Resolutions Every CEO Must Fulfill in 2021

The world is preparing to welcome 2021 and looking forward to a blissful year. However, things always seem pleasant when we look at them from a distance. While the global economy is struggling with one thing or another, in particular, the CEOs are having a hard time. And these CEOs are not only the ones who are running the Fortune 500 companies but also those who are heading medium or small-scale businesses. The surprising part is that even the startups are finding it complex to keep their ships sailing. 

The time has passed by when you could enjoy the liberty of not taking your business seriously. This particular moment is the one when you are required to have a look at the resolutions that every CEO must fulfill in 2021. And this quote says it all about the dare that you need:

There’s an entrepreneur now, scared to death, making excuses,  saying, “It’s not the right time just yet.” There’s no such thing as a good time.

Come out of your cocoons and look the challenge dead in the eye if you desire to see your brand flourishing. Now let’s see what things the CEO within you can do for your brand. Read on!

1. Develop a multi-plan approach to gather production clarity/updates in realtime

Growth will come as a result of gaining clarity on production. However, brands are getting complex and the frontline is getting lost in that matrix. The corporate world advocates survival of the fittest. If your brand isn’t capable of keeping a track of its production and analytics in real-time across all the plants, you are ultimately going to lose your share of the business. 

A Forbes article says,”49 percent of respondents said analytics helps them make better decisions, 16 percent say that it better enables key strategic initiatives, and 10 percent say it helps them improve relationships with customers and business partners.”

Keep this task on your to-do list and mark the beginning of 2021 with a professional and enthusiastic mindset.

2. Focus on obtaining clarity on supply chain 

Supply chain traceability is an underestimated aspect of a brand’s reputation, but determines the success rate at a massive level. This year, you need to stay proactive and watch every minute factor that can make or break your brand’s image. 

Knowing where the inventory is lying, in what quantity and tracking it while in transit is imperative for a CEO to consider. Unless and until you are well aware of your inventory, you can never really get through the competitive world. To do this, you ought to seek advanced traceability solutions. Additionally, make your team understand why traceability is important in the supply chain and ensure guaranteed results. 

3. Prioritize making of sales report

Every business works to make sales and earn profits in the long run. But it must be confessed that most of the CEOs have their plates full and don’t get enough time to pay attention to sales reports. This shouldn’t be the case as having a sales report for every quarter, half-yearly or yearly will keep you ahead of the curve.

Look for the weaker areas of your brand’s performance so that you can strengthen them. Besides, you can also identify the spheres that are performing well. Take this resolution to have stringent policies in place regarding the making of sales reports and keep yourself educated about sales growth. Also, pledge to learn how to increase product sales through QR code technology so that your sales report shows an upward curve. 

Note: Digital solutions like QR code scan allow you to boost your sales. Distributors can scan the QR code on the cartons and sell it to retailers while keeping proper track of the sales. 

4. Abide by the principle ‘Consumer is king’ 

Modern world calls for modern solutions and consumers are smart enough to switch to a brand that offers them more value and rewards them for their loyalty. Sadly, not every business owner regards this to be important.

Keeping consumers delighted will introduce you to a never-ending treasure. While B2B models always strive to prioritize their consumers, it is the B2B2C model that is emerging and inching towards working to keep consumers happy. 

Acquire them, retain them and reward them. This is the only mantra that can make you stay afloat even when other businesses are sinking at the close of 2020 or beginning of 2021. There is too much uncertainty due to COVID-19 that prevails across the globe and it’s time for brands to provide consumers what they missed in 2020. 

77% of brands could disappear overnight and no one will even care!

Would you like to see your brand being a part of this percentage? Be bolder than ever in saying NO to this question and make 2021 the most beneficial year for your brand. 

Genefied is the trendsetter when it comes to rendering digital solutions to brands. This time shall never come. Connect with us and see how we can glorify your brand’s name in 2021. 

P.S. Stay hooked for the upcoming blog post that will walk you through our solutions and give the best start to 2021. 

Till then, a very Happy New Year from our family to yours