A new year and a fresh start

Most will want to delete 2020 from their memories for good! With Covid-19 came one of the worst health epidemics of modern times, which forced a shift in the way we work practically overnight. Bosses were forced to make potential business defining decisions at a moment’s notice. Work practices for many took the view of survival rather than growth. With the constant lockdowns and changes to tier structures across the country, many thought it impossible to plan for the coming year; those people were wrong.

This blog series will highlight some of the issues that arose last year and what you can implement to ensure they are not repeated, allowing you peace of mind when it comes to your business in 2021.

These times we are living in have highlighted some otherwise less obvious issues contained within the way we do things. Some challenges, as minor as they were previously, have been exasperated due to growing pressure forced by Covid-19 and are threatening businesses opportunities at growth going forward.

Luckily, businesses did what they had to in order to continue trading. We used home PC’s to help us do that, but, unfortunately, that presented us with a number of other challenges.

.

The wrong IT and what it can mean for business

The rush to set up offices within our homes led some employees to be using the wrong tools – some of which were provided by the boss, others by themselves. Outdated software or hardware can have a detrimental effect on business functionality and also security.

Many employees were forced to use outdated software or hardware – leading them to find their own methods of working. This is referred to as ‘Shadow IT’.

Shadow IT is IT that the employer has no control over – it increases risks as there are no organisational requirements for control, documentation, security, reliability, etc.

Long term prolonged business functionality and growth need to be at the forefront of your thoughts, and decisions need to be made to achieve this. Last year has pushed many otherwise successful businesses into reviewing their strategies on how and where they work and what changes they need to make to their service delivery going forward.

.

The new strategy going into 2021

Many firms are considering a transition to an entirely remote team. Some are contemplating a partially remote workforce in case of another lockdown, and some have realised that a transition to a remote workforce is not for them. This does not necessarily mean they are not going through a transition as the year could have highlighted issues that otherwise would not have been noticed or would not have needed rectifying.

Here are two business challenges made more apparent by Covid-19 and why you should resolve them as soon as possible.

The two challenges:

1. Lower risk – increase levels of security and compliance
2. Increase profit and productivity

.

Why address them?

1. Lower risk – increase levels of security and compliance

You will feel a number of impact points if you do not address these challenges, including:

• Loss of time
• Loss of data
• Loss of reputation
• Loss of clients

And if the above is allowed to continue this can then lead to the most important of all:

• Loss of revenue

.

What can lead to these impacts?

The risks that can lead to these impacts:

• Cyberthreats

Cyberattacks have the ability to cause untold problems within a business; these range from the theft of sensitive, valuable information or even cause electrical and equipment failures if the attack is sophisticated enough. Cybersecurity threats come in multiple different forms – Phishing emails, Malware, and Ransomware being some of the more popular methods preferred by cybercriminals. More attacks with various levels of ability emerge daily – all with different methods of causing carnage to your business.

We all know the importance of protecting against cyberattacks. We should always keep an eye on our cybersecurity – it can mean the difference between a successful thriving business and a failed one.

Cyberattacks can mean loss of data, leading to reputational issues potentially causing loss of revenue when customers stop using your services.

• Reduced pressured resources

Businesses need to use resources as efficiently as possible; it is essential to find a balance of resources at their disposal to make a fully functional, thriving workplace possible. Covid-19 has made these pressures more apparent. This has been made even more difficult with some being forced to cut their workforce, in turn lowering production, meaning the effective use of resources could be at risk of not being achieved.

Not having the ability to use resources to their full capabilities (money, staff, time, etc) can have a derogatory effect on the reputation of a business. This can lead to lower revenue with fewer people using your services.

We will now take a look at the second challenge, the impact of not rising to the challenge, and the risks that can lead to that impact.

2. Increase profit and productivity

.

The impact if not remedied

• Loss of time
• Loss of reputation
• Loss of clients
• Loss of revenue

The risks that can lead to these impacts:

• Poor use of resources

As mentioned previously, pressure has never been higher for the average workplace to keep things going as fluently as possible. Understandably, business owners are doing whatever is necessary (in some cases with a considerably reduced workforce) to keep trading through this most difficult and uncertain of times. However, working with a ‘deal with it as it comes’ approach does not allow your business any chance to grow and thrive.

Not using the resources available can mean tasks take more time, meaning you are not being as productive as possible. Time wasting could lead you to fall behind, which triggers a series of events leading to the client taking their business elsewhere and, again, causing a drop in your revenue.

• Not moving with the times

Being stagnant in any part of your life can be unhealthy, and this is no different when talking business. In some cases, continuing the way you always have is the only way to function but, for most, using the right technology and with the right support to get the most out of that technology, your business could thrive and expand.

Your business could be left behind with regard to the amount you produce, the quality of what you produce, and the effort involved in producing it if you do not use the best tools available. If your competitors are using modern techniques for productivity, they undoubtedly will be offering a better-quality product to customers, in turn, leading to a potential drop in your revenue when customers go to your competitors.

If you address these issues correctly 2021 and the future can be prosperous despite the year we have all had to struggle through.

Moving on now to the second and last blog in the series, we will explain how, by changing the culture surrounding your workplace, along with the correct tools, you can solve these two problems, in parallel with others, to improve the way your business is run.