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News & Insights

Tuesday, 29 December 2020 | Blog

The Great and Bad of 2020

The year 2020 was not what most of us had hoped for or expected. Many experienced financial hardships or worse – other personal losses that reset priorities and tested the stuff we are made of. Some businesses thrived, while others struggled to survive or closed down altogether. Business owners that were able to survive took steps that demonstrated compassion for their teams and innovation for their business. The innovation was represented in cost-cutting, cash management measures, and investment that added resilience for the business that will benefit them for years to come.

As one year closes out and another begins, I like to take a step back and think about relationships, personal development, and achievements for the year while setting related goals for the next. No doubt that 2020 was one of the most challenging years for millions. But let us not remember the year for what was lost versus what was gained. In tough times, we become stronger. What we saw in 2020 was that our businesses can also be stronger for these challenges.

For me, 2020 was a year in which relationships with family and friends were bolstered. Professionally, I experienced challenges and was rewarded for taking the leap to start Vector Advisory. I also felt fortunate to work virtually throughout the majority of 2020, allowing me to spend more time with my wife and 5-year-old daughter. The establishment of Vector also represented significant personal development as I invested personal time to create my new firm and challenged myself to leverage all I have learned to get the business off to a fast start.

How will you reflect on 2020? As you head into 2021, what will you take from what transpired in 2020 to make yourself, your team(s), and your business(es) more resilient? The time is now to define the transformative initiatives with measurable milestones that will guide your business to greater growth and greater profitability. So consider how you as a leader will optimize how you use your time in this next year. How you will invest in, develop, and challenge your team and your business to produce incredible result?  Commit to making 2021 the best year ever!

As you consider how you will address your most complex and transformative issues and initiatives in 2021, please consider making a call on our seasoned professionals at Vector Advisory. From M&A to financial process and control improvement to fractional and interim financial management – let us be a resource for you to manage through, navigate, and achieve your goals. Regardless of whether you engage us, we look forward to growing our relationship with you, being a sounding board for you as you define your vision, and generally being a resource for you and your business.