The end of a year is often a time for reflection, of taking stock, and planning for the new year ahead. And after another immensely challenging 12 months for business owners, there will no doubt be much to learn from 2021.
That’s why SmartCompany Plus asked 24 entrepreneurs and business leaders about their biggest lessons from this year.
From personal growth, to observations about the state of the world, here’s what they had to say.
Simon Griffiths, co-founder and CEO of Who Gives A Crap
If we’ve learned anything over the past 12 months, it’s just how interconnected the world is. The disastrous impacts of climate change are becoming a part of our lived experiences all around the world, from bushfires, to droughts, floods and rising sea levels.
For me, the biggest takeaway is that we need to act with empathy for each other and the world we live in. What COP26 and countless climate reports have laid out is something that we’ve known for a while—governments have failed us. We can’t afford to wait for their help to turn climate change around. We need to take action now.
If we’re ever going to get to a place where we can reduce the impacts of climate change, then every business must be making an effort to reduce their emissions and consumers must drive change in the way they choose to spend their money.
Ultimately, it doesn’t matter how profitable your business is in the long run if we don’t have a world that’s worth living in. That means that we need to move away from the mindset that businesses exist purely to maximise profit and start thinking more about their role in maximising social and environmental impact.
Sadhana Smiles, director of Harcourts Move and chief executive of Real Estate Industry Partners
Over the last two years, our industry has required agility in our leadership. We have led our businesses through a global crisis while experiencing a property boom. Just about every expert in the country had predicted markets to go over a cliff, yet none of this happened.
Leaders had to pivot quickly and virtually overnight turn their businesses remote, keeping teams connected and ensuring their clients were kept up to date.
At the same time, digitisation was almost forced upon us. We had all the tools available previously, however, we had never really embraced them. Over the last two years we have seen things like online auctions, virtual tours, contactless move in’s, virtual routine inspections, paperless offices become the norm. Not just for our industry but for our clients as well.
However it wasn’t just the processes and technology that we had to be innovative around, our workplaces radically changed as well. For our employees – current and future – expectations have changed and to remain competitive we need to normalise working remotely.
For those of us who experienced extensive lockdown, we also had to support our people through various stages of lockdown fatigue and at the same time managing ourselves. We will need resilient leadership to form up the next normal workplace. This isn’t something that can be rushed, nor will it be the same for every business.
As we finish up 2021, what we need to work on and get good at in 2022 is creating and providing flexible workplaces for our people that still have structure and connection to the team and culture. We need to clearly understand our peoples priorities and how this fits in with the business. We need to provide certainty on what the next normal looks like and be ready to pivot and change elements that don’t work.
We need to be able to articulate to our people what the business needs from them now and in the future, and lastly and perhaps the most important of all, to have a wellness program for our people.
Phil Leahy, founder and CEO of MedCart
Following the challenging year of 2020, this year reinforced the importance of remaining agile and staying calm in storms, and that opportunity is at its best during times of disruption.
My biggest takeaway from 2021? You are never too old to learn new things and do them well.
Renee Wallace, owner of Birch Restaurant
The three key takeaways I have learnt throughout this year are: stubbornness drives resilience, a consequence of creative perspective is opportunity, and satisfaction can be determined by choosing joy.
This has been a period where, as a business owner, you have been dictated as to how you could [if at all] operate your very own business. A period where each day the unanswerable questions, mounting uncertainties, non-existent timeframes and obligations surmounted to much more than any business owner ever envisaged.
Yet having an unforgiving mindset that, collectively as a crew, we could design, create, develop and deliver solutions within these parameters, has resulted in our redefinition of what a restaurant model could be. For us, It has subsequently created a model that is more satisfying, sustainable and creative and proving it has even more potential every day.
Drew Haupt, co-founder of WLTH
The most significant thing I learned this year is that it is possible to put people and the planet before profit.
Bonding with other business members over our shared love for nature and the outdoors, I realised that business and the environment could work together to address sustainability issues.
Historically, businesses have responded to the danger of climate change by keeping cards close to their chest. This year, a growing number of leading companies are going green in the fight against their environmental footprint to improve their reputations and even bolster their reputations.
Claire Dunne, founder of Graziher
My biggest takeaway from 2021 (pandemic and pregnancy) was to learn to lean on others and let help in. I’ve always found, much to my detriment, it is hard to ask for help. I’ve always been that person who was trying to do everything in the business, while in turn just creating bottlenecks everywhere.
With being stuck in New Zealand for nearly two years, falling pregnant and having crazy nausea everyday for the first 20 weeks — oh and that thing called COVID-19 — 2021 has been one of my more vulnerable years as a person and with the business. I learnt to let the Graziher team take on more responsibilities, and to lean on my cohort of amazing other entrepreneurs who I am lucky enough to be surrounded by.
In reflection, when you build a strong team, the business and brand becomes stronger.
