What Did We Learn from 2020?

Happy New Year!

2020 is now behind us, but I’m sure you’re savvy enough to know there’s so much work to be done in the coming days.

I thought I’d start the 2021 year by looking back on what we learned from the past year, and what a year it has been:

Is WFH the new normal? 

Work-from-home is probably one of the phrases you’re absolutely sick of hearing about. Last year really made us question the status quo, “Is it REALLY necessary to be in a physical location to get the job done?”

The reality is probably somewhere in between a hybrid structure of needing to be physically in an office and having flexibility to work from home.

The key thing is that it has forced us to truly breakthrough the status quo of how work is viewed and performed.

There is no such thing as job security

I learned this lesson during the heigh of SARS back in 2003, but with a global pandemic, industries and jobs that were never really at risk in the past were either severely affected or even completed decimated.

E.g. pilots who can’t move to another airline, but had to re-think their entire career.

Business-wise, it wasn’t all doom and gloom…

…in a business context, it wasn’t doom and gloom for every business nor every industry.

The restaurant, travel, tourism and hospitality industries took the biggest hits (and still hurting).

Oddly enough, some sectors saw record-breaking growth. Look at real-estate prices around the world.

Furniture and home decoration businesses flourished and couldn’t (still can’t) keep up with demand.

e-Commerce sales were massive.

A great time to start something.

How quick can you pivot?

When is the best time to come up with new products/new markets/contingency plans?

During a global pandemic, a business and people’s resilience are tested and put under a lot of stress.

This has forced many of us to come up with contingency plans and learning how to quickly pivot (e.g. hotels offering their rooms for people who need to quarantine).

Which leads to the question:

“When is the best time to come up with new products, enter new markets, come up with contingency plans?”

…the answer is…

…when you don’t need them.

Being diversified in your product offerings, the markets you serve is always best to have when you don’t NEED them.

It’s like having your life vest on while on a boat versus suddenly looking for your life vest when your boat is sinking.

Being grateful.

Ultimately, at the end of the day, such a turbulent year reminds us to be grateful for what we DO have.

Whether it’s family, friends, keeping a job, staying in business, being healthy…

…at the end of the day being grateful for being alive and being able to live another day on this planet is something to be grateful for.

As they say, “This too shall pass.”

What are some of the lessons you’ve learned from 2020?