2020 was a shocker in all sense it entirely turned the world upside down, the business world bared the grunt of it, those who evolved and adapted survived have rather grew stronger out of this unpleasant experience.
Moving forward in 2021 the business world is no longer the same the rules and structures of business that took place have dramatically changed.
I mean we still haven’t left the nasty virus behind it’s still there and apparently, even the virus evolving then shouldn’t business evolve too?
In this post, we will go through business trends that will rule 2021 and may remain prevalent moving further even in the future.
1. Remote is all the Rage!
By now we all have gotten pretty used to remote working, if you have still not gotten a virtual address for LLC i.e. your company then it is high time that you do.
Because remote working is here to stay and businesses have gotten pretty used to it; very few people are willing to put their lives at risk so that their bosses can become richer by the day.
Making the business go virtual actually has unprecedented advantages and very little to lose in the bargain.
I am probably not the first one to say that your business can save costs tremendously and you don’t have to take my word for it, grab a calculator and run the numbers the truth will prevail.
No need to burn money on the commute, office power, coffee, water, and maintenance. You get to save all this money just by going remote.
I mean I realize that I am making this sound easier than it is, there are indeed certain businesses that cannot afford the luxury of remote working, businesses associated with tangibility where they have to manufacture or provided a service requiring human presence; but leaving that aside there are a number of businesses that could have gone remote long ago, businesses dealing with IT for instance.
2. Data Belongs on the Cloud
Over the course of years, the volumes of data have grown tremendously. At this point, data is more of an asset than something to be stored as junk to be never looked over unless legalities arise.
In the world of data science and data analytics, you need your data at a secured place and you need to make provision for data analysis to have some excellent insights.
Huge corporations are leveraging Data Science and Machine Learning to come up with useful insights; having predictive intelligence at their disposal lets them gauge the performance and maintain and rather triumph over the growth trajectory.
3. Revamp the Business Model
If 2021 isn’t working out for your business then it’s worth considering that the business model is no longer working and that it’s in dire need of up-gradation.
You don’t have to change your line of business altogether, nobody is asking you to do that all you need are some tweaks in the existing model that can adapt to the present circumstances with everyone still being hesitant to step outside their homes.
For example, food delivery services stayed much the same they just modified their app and service functionality such that in the app they ask the customer to take no contact delivery and encourage them to pay digitally so that there is no room for human contact. There are dozens of such examples of businesses that have made some tweaks to their business model and survived.
Automation is definitely a business trend for 2021 with businesses looking for ways to cut costs. Automation is the answer that businesses have been seeking.
Automation is diverse and multifaceted, when I say automation I am not just pointing at the Information Technology industry that would be a very narrow approach.
Automation has branched itself across several industries leveraging tools and technologies like chatbots, robots, automatic vehicles and it’s heading in the direction of healthcare too, robots are being trained to perform sensitive surgeries and the success rate is alarming.
5. Data Privacy is a Sensitive Issue
People are increasingly becoming aware of how their personal data is being stolen ruthlessly and is being exploited.
Whistleblowers have unmasked certain entities that are actively involved in data theft, earlier it was just European Union that took major steps to curb this by introducing GDPR but now throughout the world concerns are growing with regards to data-theft and people aren’t happy that their data is getting misused.
As a business, if you want to gain people’s trust then it’s high time that you don’t resort to these tactics of data theft.
Businesses need to be transparent about what data they use of customer and for what means. People are increasingly drifting more towards businesses that don’t exploit personal data. Duck Duck Go Search Engine company that don’t exploit personal data has abysmally grown in 2020 owing to people who wanted to use a service that safeguards them digitally.