Which Small Businesses Will Thrive in 2021

Is there a common thread that all small businesses have executed to survive and thrive in the pandemic?

On The Small Business Radio Show this week, Rhonda Abrams, USA Today columnist,  has helped millions launch and grow successful businesses. Her first book, “Successful Business Plan: Secrets & Strategies”, now in its 7th edition, is America’s bestselling business plan guide and was recently named one of the 100 best business strategy books of all time. Her newest book, “The Sh*t’s Hit the Fan: Now What?!” provides small business owners with 99 do-it-now recession-proof tips to enable them to survive and thrive in any economy.

Rhonda Abrams Interview

Rhonda says that last year’s pandemic was “almost an extinction level event for some small business segments like in restaurants”. Those companies that succeeded in surviving in 2020 “did something”. As Rhonda describes, “they were not waiting for this to be over… some restaurants moved out into the street, made meal kits, or did take out. Some food suppliers sold directly to grocery stores…others just said they were closed and did nothing!” She adds that being committed to surviving is something that entrepreneurs are good at; “It’s an attitude- this is not going to kill me!” Rhonda also suggests finding financial lifelines from government aid and also to take time to care of yourself emotionally since this time is very draining on everyone.

Rhonda believes that every small business owner needs to take what they are doing now and change it somewhat. She says to look at “your resources, talents, inventory, and relationships and ask- what else and where can I sell them? Rhonda suggests talking to your customers as a partner and ask how their needs have changed during the pandemic.

Rhonda hopes that small business people see themselves as part of a team especially by shopping locally to support their community; “We need to remember it’s an ecosystem and we need to stick together.”

Listen to the entire interview to make your plans for 2021.

Image: Rhonda Abrams