Powerful Business Lessons Learned in 2020:

Small, Medium-Sized and Big Business Takeaways in the Year of Covid

We’ve made it to the end of what most would consider the most difficult, challenging year in modern-day history. There is not a single business on the globe this pandemic hasn’t affected – for better or worse.

The lessons businesses around the globe have learned are invaluable and aren’t only for Days of Pandemic. In fact, many of our views of business have been re-shaped. Re-imagining our businesses has provided us with some pretty fantastic, ingenious ways to reach customers in innovative ways.

CustomInsight, too, has adapted to changes and how we work with our clients around the world. Here, we’d like to share some of the most powerful business lessons we’ve learned, as well as those our clients around the world have shared with us.

1. Agility, adaptability, resiliency are the words of the year. Any business that stayed afloat – in particular the old school brick-and-mortar businesses – did so because of these three concepts. Adopting a flexible mindset that doesn’t focus on the past, instead on problem solving, critical thinking skills, and creativity is fundamental moving forward.

2. Relationships matter. The relationships you build with your collaborators, your customers, your associates, your partners, your suppliers … are the foundation of the success of your organization. These connections increase employee engagement and build success. Have you stopped and considered the way you’ve cultivated these relationships during this time?

3. Transparency and communication are the cornerstones of employee engagement. Without trust, an organization has nothing. At a time when everything seems up in the air, the one thing your CEO, President of the Board, Director, Senior Manager or other key leaders in the organization can do is communicate clear, candid messages about the health of the organization and what is to be expected. Engagement plummets, as does production, when collaborators don’t know what’s next. Communicating with an almost exclusively remote workforce is even more challenging, and the organizations who did this well are the organizations who maintained employee engagement and a sense of community. This communication isn’t a one-way street. Using tools like the free online suggestion box is a way to keep communication flowing both ways.

4. Diversity matters. Diversity isn’t about slots to fill, instead a way to improve your organization. When everyone looks the same, everyone often thinks the same, stunting an organization’s agility and resiliency. Everyone needs to feel like they belong to do their best work. And being mindful of how to become a diverse, dynamic workplace is key to success. How do you score in Diversity, Equity, and Inclusion? Try our DEI survey to get an overview on how your organization stands up, giving you a bird’s eye view of how you can improve and, ultimately, walk the talk.

5. Innovation, innovation, innovation. This is a must-be in any business model. The concept goes back to agility, but it’s even more in-depth than that. Innovation should be part of your organization’s mission and vision, as resources must be directed to investing in how to continuously evolve and innovate your business.

The lessons learned in 2020 should become fundamental changes to our business models in 2021 and moving forward. Innovation, diversity, agility, connection, and communication are five key areas to focus on and integrate in your day-to-day business.

If 2020 has taught us anything, it’s we don’t know what is around the corner. But we can be ready for the unknown, work through it, and come out successful.

CustomInsight wishes you and your organization a Happy New Year and success in 2021. We look forward to sharing our news and products with you in the upcoming year so we can all succeed and improve together.

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