How to Prepare for 2021: The Results of Our Business Planning Survey

2020. What a year! Even for veteran business leaders who have seen it all, we're in a moment that feels unprecedented. 

To help you rise to the challenge of making a business plan for 2021, we surveyed our network and asked: What is guiding your decision-making as you plan for next year?

Here’s what we heard.

Focus on Products and Partnerships

First, it was immediately clear that it’s important to serve customers with the solutions they need, especially when those needs are shifting quickly. One respondent put it this way: “Solve real business problems.” If you prove to be invaluable to your end customers, you’ll continue on the right track.

In 2020, half of respondents have pivoted and introduced new products or solutions to meet customer needs. 

And half of respondents say they’ll launch new products next year.

We also heard that creative sales tactics are a focus in 2021. 60% of respondents say establishing new partnerships is a top priority — in fact, building new partnerships ranked equal in importance to bringing in new clients.

Leaders are investing in channel partnerships and rethinking their marketing to connect with their end customers.

A Push for Innovation

Business as usual just doesn’t work in our new environment. 

One respondent put it this way: “The business environment as we know it has changed forever. Don't focus on how things ‘used to be’ and going back to that. Focus on the ‘new normal’ and what you need to do to win in this world.”

A Need for Connection

We’re also seeing a new focus on human connection. We heard advice like:

“Lead with your head AND heart.” 

“Take care of your people.” 

“Be thoughtful and make sure you reflect on the lessons of this year.”

To be sure, this chaotic and unexpected year has changed businesses and the people who run them. On the whole, we are more resilient, more empathetic, and more resourceful than we were a year ago. The imperative is to make sure we reflect on, understand, and use the lessons this year has taught us, and to keep getting better.

A Positive Outlook for Business in 2021

Our survey group is optimistic about the opportunities ahead in 2021. 93% of respondents think revenue in 2021 will increase compared to 2020. While some predicted revenue would be flat year over year, none of the respondents said it would decrease.

Finally, we asked: “What’s ONE word that will guide you next year?”

The responses made us feel inspired, energized, and ready to take on 2021, even as we know it will hold its own challenges:

Velocity. Engagement. Hope. Innovation. Growth. Creativity. 

Adapt. Transform. Accelerate. 

Those are words we can get excited about in 2021. If you haven’t already, ask yourself and your team: What’s your word for 2021? How will you plan for success?

Need help evaluating your 2021 plans? Through our lean process, we find opportunities to accelerate, simplify, and optimize results for our clients. Call us for an objective, outside-in view.