Small businesses took the hardest hit from the pandemic, with reports showing 96% being affected. Almost 60% had to lay off several employees, and nearly 30% had to shut their doors for good. As minority and women-led businesses saw even greater hardships, many were left wondering: What’s next for small businesses?
Fortunately, the future is looking bright as we slowly emerge out of the pandemic and adapt to the new normal. Compared to 2019, Americans created 2.8 million more online microbusinesses in 2020. Although many report still being in survival mode, a large percentage state that they are ready to plan for a digital future. In fact, almost 30% are already working towards it.
The main pitfall that many small businesses fall into is a lack of delegation and organization. Many small business owners take full responsibility for almost every aspect of their business, handling sales, client management, hiring, and much more. Many are too afraid to even take vacation days, and most aren’t even prepared for unexpected success or an influx of clients.
This is why now more than ever it is imperative for digital agencies to scale and organize their business to survive the long haul. Tracking the performance of aspects of a business like workflows, tech stack, documents, training, and metrics can make or break a company in today’s climate. Create a complete and optimized business system, delegate with ease, and play to your strengths with these new methods for business ownership.