5 New Business Ideas to Kick On Well in 2021

It is a good idea to look ahead to next year as Christmas starts to approach because the start of a new year is a good opportunity to refocus and implement new changes.

This is particularly worthwhile for 2021 as the pandemic has created so many new business issues in 2020, so planning ahead for next year could be key for recovery and getting back on track after a year to forget.

Of course, it is hard to say what the situation will be, but here is a few new business advice that will hopefully help you find success in 2021 and beyond.

1. Start Outsourcing

Outsourcing is a great way to get certain aspects of the business handled by experts in, particularly busy business times.

The great thing about outsourcing is that when you face a quiet period, which is quite common in companies, you won’t have to pay staff to sit around doing nothing or doing tasks that they aren’t quite as good as. This also minimizes the need to make staff redundant if you fall into financial problems.

Instead, you can just reel back the outsourced departments when making cuts and keep any in-house staff safe. Then once you have your budget back, you can begin outsourcing again. 

You can avoid an additional salary and paying other costs, such as training, days off, and equipment. It allows you to focus on the more important areas of your business and leave the time-consuming tasks to those who will be able to do it more accurately and quickly. 

The cost-effective nature of outsourcing is what attracts most new businesses, as you can ramp up your business and make a good ROI with their help. However, it is not just the money side of things that is an appealing benefit.

The rise of remote working means that you do not have to worry about the geographical location, so you can secure the best talent to help your business move forward. With the best talent by your side, you can ensure that any work completed by them will be better than hiring in house. 

Popular areas to outsource within a business include: 

• Marketing 

• Accounting and Finance 

• HR 

• Manufacturing 

• Legal

• Web design 

If you are considering outsourcing but don’t have the finances, could you make a deal with them? Can your services or products help them in return? This can be a good way to receive the work you need when you don’t have the finances to hand just yet.

2. Focus on Employee Wellness

2020 has been an incredibly stressful, upsetting, and worrying time for everyone where people have had to worry about their health, the health of their loved ones, and their livelihoods, amongst other concerns.

There has never been a better time to put more focus on the well-being and mental health of your employees. You should find ways to support your staff.

This could be as simple as offering healthcare plans or giving them more flexibility around their work schedule to look after their elderly relatives or young children. You could offer them gym memberships or start a scheme that focuses on cycling to work for when the offices reopen. 

Remote working can lead to a feeling of isolation, and as your employees might not be used to this way of working, it can take a toll on their mental health.

So, make sure to check-in with them by dropping them an email or setting up a meeting via Skype or Zoom. This simple act shows that you care for your employees. Sometimes they just need the reassurance that they are doing a good job. 

Not only will your employees appreciate the check-in, but it could make them work harder for you in return. 

3. Work Out the Best Solution For WFH

It is a good idea to have an open dialogue with employees about their feelings on remote working. Some people might love the ability to work from home if they have a set office space, whereas others who have been making do with the kitchen table or crave social interaction might be grateful to return to the office.

However, don’t make any decisions simply based on what your employees are saying. You should look at how the business has performed during the entire time your workforce has been working from home.

While some businesses may find an increase, some will see no change in productivity at all. By looking over the work and comparing it to how they were in the office, you should have a better idea of who could continue to work from home successfully for the long term. 

While you might assume that many employees want to WFH even after the pandemic because of an improved work/life balance, keep in mind that some would prefer a return to the office. This means that you might want to adopt a flexible policy where employees choose where they are working.

However, you should also consider the type of business you run. Do you work better when you are together? Or has the sudden change made you realize that your new business can be run solely online? This might eliminate the need for an office, allowing you to grow your business, employ more staff, or offer pay rises. 

4. Use A Reputable Digital Marketing Agency

To kick on and make 2021 a year to remember, you will want to do all that you can to increase brand awareness and compete at a higher level. With more and more new businesses having to make the change to an online platform, the internet is becoming more crowded every day.

Digital marketing is an effective way to boost your online presence and stand out. However, doing this yourself won’t be easy, and you can’t afford to make mistakes along the way.

Finding a reputable digital marketing and brand strategy agency with a proven track record could help to take your business to new heights and allow you to create a very strong presence online.

An expert marketing agency allows you to create a very strong presence online. The top agencies can increase conversions and traffic, which will help get on track after 2020.

5. New Business Should Cut Costs

Cutting costs can be a shrewd way to improve your bottom line, which could help the difficulties that the pandemic has caused businesses.

There are ways to cut costs, but you must always make sure that this will not negatively affect the company as this could actually have a detrimental effect, so you must be careful with this strategy.

Some good ways to cut back on costs include: 

• If you have decided that working remotely will be the way forward for your company, then the first way to cut costs will be to sell your office space. Alternatively, you could downsize. 

• In drastic situations, you might need to assess the pay of staff. Discuss with them about the possibility of cutting back hours, which would, in turn, take their pay down. This doesn’t have to be permanent, but it can help you get back into a more positive financial situation. 

• Start negotiating prices. If you rely on another business for services or products, then before you settle on a new contract, see if there is any wiggle room to knock down the price. If there isn’t, keep an eye out for sales or discounts. 

These few new business ideas should help your business to kick on in 2021 and hopefully find success.