While 2020 was a challenging year for most business owners, it showed who can thrive under the most stressful circumstances. Some companies made significant adjustments to compensate for dramatic developments every few months, while some entrepreneurs shifted their entire strategy to remote work or working from a distance.
Unfortunately, 2021 may experience similar struggles as companies are still focusing on staying safe and healthy for all their customers and employees. However, there are some benefits to starting your business in 2021:
The tremendous increase in online content consumption
According to entrepreneur.com, consumers are stuck at home. And now, they are spending much more time online whether they are working, entertaining themselves or shopping. This growing trend allows you to anticipate how you can take advantage of online content consumption and make it work best for your company.
For example, if you had an initial marketing strategy that implements other local spots (such as billboards, posters, etc), you can easily shift towards niche online marketing that can reach that exact same audience while they are stuck inside their homes for the next few months.
Huge untapped potential in the workforce
Unfortunately, 2020 led to major layoffs, and many workers are either unemployed or staying in uninspiring job positions. Luckily, this could easily work in new companies’ favor as they may be able to tap into extremely talented employees who are motivated to move into new startups.
Not only that, but you also have the gratification of helping those in financial turmoil as they tried to adjust to the impending economic recession that we are facing in the United States.
More time to develop skills necessary for running a business
The most important benefit of 2021 is we have a significant amount of time in 2020 to reflect on ourselves. We saw where our strengths lay versus our weaknesses. You may even feel more invigorated to start your company due to the amount of time you had in 2020.
Use that self-reflection as an asset to identify your strengths and develop any necessary skills, so you start on the best foot possible in 2021. While any time is an intimidating time to start a company, it’s better to take action rather than wait for the perfect time to come (because it never will).