With 2020 approaching its end, we look back at what has been a historical year of shock, uncertainty, and anxiety, but also a year of innovation, character and ubuntu. As we bid farewell to this unprecedented year, we take with us the valuable lessons we have learnt as a company and individuals. Here are the top 5 lessons 2020 has taught us:
[1] Be Adaptable
Sure, this is a well-known business tip, and one that is vital for continued success, but with the Covid-19 pandemic raging and difficult lockdown restrictions businesses had to face, our adaptability was pushed to a whole new level. Businesses had to learn how to be exceptionally flexible and adaptable with regards to their product, service, processes, and the way in which they deliver those products and services.
The ones who not only survived, but thrived, were those who were able to think on their feet and adapt their offering to a new crazy way of life. Great examples of entrepreneurs and businesses who successfully adapted to the “new world” are:
- Fitness instructors hosting live classes via Zoom.
- Wine farms selling wine tasting boxes online for those who aren’t allowed or are scared to travel.
- Restaurants opening as bakeries during strict lockdown regulations.
- Artists live streaming shows out of their living rooms.
- Hotels and Guesthouses raffling various getaway packages to ensure continued cash flow.
“Adapt or die” rings true to any business in modern day and is a hard lesson most had to learn in the past year.
[2] Ubuntu spirit
Standing together and supporting one another is the only thing that will get a nation through a crisis such as the Covid-19 pandemic and lockdown. Not only will it feel great assisting fellow business owners and even competitors, but your customers will remember you for it.
In true Ubuntu spirit, Palm Grove Spar in Durbanville ceased the sales of their stationery and frozen burger patties and encouraged their customers to rather support the nearby stationery shop and RocoMamas restaurant. By doing so, the stores more negatively impacted by the lockdown regulations were able to look forward to less competition and more feet through their doors.
This was a small sacrifice made by the grocery store, but had a huge impact, not only on their fellow business owners, but also on the customers who would now remember them for their good deed.
[3] Online presence is a must
When the country moved to a hard lockdown in March this year, a great emphasis was placed on the importance of having an online presence. The only businesses that were able to continue reaching their customers and stay at the top of their minds, were those with websites and social media pages.
Here businesses were able to continue talking to their customers and keep them excited about upcoming products and deals. Those with online stores were also able to continue trading with a delay in deliveries communicated to their customers. This ensured that they could keep cash flowing in and thereby keep their business afloat.
In contrast, businesses selling products in-store only weren’t able to continue trading, and therefore had little to no income during the stricter lockdown levels.
With customers being forced to shop online, South Africans have become more familiar with and trusting of this shopping platform. Businesses should therefore consider opening online stores for their products as the online platform will continue to grow in the near future.
[4] A product or service is not enough
Another lesson that strict lockdown regulations taught us is that selling just a product or service is not enough. This was especially true when sales and/or deliveries, and service delivery were not possible during stricter lockdown levels.
Advertising your service and/or products could (in most cases) not lead to immediate sales. Having product and/or service ads on social media and other channels therefore proved to be completely ineffective. In modern day, this is a trend that will continue as customers require more from brands than just a product offering.
During lockdown, those that built a strong following were businesses who were able to keep their customers entertained while not being open for trade. This included educational or informative blog posts, visual mood or trend boards, exciting videos, helpful tips and keeping a 2-way communication stream with customers.
Brands who are able to continue educating and entertaining their customers will enjoy a greater following on their platforms and an easier word-of-mouth as customers prefer sharing entertaining and informative posts rather than normal advertisements.
[5] Appreciate life and loved ones
As the whole nation was forced to spend all of their time at home, they were reminded of what really matters – to live and to spend time with those you love. The value of life and loved ones were highlighted during this time, and is something that will stay with us and the way we do business going forward.
It is important that businesses don’t lose sight of this value, but rather strategize how they can help their employees lead a full life with loved ones. Something that was proven to be possible through remote working during lockdown.
Helping your employees live a fuller life is not only beneficial to them, but can have a great impact on your company as a whole. Employees will be happier and less stressed, and therefore more productive and eager to help you grow as they value your way of doing business.
Even the smallest benefit can go a long way in impacting your employees’ lives. Here are a few examples:
- Allow new parents to work half day at work, and the other half from home for a month after their maternity/paternity leave. This will allow them to transition easier into leaving their newborn at home/day care.
- Allow employees to come in an hour later on a specific day of the week so that they can miss traffic and sleep in or work out in the morning.
- Allow employees to enjoy a “free” day off on their birthday each year.
We want to wish all our clients a Merry Christmas and prosperous New Year. May we take the lessons 2020 has taught us, and use them to thrive in 2021.
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