Ben Thompson, co-founder and CEO of Employment Hero
Over the past two years we’ve seen more change and disruption than in the past two decades. While this can be a hard pill to swallow, it also means there’s more opportunity available than ever.
In saying this, it’s also becoming a lot more competitive and the pace of doing business is faster than it’s been in the past. This is demanding a lot from businesses.
We need to continue to build resilience to help us bounce back, pivot and/or create new solutions when things don’t go according to plan. If 2021 has taught the business landscape anything, it’s that to stay in the game next year, business leaders will need to remain flexible, agile and once more really put in the hard yards.
Laura Hall, founder of Phylli
My biggest takeaway for 2021 is to have a strong set of brand values and constantly refer back to them with everything you do. Because on the dark days, those values will remind you of why you are working so hard, and on the sunny days, it’s what will make people reach for one of your products instead.
Martin Herbst, CEO at JobAdder
My biggest takeaway from 2021 is gratitude for the little things we took for granted as human beings, particularly when it comes to real connection.
In the middle of the lockdown I remember the joy of being able to just take a walk around the neighbourhood with a team member who lived nearby. After the lockdown in November, I relished the uplift I got from a group hug with our team at our first in-person All Hands meeting in four months. I remember my delight in being able to chat with a long-time customer over coffee. And, most recently, I was thrilled to hop on a plane down to Melbourne to actually eat in a restaurant with colleagues and stay at a hotel. Imagine that!
COVID-19 may have taken many things away from us but at least it gave me enormous appreciation for the little things that keep us connected as people.
Jo Mercer, founder of Matilda Life
It was during the second lockdown in Melbourne in 2020 when I could see the impact the lockdown was having on local business — the drycleaner had virtually no work, a number of local clothing shops closed and didn’t reopen, and many small businesses were struggling. The pandemic saw winners and losers (some businesses had bumper profits due to government subsidy and landlord assistance), yet others were not so lucky.
It was an eye opener in terms of how unfair and harsh business can be, and how important it is to support local business if we want to see it survive.
I saw market research that said over 50% of Australians want to buy Aussie made clothing and footwear, yet it is hard to find. Manufacturing in Australia has been declining for the last 20 years, with skills and jobs moving offshore. It struck me what a tragedy it was that customers want to buy local but simply can’t because we have so little manufacturing left – and if business didn’t start to support the remaining manufacturers the skills would be lost permanently. This can’t be a good thing for Australia.
Paul Salmon, founder of moodflx and AFL Hall of Fame member
2021 made all of us realise that there is a mood revolution on the horizon, and it couldn’t have come at a more important time when more people are working from home than ever before. Mood has a powerful effect on everything we do.
It’s now time we celebrate mood from all angles and see it for the amazing untapped natural resource that it is, and companies now have that data at their fingertips.
Michelle Gallaher, CEO of Opyl
Alone time to think and reflect delivered the biggest impact for me in 2021. Instead of minute-to-minute problem solving and chairing meetings in the normal course of a working day, the relative isolation provided time and space to spit-ball ideas and imagine on a large scale.
As the Opyl vision definitely got bigger and bolder in 2021, the pandemic gave me the kick-start I needed to get my head out of the weeds and into the structure and future of the business.
Trevor Wistaff, co-founder and CTO at Zepto
My biggest learning can be summed up by this quote by Howard Ruff: “It wasn’t raining when Noah built the ark”. It drove home the idea that creating innovative solutions means taking the time to spot the gathering clouds. Trust yourself and your instincts.
Melissa Wilkinson, founder of Personalised Favours
Your business model must be quick to adapt to market changes. During the 2021 lockdown, we lost 60% of our wedding business overnight so we had to pivot quickly and focus on gifting for other special occasions such as birthdays, Mother’s Day, Father’s Day and Christmas.
My takeaway is to be proactive not reactive. Plan ahead and take advantage of market changes and opportunities. Always look after your mental health and keep in tune with staff morale. It’s crucial to sustain a positive working environment during these hard times.
Dr Ali Karami, founder of NudeHerbs
I strongly believe to build a successful business we must start small.
The year 2021 was a big stepping stone for many businesses, including NudeHerbs. We moved from the kitchen-scale production into our own production facility, worked extremely hard to get happy customers, and successfully raised funding that supports our next phase of growth.
Always start small, stay focused, and be ready to make sacrifices.
Helen Tarrant, founder of Unikorn Commercial Property
Ignite the passion in your employees by making them a part of your growth journey by including them in more than just their job descriptions. They will become advocates for your business. For example, show your employees the impact you’re having on your customers.
Involve them in the deal, or in events so get to see for themselves – get them to walk the walk and they will become passionate.
Personally, my takeaway for 2021 is ‘letting go to grow’. You have to let your team make the mistakes so they can learn, but it can be incredibly frustrating. Remember that if they don’t do it, they won’t learn, and you can’t leverage the business without growth.
