Is your business strategy, Gametight or Trumptight for the future? | BRITIL Blog Post
I start this posting by saying that I am an avid watcher of Mad Money and Jim Cramer, and I laugh at the sound of the buttons, Trumpstock and NotaTrumpStock. Though funny to hear on the TV, what they represent is actually real and serious.
Today’s reality is, companies on the stock market and large companies are making serious business decisions and developing strategy on re-positioning their businesses from the Obama Economy to a Trump Economy. I am not here to state my viewpoints on either Obama or Trump from a political standpoint. What I am saying is that these business decisions and business strategy planning currently underway can be the difference between making money and losing money.
For the small and medium size businesses, this can be the difference between being in business or being out of business over the next four to eight years. As a former small business executive, I ask the question, do you have a business strategy that is #Gametight or to say it in a more joking way, #Trumptight. Meaning is your business structured to benefit from the changing business environment of the new Administration and the business climate from a businessman in the White House, or are you ill-prepared for this changing marketplace?
For 25 years, I have been working in the Washington DC Area, with both Republican and Democratic administrations, and as a government contractor across 10+ agencies, I have seen this “song and dance” come and go. From this experience, I developed a short list of questions for those businesses, that might be discussing what does it mean or what should I do? These questions include:
- What is your business healthcare plan(s)? Can you weather the ACA changes or repeal?
- How can you gain a technology advantage? Or does your business provide you with an advantage or are you behind the curve?
- How are you differentiating your products or business? Where are your products sourced? Is it time to change suppliers?
- Are there business opportunities for growth? What are the winners and losers in the new Trump economy?
- How are your pricing strategies? And are these strategies providing value?
Every business is different and will have to adopt specific strategies for success, but during these times of change and uncertainty, it is more important to plan, prepare and re-tool your businesses to ensure that you are ready for the future. So, which button can you push for your business? #Trumptight or #NotTrumptight?