Each year we make our annual predictions and we revisit them around the half way mark of the year just to see how we are doing.
Here’s the blog with our 2021 predictions to refresh your memory.
With 2021 having lots to do with Covid and Alberta finally “Opening for Summer”, we are a bit behind in our assessment.
But late doesn’t mean forgotten and we are ready!!!
Kind of, it is tough to try and predict or self-assess in a pandemic. And we also know that health and safety are the priority.
Our predictions were:
- A remarkable recovery
- Bring back the brand & center it on experience
- Leverage the pivot
How did we do? Here’s our self-assessment and feel free to give us your point of view too.
Our 2021 Predictions
1. A remarkable recovery
Locally we started 2021 pretty locked down, and we think it lasted much longer than we anticipated.
Even when we knew better, many of us saw 2020 as being defined by a crisis. And we looked at 2021 as a fresh start.
Optimistic to a fault is a flaw for some of us.
In the end, it wasn’t until fully mid-summer that we found personal freedom, and for many businesses, that correlates to their recoveries too.
As we reflect now, we face continued uncertainty with ongoing media coverage on the dangers and parts of the world reverting to lockdown measures again.
The government has also taken action, acknowledging that there are delays for some in recovery. They’ve announced the extension of crucial COVID-19 support measures for Canadians and Canadian businesses.
- Canada Emergency Wage Subsidy,
- Canada Emergency Rent Subsidy and
- Lockdown Support until October 23, 2021.
- The Canada Recovery Benefit (CRB),
- Canada Recovery Caregiving Benefit (CRCB), and
- Canada Recovery Sickness Benefit (CRSB) are also extended until October 23, 2021.
But some recoveries are underway and they may be remarkable?
(Bringing back that optimism, right?)
We’ve seen hiring heat up which is a vital sign of recovery.
We’ve seen a return to the office which may also be a sign that recovery is starting to happen.
We know the IPO market has been strong and will continue.
E-Commerce is on a solid footing for remarkable places in business and home lives.
We have written about these before:
Post-COVID Churn – People Are About To Be On The MOVE In Their Careers
Wrangling the Wrinkles – A Discussion of Remote Work & the Importance of Staying Connected
e-commerce insights leading us out of the pandemic
Overall, we are disappointed in the remarkable recovery to date so we also give ourselves a bad grade on our ability to predict. We were overly optimistic in hindsight, and while we continue to be hopeful, the rest of the year can’t make up for the slow start.
2. Bring back the brand & center it on experience.
We are convinced that this prediction is still percolating and will bring home 2021 and be significant to business in 2022.
We are supporting this with our September Aha with Amplify that will be an important presentation and discussion.
Businesses have continued to navigate volatility, closures, employee wellness, work-from-home, quarantines, pandemic parenting, and so much more, that brand hasn’t been the focus line we hoped for. We are optimistic the tides are changing. We know some have strengthened, and that experience is centric, but we also know that DEI, mental health, the new norm, etc. may take centre stage for the remainder of 2021.
Overall another bad grade for our crystal ball.
3. Leverage the pivot
We talked with CPA Canada in this article on a related topic.
The E-Commerce article above also addresses it.
I think if we got one right for 2021 so far, this is the shining star!!
Fundamental changes have happened within many teams and businesses that will benefit their strategy and growth long term.
Look at us. We hired in Accounting Services the day before lock down in March 2020. It’s now an up and running service line. Not precisely a pivot, but still a good example. We have three fantastic accountant bookkeepers in this department.
We also launched our Fractional Controller service in September 2020. While our first paying client hired us for Controller services, it was still a leap to engage and market the service line, and now we have four excellent CPAs doing this critical work.
So we end our predictions with an A.
Maybe we’ll make 2022 predictions after all? #alwaystheoptimist