As a business owner, how do you best prepare for 2021?

Many of us I’m sure can’t wait to see the end of 2020. But, as business owners what can you do to best prepare for 2021?

Here are some strategies that can help you thrive in the new year:

1. Re-assess your business vision, direction and goals

In order to make meaningful progress in your business, you need to have an idea of what that progress looks like. The events of 2020 may have compromised your initial vision and goals for your business. One of the best ways to get back on track quickly is to re-evaluate your vision and goals. The important thing is to re-evaluate them in line with the new context of the Covid-19 environment.

2. Identify any relevant skills/knowledge you need

In line with the above, ask yourself what skills/knowledge you need to make you and your business relevant for the new context. Many business owners were exposed by the pandemic and found to be lacking in critical skills that possibly could have saved their businesses, or even enabled them to thrive. Some of these relevant skills may include strategic planning, crisis management, leadership/self-leadership and communication skills.

3. Develop a comprehensive strategic plan

Once you have a clear vision and direction, a strategic action plan is the road map that will get you to the vision. The value of an action plan is that it clearly sets out your objectives and what you need to do to achieve them.

Over a 12 month period, a comprehensive plan sets out your goals and relevant activities over a monthly, weekly and even daily basis, so that you always know exactly what you need to do and by when. A plan also keeps you focused on doing the most important things consistently, while avoiding becoming distracted by the wrong things.

4. Work on any mindset/emotional blocks that could stop you from taking decisive action

One of the most fundamental characteristics of a business owner/entrepreneur is his/her mindset. The mindset of an entrepreneur is different to that of an employee. As business owners/entrepreneurs, we face daily challenges and an emotional rollercoaster. If we don’t know how to deal with these, it will be easy to fall prey to what I call the “dream killers” of entrepreneurship.

These dream killers are self-doubt, limiting beliefs, fear and negativity. All of these prevent you from taking decisive action, which is critical for success in business. Many business owners know what they need to do to succeed, but they are unable to take the decisive action necessary. Most of the time, their lack of action is the result of these mental/emotional blocks.

5. Cultivate a positive mental environment

In line with the previous point, one of the best ways to quickly overcome the effects of mental blocks is to cultivate a positive mental environment. Create a routine that you can follow consistently that helps you to develop a positive mindset.

The reality of being a business owner is that it is impossible to avoid the mental blocks and challenges that come up. This is just part of the entrepreneurial journey. Thus, instead of trying to avoid them, it is a far better strategy to find constructive ways to overcome them, or lessen their effects. By feeding your mind with positive and constructive things, you can give yourself an edge.

6. Accelerate the results from the above strategies by getting coaching support

While you may well be able to accomplish the 5 things I outline above by yourself, it will take a lot of time, and you may find it a difficult process to carry out on your own. I therefore suggest that you work with a business coach that has several advantages:

  1. A coach can help you clarify your vision and direction, so that you can have a clear picture of what ultimate business success will be for you and your business
  2. A coach can help you create an action plan/strategic plan that is customized for you and your business, so that you can feel confident that you can handle any crisis or challenge that comes up with the right plan
  3. A coach can help you overcome mindset and emotional blocks, thereby freeing you to take the decisive action that will accelerate your results, without fear, self-doubt or hesitation

Typically, the end of the year is when most people tend to make big changes in their lives in preparation for the next year. You can do the same for your business.

If you would like to give yourself the best preparation for ultimate business success in 2021, I’m offering a free Grow Your Biz Fast in 2021 and beyond coaching session. During the session, we will work together to:

  1. Create a crystal clear vision and direction for your ultimate business success
  2. Eliminate hidden challenges that may be sabotaging your sales and profits, and your marketing efforts
  3. Help you to leave the session renewed, re-energized and inspired to take your business to the next level of profitability, not only in 2021, but beyond.

About The Author

Prof. Theodore Petrus

Business, academic, executive, leadership coach and speaker. He is dedicated to helping business owners 10X their sales and profits in the shortest time possible through a simple and easy to follow business breakthrough system.

Get in touch

theo@tsplifeskills.co.za

+27 722 843 156

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