Last week, I wrote about the Business Physical and of the 
importance of evaluating a business’ “red,” “yellow,” and “green” areas and proceeding, changing, and innovating accordingly.
As I wrote that post, the most surprising presidential election result of my lifetime took place.
Along with the political change that it represents, so does it foretell a changed landscape of opportunity for businesses of all types and sizes.
This changed landscape starts with the various prognostications on “industry” winners and losers.
Potential winners include pharmaceuticals, infrastructure, and traditional energy, and potential losers include renewable energy, carmakers, and real estate (on fears of higher interest rates).
But let’s note well that these prognostications should be taken with a big grain of salt, as they are made by the same set of pundits that got the election results so wrong to begin with!
But there is one thing as businessmen we can be sure of - that with change in Washington - like with big change of any type - comes big opportunity.
Yes, much of this opportunity will flow from changing federal government policies, but the election result should also be a wakeup call to “reset” on business as usual.
A reset where we reflect on the idea that no matter how long things have been done a certain way - and no matter the conventional wisdom as to how they will continue to go - change is always only a moment away.
As businesspeople, our first responsibility is to find the opportunities in these changes.
And to then act on these findings with velocity and determination.
Here’s three ways how:
#1. Do that Business Physical. As I outlined last week, positive business change starts with undertaking a structured and thorough review of “where things are now” in a business and its marketplace.
A quality business physical drills down into the real value drivers of an enterprise, how to enhance them and how to fend off the constant existential threats to them brought on by fast changing markets, competition, and customer preferences.
Do the physical yourself, or reach out to a qualified advisor to do it for you.
#2. Challenge the Conventional Wisdom. Whatever’s one’s politics, everyone should reflect long and hard on how wrong the “conventional wisdom” was as to the election’s course and result.
As it does in politics, in business echo chambers of opinion and consensus can quickly get formed and hardened
But just because everyone believes something to be so doesn't make it true!
A great exercise to breakthrough “stuck” thinking is to look at our business and our options from a “tabula rasa” place - letting go of legacy considerations, sunk costs, and the various frustrations of things that just didn’t work out - new hires, product launches, sales campaigns, etc.
As we let go, we start to see the choices and opportunities available to us from a fresh and “future forward” place.
Yes, the realities and limitations of our business model and marketplace will come rushing back to us, but it can be surprisingly high ROI (and exhilarating!) how far just a little bit of pure visionary thinking can take us.
#3. Hard Work Trumps All. Whatever one's politics, the energy and work ethic displayed by both candidates through the long and intense campaign season - unceasing 18+ hour campaign days - should be inspirational to all.
And these were a pair of 70 year olds!
Balance is an admirable life goal, but there’s also a time and place for intense “24/7” effort as so many endeavors of potential greatness cannot be achieved by any other means.
So let’s use this “Black Swan’ election as a spur to take stock of where we are, to let go of the conventional wisdom that might be holding us back, and work hard, hard, hard.
And let's all hope, believe, and act to make it so that the New Year and the new regime in Washington brings high ROI change to all of our businesses too!