Five Reasons For Business Optimism in 2021

By now everyone knows that vaccines are in circulation and are expected to blunt (hopefully eventually end) the adverse impacts of the pandemic of 2020. If this fact alone is not enough to brighten the outlook for business as we enter 2021, our list below highlights five additional items for optimism.

1) Pre-pandemic demand for products and services still exists

While there may be a few exceptions, the demand for many products and services that existed prior to the pandemic still remains. The manner in which products and services are delivered and how business is conducted may have changed, but fundamental needs still exist to be met. Decreases in demand due to temporary economic weakness are likely to subside and improve throughout the year.

2) More freedom to live and work anywhere

Many workers have discovered new-found freedom in their ability to work effectively from any location with an internet connection. Virtual doesn’t replace face-to-face interactions entirely, but it can reduce the necessity for continuous face-to-face operations. Does anyone really miss daily commutes in rush hour traffic?

3) Expanded access to talent for organizations and to jobs for workers

The now enhanced ability for employees and teams to work virtually expands the talent pool for employers as well as potential job prospects for employees. Geographic proximity to a place of business has lessened even more in importance among hiring criteria. Both employers and employees have the potential to benefit by this.

4) Learned adaptation skills

The ability for organizations and individuals to adapt to a changing environment is a skill in itself. Some businesses and people adapt better to change than others. Organizations and their employees who have improved adaptation skills as a result of the events of 2020 will be better prepared to evolve and change more easily when required to in the future. While our hope is that the necessity to change will be less dramatic in 2021, continuous change to some degree is generally inevitable.

5) The survivors are among the fittest in their categories

Businesses that have weathered the challenges of 2020 and remained viable can take some satisfaction in knowing that their organizations are among the most resilient and therefore best positioned for the future in their categories. As the pandemic bottoms out, if it has not already, their prospects should steadily improve as a result of their strength.