3 Things Entrepreneurs Should Keep in Mind for Success in 2021


Last spring, the world came face-to-face with the “new normal,” a term we would soon learn all too well. The onset of the COVID-19 pandemic led to significant shifts in the business world. Everyone from major tech companies, small business owners, entrepreneurs, and everyone in-between had to adjust to changes in platforms, procedures, and priorities almost overnight.

Retaining and maintaining success in times of chaos is undoubtedly one of the most challenging obstacles small businesses and entrepreneurs have faced this year. The New York Times recently produced a series we highly recommend on how small businesses were pivoting their growth and profit models. It inspired us to put some pen to paper about our vision for what comes next in a post-COVID world.

How can small businesses, especially those specializing in technology services and app development, incorporate their pivoting into new strategies that ensure success in the coming “after” period of the COVID-19 pandemic? How do you move forward to ensure your product, idea, and business can still be successful once the worst happens?

We’re sharing some lessons learned from our own 2020 experience and strategies for entrepreneurs and app developers to consider for success in the coming year.

Don’t abandon your pivot – make it your plan.

2020 was a challenging year for all of us. This pivot – what we like to call the “2020 Pivot” – meant changing strategy overnight and, for many businesses, prioritizing staying afloat over the year’s meticulously planned growth and profit strategies.

We recommend assessing how the new direction your work or innovation took in 2020 could blend well with your approach in the coming months. That will help for both planning and continuity purposes – while pivoting is all part of an entrepreneur’s journey, evaluating what’s working or lessons-learned can lay the groundwork for future changes in direction.

What you can do right now:

Try asking yourself the following questions to help shape your 2021 strategic plan for your product:

  • What elements of what we’re doing are working well?
  • Where could we bring focus in 2021 that we couldn’t do in 2020?
  • What were the stopgap practices we adopted that we could afford to drop?
  • What would we like to do more of in the coming year?

Set your eyes on new growth strategies by diversifying relationships and opportunities.

Let’s face it, as entrepreneurs; we must be vigilant about having many irons in the fire. In 2019, GFTC set our eyes on a strategic approach that emphasized diversifying our relationships, partnerships, and growth opportunities. The investments we made in growing our network and visibility in new spaces well before COVID-19 hit helped us approach our shift in focus last year in a scalable way. Diversifying partnership opportunities and professional relationships can help bring about new areas for growth, visibility, and profit.

We know – this is easier said than done. The good news is that now is the perfect time to start small.

What you can do right now:

While the vaccination rollout has begun, most meetings and conferences will be virtual this year. Yes, the Zoom burnout is very real, but putting in some time exploring board memberships, applying for virtual speaking opportunities and professional networking events are all ways to be open to streams of growth and income.

Anticipate the need for innovations that address social issues.

COVID-19 further exposed health, education, and technology access disparities in communities nationwide. We are just learning the effects that the pandemic had on worsening the already stark existing wealth gaps. This year, we predict continued market interest in products and applications that help address issues such as hunger and mental health. Resolving disparities in technology access will also remain vital for these innovations to reach the communities that need them.

What you can do right now:

Do you have an idea for a product or application designed to address these issues? A developed product or application that has been sitting on the backburner? Now is a great time to think about the steps to bring these products to fruition or reintroduce them to the market in new ways. Applying our strategic planning tips while engaging your advisors’ network can also help bring new ideas for product refinement. Thinking of new ways to repurpose existing work can serve a sizable boost to potential customer engagement while creating additional growth opportunities.

Your turn! What are some ways you are preparing for the changes to come in the professional and technological world in 2021? Let us know in the comments!