A business strategy is basically a simple documented plan on how you want to achieve your goals smartly. It contains keys and pointers on how a company will set out to attain their desired goals. Business strategies help you get the best of your strengths and weaknesses. It’s vital for every business as it gives you a view of your efforts, performance, your capabilities, and improvement options.
Every business consists of a few pillars like investors, products, a different set of teams, and a vision by the CEO. Every pillar has its own business strategy to figure out. Today let’s talk about from an investment point of view and learn some strategies for investors in 2021 as what 2020 has taught us until now is that; everything is uncertain and it’s better to be safe than sorry.
The first one is short and precise. It is better to invest in a business that has different domains and doesn’t solely rely on the presence of the customer. They must have or plan to sell their product/service online whether it’s through a website, social media platforms or emails, etc. Online marketing now is essential for survival and has different ways. Content marketing, video marketing, email marketing are some ways that companies are growing online due to the viewership and usage of Facebook increasing by 50% and Instagram and YouTube have billions and millions of views daily!
Secondly, you need to research on which business has clarity on their business identity. What they stand for, what product and service they’re offering, and basically if they’re focusing on what they stand for. For example, if they were a shoe store and were told all outlets had to be closed due to a pandemic. Many companies shifted to selling them online like even parts and machines of hardware were made online like the titan impact 440. People are very skeptical to buy shoes online due to their various sizes for every company. What the shoe sellers focused on was selling shoes online with the same experience of buying one at the store like JOMO PK gave an option of sending the shoe with a rider and allowing you to try it at your doorstep. If the shoe fits, well enough. If it doesn’t, the buyer gets an idea about how it looks and their ideal shoe size.
Another important strategy for 2021 is to look at the number of products they plan to offer in the future. There is an increase in business every day. Small business with new innovative ideas and existing brands with new launches. You need to keep in mind that investment is mainly a long term contract and due to the uncertainty we all have experienced. Again let’s see how titan impact 440 was added and made available after the successful launch of Titan’s old products. This means they kept evaluating their customer’s demands and grew accordingly. It would be advisable to focus your energy on a business that plans to expand and grow which means they’re keeping 2021 in mind and making their decisions more wisely. Why wouldn’t an investor be intrigued by that?
Every investor needs to see what the company is offering them right? A strategy for 2021 includes looking at what a company is offering its customers. As mentioned above, due to the extensive expansion of our industries and various startups, buyers now have a lot of options to choose from. A company needs to have a plan to keep its loyal customers in line with various tactics like loyalty cards, special discounts, and customer support. Customer support in the form of maybe a live chat box on their website isn’t only for the old ones but also to attract new ones. It creates a sense of trust and bond between the buyer and seller. So every investor should see what a company is doing to keep its customers and to captivate new ones in the long run.
Improvements. As an investor, you may choose to invest in a start up with potential or an already existing brand/company. One thing I think we all have learned is that once standing high can always fall. For instance, Zara alone had to close many outlets around the world in 2020. The question is what are they going to do about it in the future? A company should always be focusing on making improvements and adding value to their existing self no matter how huge it is in order to stay in the game. A promising team with a thinking process at least on how they can salvage situations and bounce back, promote their old products. Make improvements in their existing products/services, promotions, and marketing.
So these are some essential strategies every investor should keep in mind to save their money from going down the drain.
