What It Takes For A Business To Be Competitive In 2020

What a business might use to define success in 2020 is vastly different from how it might have been defined even twenty years ago. Sure, the relative similarities and universal truths still apply. At the end of the day, you need to bring in enough revenue to break even on your costs, payroll, and overheads, and ideally, more than that. That being said, businesses need to be competitive for the time they are in, no matter what.

So, what does it take for a business to be competitive in 2020, when remote working, creative branding, free social media outreach, and more are considered the basic tools of the trade? Surely something more is needed? Well, on that front you are surely right. But how can we go further and consider how to move forward in the best possible instance? How can we better our approach and stay on the right path? How can we cut the deadwood of outdated thinking and instead begin to install and apply norms that most correspond to the market we find ourselves in today?

Those are worthwhile questions. Let’s see how well we can move forward:

Essential IT Infrastructure

Essential IT infrastructure is essential to consider. It can really make a difference regarding how quickly you can respond to your workload, how staff can communicate with clients and each other, and perhaps more importantly, how you can protect your firm from a range of sophisticated and developing cybersecurity threads. Visit spectrumwise.com to see just what these managed IT principles are, and how they can benefit your business. Remember, all firms have access to the same internet, but what matters is your delivery system and competent integration with your firm. Stay effective in this regard, and and you’re sure to compete with the big boys.

Social Awareness

It’s true that no business is an island, and mustn’t consider itself to be. That’s a quick way to disintegrate any goodwill you may have otherwise had with your audience. We live in a cultural landscape, and that means companies need to understand social awareness and how to apply it. Does this mean they need to make a statement about every political news story or topic that takes place? No. But, consider pride. Instead of using the pride flag to sell more products, they could adequately focus on what they should do to focus and protect that message. This can be a much more substantial manner of being helpful yet never exploitative, while still aiding your business goals.

Visionary Leadership

We often think that leadership is not as important as it was in the old days when new and innovative concepts were abounding. But that’s not necessarily true. For instance, consider Notpla, a recent startup focused on creating sustainable packaging. In line with Just Eat and Hellmans, they have managed to create a seaweed-skin packaging to hold sauces like ketchup for the takeaway industry, showing a true innovative ideal, leadership in space, and will no doubt likely come to dominate the market thanks to their ingenious idea. This shows that new and better methods of progress are always important – and it takes leaders like us to get there:

With this advice, we hope you can stay competitive as a business – even in 2020.