies had to endure two or three months of closure, the loss of customers, loss of workers, lack of market, extremely restrictive rules or lack of essential raw materials, just to mention some of the obstacles that blew up the list of planned goals in 2019.
In the 2020 scenario, according to international consulting firm Deloitte, companies had the difficult task of simultaneously responding, recovering, and prospering in a totally dysfunctional market.
“Companies had to combine offensive and defensive actions to accelerate recovery efforts and move to growth despite difficult conditions.” As is known, not all of them succeeded and almost 100,000 small businesses went bankrupt.
Today, it is not difficult to guess what the New Year’s wish of most entrepreneurs is: Back to normal!
Although the appearance of vaccines creates a more favorable horizon, 2021 will still be a tough year. In it, companies that have been able to adapt, incorporating new technologies into their operations and those that are capable of surrounding themselves with good talent, will be more favored. These two actions will allow them to detect in time the juicy opportunities that will appear in an increasingly digital market.
However, it is surprising that, when addressing the subject of New Year’s resolutions, few entrepreneurs include, as essential, the issue of security. When, contemplating all the scenarios and envisioning a safe exit in each one of them, can make a difference when it comes to achieving business success. Year 2021, how to act in the face of market normalization.
Entrepreneur friend, when planning the next year, do not forget to include your commercial policy which, in short, is the one that protects your assets, your investments, and allows your business to flow smoothly towards success.
Even if we move towards normality and recover the goals we set in the past, safety remains essential.