Many businesses will have been through a tough and transformative period through 2020 and into 2021. In some cases, businesses have had to update, change and pivot just to survive – and this means having to rethink the core mission behind your enterprise.
As you work through the challenges of the pandemic, your business is faced with a new kind of business reality. It’s a world where buying habits have changed, consumer expectations have evolved, online shopping has boomed and e-commerce is now a far more dominant force.
To cope with these changes, it’s likely that your business has had to evolve. But do you know where you’re going and how it’s impacted on your underlying business mission?
Embracing the need to evolve and change
Being able to react to changing circumstances and to evolve your business is one of the key capabilities you need as an business owner, entrepreneur or CEO.
The ability to articulate your new business objective is a fundamental need. Having a clear outline of how you’re pivoting and why will help you to understand the evolution of your business – and where you’re likely to go next.
Some key questions to ask yourself will include:
Nothing stands still in business, so there’s always value in taking the time to step back and reassess your business direction. However you’re fairing in the continuing Covid world, taking the time to review your business purpose and planning is time well spent.
Contact your WDF Professional team member if you would like to discuss further how we can help you. Phone 02 6921 5444 or email accountants@wdf.com.au
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