Taking Control Amid Political Uncertainty

Larry Coté, Man. Dir. Lean Advisors Inc., CEO, LeanLeader Inc.
Julia Novik, CEO Lean Advisors

Should you Take a ‘Wait and See’ Strategy?

Political Negotiations and Business Impact

There is considerable media coverage surrounding tariffs and the efforts of key political figures to negotiate favourable economic deals for their constituents and voters. These ongoing negotiations are being closely watched by the public, but the waiting and lack of solid information can get frustrating and worrying.

Challenges for Small and Medium-Sized Businesses

While representatives work to position their regions advantageously at the macro level, small and medium-sized businesses are left grappling with immediate survival concerns. The current environment, shaped by tariffs, is severely affecting their competitiveness and profit margins, raising serious questions in some companies about their ability to remain viable.

Even if political leaders eventually reach a so-called fair agreement, most businesses have little knowledge of the specifics and minimal influence over the outcomes. This uncertainty makes it difficult to plan or react effectively, as the future remains unpredictable and out of their hands.

This quote by Warren Buffett (2002) is appropriate –

‘Predicting Rain doesn’t count, building an Ark does.’

Limitations of Relying on Political Promises

Businesses are often expected to trust that politicians will honour their assurances and take care of everyone’s interests. However, as business leaders, relying solely on ‘hope’ is not a sustainable strategy. As all of us know, building a successful business requires hard work, a clear vision, passion, and the expertise and commitment of you and your team. And ultimately, you and your team are the ones truly invested in your company’s future and are best positioned to drive transformation and address current challenges.

Taking Charge Within Your Organization

Rather than waiting and hoping, business leaders should focus on what they can control. Allow politicians to continue their negotiations, but as a leader of your business, you and your management team need to take command of your business’s direction and future.

There are always opportunities to make improvements within your organization and operations. Many companies have significant ‘non-value’ activities within their processes—most have up to 75% of activities that can be classified as waste. Removing these inefficiencies is possible with a deliberate decision to channel your energy, and that of your staff, into effective approaches for identifying and eliminating non-value activities. And what is exciting is, this transformational process can be accomplished quickly using your existing resources and assets and requires only a commitment of leadership.

Benefits of Internal Improvements

By reducing costs and accelerating delivery times for your products or services, your company will be better equipped to withstand the economic instability. These improvements will also position your business to thrive once global economic conditions become more stable and predictable.

Maybe the best action - start building an Ark!