What is driving the recovery of my sector? What have I improved in my processes in recent months that have become a differentiator? How has my consumer changed and what can I offer them?
Entrepreneur’s New Year’s Guide
Let the business resources in our guide inspire you and help you achieve your goals in 2021.
February 3, 2021 4 min read
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The numbers do not lie: according to the restaurant union, only in the State of Mexico before the pandemic there were 70 thousand restaurants registered, which generated 340 thousand direct jobs; however, 10,000 units have definitively closed, with a loss of at least 50,000 direct jobs.
The sector is debated in options that seem impossible: open or close, operate or die. In my experience as the founder of Justo , my first advice is: stop looking at the horizon hoping that everything will return to where you left it. As much as this situation seems like a pause, there are businesses and entrepreneurs willing to move forward, with enthusiasm, optimism, the ability to learn and adapt.
In the absence of a crystal ball to anticipate the future, we can recognize those elements over which we have control and to be able to visualize them, let’s start by asking ourselves powerful questions that allow us to open our panorama: What is driving the recovery of my sector? What have I improved in my processes in recent months that have become a differentiator? How has my consumer changed and what can I offer them?
These questions can help us open up the possibilities, as well as allow us to be in control of our processes. For this it is essential:
* Refocus: It is likely that we continue to consider that there has been no change in our sector or our consumers; So the first thing is to know what the data tells us, because it will allow us to review the facts instead of the opinions and really be able to establish business objectives that respond to the new needs of our clients.
* Digitize: According to a KPMG study, 80% of companies advanced their digital transformation in the last year, which implies that the current environment has more connected users and businesses; the trend – and the circumstances themselves – tell us that this situation will deepen, so digital services will be key for businesses to build their own data, which in turn, will be the raw material to determine business objectives.
* Innovate: One of the main frustrations with innovation is how to make the journey from idea to action a reality and my main advice in this regard is: ask yourself what aspects you want to change and what you want to obtain: it can be an administrative process, delivery, the way you contact your users. When you set objectives -and innovate is one of them- it will allow you to stop responding reactively to circumstances and to have a direction towards which you want to take your business.
* Speed and adaptation: Digitization has to respond to the complexities of the new environment, changing trends, new types of users in an agile and simple way. We know: the complexity that businesses now handle is increasing, that is why technological allies are key to support businesses to navigate quickly on their sites, facilitate user interaction with the page and achieve a pleasant experience from browsing until food reaches your table.
* Don’t forget support networks: Repeat after us: “I don’t have to do everything myself.” According to the Inter-American Development Bank ( IDB ), more than half of the entrepreneurs tried to solve the pandemic crisis only with their work team, without resorting to someone else, losing sight of a key factor: cooperating, among allies, suppliers, customers and even competitors: we are all part of the value chain and together there are more possibilities to build a new sector that achieves new strengths in the face of this unprecedented situation we are experiencing.
Today more than ever, entrepreneurs are characterized by generating change, rapidly developing innovative solutions that transform crises into opportunities. As on other occasions, unity in the face of difficulties, intelligence, creativity, will and passion for what we do will be necessary ingredients for our recipe for success.