Politics. Many people think of it as a dirty word. But, the truth is that the activity is not dirty — that’s just how some make it. As Plato said, “One of the penalties of not participating in politics is that you will be governed by your inferiors.”
So, why should the businessperson participate in politics? Education. It works two ways. First, you must keep yourself knowledgeable of current laws and on top of what is pending and what our elected officials are thinking. In Florida, so far this year there have been 267 new laws enacted and three new constitutional amendments as of June 2016. How many of those affect your business? Well, unless you and your team are paying attention, one of them may bankrupt you.
There was a company in North Florida that was growing like a weed, spending cash and building, and then it bought a building at about the same time that several new laws were passed significantly restricting the sale of the company’s only product. This company closed its doors less than six months after the law, which the company knew was working its way through the process but discounted the impact on sales, was passed. A law can take a year from the time it is proposed to be signed — sometimes longer, but rarely less than six months. The company ignored the political process and is no longer in business. If its leaders had considered the potential impact, maybe they would not have bought a new building and instead banked their cash for the rainy day that was coming. Now when you go past their nice building, all you see is a sign that says “Out of Business.”
The second way the businessperson participates in politics is by educating the politicians. I know another North Florida business that had a vision to grow its opportunity and the community, but needed some elected officials to get on board with the vision. These politicians all had their pet projects, and we all know about pets — don’t tell me about yours, because mine is better. How did this business get the pols to take the blinders off and see how this vision was good for the community and good for them? This team had multiple meetings, both one-on-one and in public settings, to educate them on why this was a good idea. It brought in locals who had bought into the business’s vision to share it with the politicians. The business’s strategy worked; in fact, it worked so well that the politicians even kicked in some funding to help make the vision happen.
So, how does this play out in a practical way for you? You must be active in following what is happening in the political business spectrum. You need to challenge everyone who has a vested interest in your company to search out what is going on outside the glass bubble you call your office. You must be actively seeking out the politicians who can impact your business and your life. Then, go meet them. My experience has been that they want to hear what you have to say if you can show them an effective plan that benefits them and the community. Not educating yourself and your elected officials too often results in closed doors.
MARTY WYNKOOP has been mentoring over 30 years and is a veteran entrepreneur. His experience includes financial and business operations with both public and private companies, including the management of turnarounds, financial restructurings, integration of acquisitions, strategic shifts in core operations and helping grow early stage companies. Mr. Wynkoop’s experience includes being CEO, CFO, president, and VP of sales and marketing. Mr. Wynkoop is on the boards of directors of several companies. Marty is married to Patricia, and they have four children and six grandchildren. Today, Marty’s consulting firm, KoopCo LLC, assists and mentors small companies and startups in strategic growth, financial strength, sales, marketing development, regulatory and quality compliance. You can reach Marty Wynkoop at [email protected].