5 ways to get ahead in 2021

So, that’s it, 2020 is over, and we start a New Year full of optimism and expectation. Whilst last year has been a time of many global challenges and will continue to affect our lives beyond the next decade, here is how these changing times should be utilised to shape engineering service businesses for the better.

Over the last nine months you will have seen for yourself the impact of the pandemic on clients spend. Whilst some may be holding onto their money, what new opportunities have opened up and how can you position your business to be able to successfully adapt to the new needs of existing clients and prospects?

Whilst change is a constant, these current times have shown you cannot afford to just keep on going as you were. Even the visionary Henry Ford’s ideology no longer rings true:

 If You Always Do What You've Always Done, You'll Always Get What You've Always Got.

If you continue to do what you have always done, you’ll get less than what you used to!

Here are 5 key ideas to strengthen your business for 2021 and beyond:

1.  Communication – In these times of uncertainty it is vital to be talking to your clients. How have things changed for them? How has remote working effected decision making? With more people working from home, there are more opportunities to build relationships, understand your clients and adapt your offerings
2. Partnerships – Following the market analysis and customer communications, you may well find that being able to increase your offering to more of a package will support your clients better, so getting the right partners on board will help get this in place. Alternatively, some existing service providers may be having difficulties reaching clients more local to you and by partnering with them you can increase your revenue with new clients and services
3. Team – I’m sure you have seen plenty of businesses in your sector who have done a good job and also plenty who have done a bad job treating their clients and team. No doubt, you will have felt this yourself dealing with some companies and there are always plenty of examples in the media. Whilst looking after customers is vital, looking after your team is more so. If you value your team then you need to step up and support them whether this means you need to show flexibility around childcare, allow them to work from home, or come into the office. Most importantly, the key with your team, is communication. Do they know what is happening within the busines? Have they been able to discuss how can their personal circumstances have changed and may need to be supported?
4. Expanding your team – Whilst looking after your own team is so important, there are plenty of business failing to do this and as a result, disgruntled employees who do not feel valued and have been kept in the dark are looking to switch. There are also those who’s companies have not been able to adapt and have closed or downsized as a result. There is a wealth of talent out there at the moment, and whilst now might not be the right time to increase your wage bill, maybe there is the option of sub-contracting or zero-hours contracts, especially if they are going to be able to bring existing contacts into your business.
5. Contracts/Agreements – With the amount of change and ongoing uncertainty, now may be the perfect time to get in place some commitments with your clients, potentially in the form of service agreements or contracts so there is one thing that can be relied upon for all parties. This is something that can be adapted to the needs and concern of every individual client, and with one less thing for your client to manage and reliable income for you, it is worth having those discussions.

However, you see 2021 panning out, the reality is you will need to adapt. I hope you can see the opportunities in these new times, I would be fascinated to hear your perspective.