Nobody could have possibly predicted a global pandemic in 2020, and many managers and leaders have been left reeling with the impact that the Covid-19 outbreak has had on their businesses.
Trying to plan for the unplannable and create a strategy for management that takes us into the New Year and beyond is something of a tall order for many leaders at the moment, but trends and tactics are already becoming established as a means of navigating through the inevitable roadblocks. Here are just a few of the management strategies you can expect to see cropping up as we head towards 2021.
Road maps to resilience
Only the strong survive, and this saying couldn’t be more pertinent than it is right now.
But strength isn’t just down to how much money you have in the bank to weather the ongoing Covid storm, it’s also about how resilient your teams are to change and how you overcome new and unexpected challenges.
Preparing for the unexpected is like trying to nail jelly to a tree as the past few months have proven, but if you have a team that’s mentally and emotionally robust enough to tackle anything that comes their way, then that’s half the battle won.
Forget everything you know about your customer’s usual behaviours. By assuming that your bread and butter clients will continue to act and purchase as they did before 2020 hit, you could be setting yourself up for failure.
Gather your teams and bring together data on your customer behaviour over the last few months. Are they being more cautious with their budgets? Are they ordering differently? Do they want a different product or service delivery process that you are currently unable to offer?
By gaining these insights, you can push those assumptions away and start to see the real picture of what, when and how your customers and clients are purchasing so you can amend your processes to meet these changing needs and the evolving buyer journey.
Prepare for changing values
Likewise, the values that drive customers to buy from and engage with you are changing.
By tapping into consumer values as they shift into 2021, you’ll be far better placed to set out a management strategy that gives them what they need to feel safe, appreciated and valued by your business.
Experiment with new business models
If your current business model is failing to meet customer needs and expectations, then it’s time for you to pull your team together to determine how you can move into the New Year in a more positive position.
Many businesses have faced an inflection point of major proportions in the last few months but by evolving and changing their business models, this has allowed them to weather the storm. Look to close competitors and learn lessons from those who have adapted to change quickly to inform your own pivot.