The votes are in and one result is clear: the country remains deeply divided.
Instead of hand wringing and more vitriol, smart business leaders are instead looking for ways they can continue to steady the ship, serve customers, and find ways to connect – regardless of political affiliation.
One question looms large among business owners: how will leadership changes impact my business?
It could take time to know which policies will change. Many anticipate higher taxes and increased regulatory requirements. How quickly that will come is still unknown. We’ve yet to see (in any administration) change implemented quickly despite the elaborate political theater that surrounds all politicians.
In my view, as business leaders we have a clear advantage. While policy changes slowly wind their way through the political process, small business owners can move with speed. As business leaders, we can quickly flex, adapt, or pivot – something we have all been doing a lot of this year and that quick action will be a capability that will continue to serve us well into the New Year.
So, what you should you do to help your business and your teams thrive amid uncertainty?
In my view the way forward harkens back to the fundamentals of any business:
· Generate as much income as possible
· Actively manage and control your expenses
· Take excellent care of your employees and customers
· Keep good records
· Manage your cash and lending relationships because they are like gold
· Promote and advertise when prudent
· Innovate, change and investigate new ideas
o Take time to create new plans.
o Conduct a SWOT analysis and anticipate which threats could be transformed into opportunities
o Cast aside divisive political ideologies so you can clearly see new opportunities
· Stretch yourself
o Find ways to do more than you thought you could, do the things others do not want to do and never give up.
· Work like a dog and continue to run your business to the best of your ability.
In other words, just keep doing what you have been doing.
Finally, remember each business exists to serve all its customers. Be cautious of brandishing labels that could easily alienate half your potential customers. Instead, focus on the areas where there’s common ground and allow your business a way forward.
The election is over, now, get back to work!