This past year has shown so many of us how quickly every field of our lives can change. Business and, especially, B2B companies are no exception.
In the aftermath of the global pandemic, some companies will fail to stay in the market, while others will use the current situation as a growth opportunity.
To see what makes an innovative B2B company in the 21st century, we’ll discuss some key features such as growth mindset, flexibility, outsourced services, and more.
Applying these tips will help your company to stand among the best in the market.
A growth mindset is key for developing and improving B2B business
As the famous saying goes – in business, you’re either growing or you’re dying.
Therefore, the key step of a powerful B2B company is a growth-mindset-oriented leadership. There is no secret that a great leader can inspire the whole team to strive for the best results.
What is more, applying a growth mindset is key when creating your annual and quarterly KPIs and OKRs.
To do that, follow these steps:
- Constantly review your results to see how well you are performing.
- Hiring someone from outside to consult you on your B2B company’s growth. For instance, outsourced financial specialists can deliver you valuable insights in an hour meeting that will shape your company’s future and results.
- Encourage accountability for achieving the top results among different teams.
- Review and adjust your future KPIs and OKRs accordingly.
Flexibility helps your company stay in the market when everything else fails
The global pandemic emphasized the need for B2B companies to be as flexible as possible.
For instance, eCommerce companies selling their products on various channels (e.g., physical stores, online shops, social media, and more) were able to replace 94% of purchases lost due to lockdown with online sales.
Services B2B companies can use this example to inspire flexibility in an organization.
It is more than likely that we won’t be back to the traditional 9-5 office environment after the pandemic. With some people working from home, B2B companies will need to organize smooth processes.
The same will have to be done with providing services to the customers.
In this case, the following is expected:
- Increased collaboration with outsourcing companies. To save money and time and get insights, B2B companies will be more likely to collaborate with outsourcing services providers.
- Online consultations are here to stay. Even when we’ll be back to the more or less old way of working, many meetings continue to occur online due to convenience and time-saving.
Foolproof Financial Management
To ensure proper control of your B2B company’s costs, you have to invest in a powerful and reliable management system.
These days more and more companies switch to FinOps – a management system that brings financial accountability to the Cloud’s spendings.
By opting for this financial management system, you are more likely to see the following results for your company:
- Optimized speed of the processes among different teams, as everyone is on the same page and accountable.
- Improve your business’ cost control.
- Empower your employees by encouraging personal responsibility for the achieved results.
- Increased focus on long-term scalable results for your B2B company.
For a service B2B organization to thrive in the 21st century, it has to be growth-focused, flexible, innovative, and well-managed.
On top of that, more focus should be placed on outsourced services as they help businesses to save money, time, and office space.
The best part is, the money saved can be invested into the further development of business – be it products, marketing, or employees.