Legislative and regulatory changes can cause massive upheaval for your strategic plan. Elections happen all the time. New rules and regulations are proposed, implemented, or repealed on a daily basis. Court cases can change an entire industry landscape.

To stay on top of all these changes and to prevent being blindsided by new developments, follow electoral races, regulatory initiatives, and landmark court cases that can affect your business. Build contingency plans for possible political, legal, and regulatory outcomes. I’ve seen legislation and regulations impact businesses in huge ways.

Make your perspective known

One client I worked with was dealing with some massive regulatory changes in terms of how regulators were going to interpret the way the company’s industry worked. This client was proactive. They got involved during the regulatory comment period. They put their perspective forward through experts, and got regulators to pay attention. The outcome was they were able to shift some of the regulatory interpretations that were going to affect their business.

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