Adam Boote, director of digital and growth at Localsearch
In 2021, it became so clear how a business of any size can’t be complacent and ignore what the big tech companies are doing. The ripples felt from the Apple iOS 14 privacy changes affecting mobile ads, Facebook pulling news-type content, and Google threatening to pull their products from Australia were huge.
It shows how connected small businesses are to big tech and marketing innovation. Next year we feel we’re going to see a wider variety of payment options at more businesses, not just in retail.
Alex Hattingh, chief people officer at Employment Hero
Uncertainty is a challenge for any human being. I never took this for granted, although 2021 drove home for me that you cannot over-communicate during times of uncertainty and change. People need to hear from the leaders of the business regularly. Experimenting with methods of communication to cater to all your team’s needs is also important; everyone digests information differently; while some love videos, others like live All-Hands meetings and others prefer things in writing.
I experienced many people going through very tough personal journeys through 2021. The importance of listening, opening up to and asking your team about themselves and their lives, is vital to their mental health. Empathy and understanding as a leader is of higher importance than I ever realised.
Human connections matter (even if online / virtual), so allow yourself to be vulnerable in front of your own team to establish psychological safety. Personally, my own mother had a health scare that ended in open heart surgery where we could not even go into hospital to see her pre or post her seven hour surgery. That was emotionally challenging, to put it lightly.
Juggling remote work and COVID-19 in the people and culture space was a challenge in itself this year. Advocate as hard as possible for your people, your biggest asset. While this has always been my mantra, this year had a lot going on that this became so prominent.
Jeremy Kinstlinger, director and co-founder of Global Prime
What has really stood out to us as a key learning from 2021, now more than ever, is the need to operate with agility. All of your ‘well thought out’ plans can change in a second, so being able to think on your feet, adapt to any scenario and make important decisions swiftly is essential to business growth and success in unpredictable times.
2021 also really brought home how important it is to look after your team, as your employees are the business and with the right team by your side you can weather any storm and come out the other side stronger.
Vanessa Stoykov, founder of Evolution Media Group
2021 for me was about being true to myself, and changing my business model to be in line with where I believed I could make the most impact. I made the decision to invest my time and capital into building a defined learning program, driven by unique and highly entertaining stories.
As a media company and publisher, we are now ahead of the curve for 2022. If it were not for the time, space, and the forced rethink that COVID-19 provided, we most likely would not be in this position. We would have been too busy in our traditional production business to take the time and space to create.
Nic Brill, COO of Poolwerx
Following another year affected by COVID, we’ve really focused on our values, probably more than ever before — energise, people first always, do the right thing, find the better way, and dare to succeed.
In every time of hardship and economic correction, people and resilience pull us through, in a way that is unrivaled by any pivot or strategy or technology.
The power of people coming together in the business community, as genuine partners and friends, has been the principal point of difference for success in 2021, and a learning to take forward.
Nicole Gilliver, founder of Ewe Care
2021 has taught me many things in business. It has taught me to plumb the absolute deepest darkest depths of my neural plasticity to solve and resolve at lightning pace. To embrace on some level the fears that inevitably come with the immediate perception of the loss of control and its absolute unfamiliarity, even while surrounded by the most familiar.
Ultimately 2021 has honed empathy in me and forced me to assume less and question more, especially in business. In doing so it has given me the resolution I needed to work beyond fear and to use it as a motivator, not an inhibitor.
Ron Ferdinands, co-founder and chief customer officer at ilume
2021 has gone at warp speed. We have learnt it’s very hard to be truly customer-centric, but the up-front thinking and investment delivers 10x or 20x returns.
Not everything needs to be ‘frictionless’. Sometimes designing for complexity helps build something customers value and others find difficult to imitate.
In-person interactions accelerate collaborative work and build richer bonds between teams, and being a purpose-led company is galvanising, as it provides the glue between our culture and performance.
We are also grateful for the ‘invisible’ people in our lives who helped us get through it — our children’s teachers, our local GPs, our family dogs. (And yes, dogs are people, too.)
Farzeen Quadir-Hegde, head of marketing at SYS BG, ASUS
In 2021, time and time again, I have been floored by the amazing resilience Aussies have displayed.
Our product developers, marketing team and beyond, have all shown great strength in their respective areas. This agility has meant rethinking on many fronts and one of them was to adopt a more forward-thinking hybrid approach and events. While in-person working and events will remain on offer, in lockdown or not, this digital focus has proven highly beneficial in a world that is constantly changing.
Regardless of where we are, we’ve recognised that at the core of what we do and what keeps us going, is our customers. For our team to be optimised in the new normal and through enduring lockdowns, we also had to get closer to understanding our customers and how they were changing too. This customer centric approach has enabled us to connect to people throughout the last year and drive greater innovation than ever before.
Comments