Carol McManus

The voting is over and the results are in. We know from recent news that the President-elect is working on his transition plan in order to "hit the ground running" on January 21st. So, what can you apply to your business that is the same exercise that our government deals with every four (or eight) years? I say, a LOT.

You may not be planning to change the leader in your company; however, you can take a step away from your own status quo and go through the steps of transition that Barack Obama is facing right now. The goal is to look at your business, its personnel, the market, and your competition through fresh eyes and with a perspective that is different than the philosophy that has been driving your decisions up to this point.

Among the first decisions our new President is making are the assembly of his LEADERSHIP TEAM. For Obama, this means key cabinet appointments and critical staff positions. He has told the American public that he plans to have a bi-partisan team of advisors that will work together to take the country forward. In your situation, I challenge you to look at your leadership team and staff positions and evaluate if you truly have the right people 'on the bus.' You should be looking at those who have the right education, skill, experience, attitudes, creativity, innovative thinking, commitment, independent thought, and work ethic. Each individual should bring something unique to your team and should be valued for their personal contribution. If there are weak links in your organization, then you need to have a plan to either strengthen or replace them.

Obama will be focused on DOMESTIC POLICY to ensure that resources are being deployed where they are needed and will make the most difference. In your business, an analysis of your domestic policy needs to take the same route. I challenge you to look at all of your current policies, initiatives, code of conduct, as well as projects on the drawing board. Ask yourself if the resources (both human and financial) are being most effectively deployed for maximum results. Are there projects that should be delayed and others accelerated? Are there staff members who could be more useful in a different position or even a different location? Does your Code of Conduct and internal policies support the mission of the company, and are they being adhered to at all levels of the organization?

The third area where Obama will give attention is, of course, FOREIGN POLICY. While his much publicized trip abroad opened the door to renewed relations abroad, there is yet much work to be done. Your job is to look at your competitors through a similar lens as Obama will be using with other countries. Ask yourself questions like: Is this competitor a friend or a foe? If a friend, what type of alliance agreements might we explore that will benefit both of us? If a foe, what compromises might I make that would open the door to a more friendly alliance relationship? Is this a competitor who might represent a good partner in a potential merger or acquisition? How might we work together or support each other in order to strengthen our industry and what is the appropriate way of going about doing that?

The last piece of the puzzle in analyzing how Obama is preparing for his term in office is to recognize how decisively he established his NUMBER ONE PRIORITY. He has said to the American people very clearly that the economic crisis will take top spot. Looking at your own business, ask yourself, "What is my number ONE priority?" This may seem like an obvious question, but I'm going to challenge you to revisit your answer. If you have been focused only on cutting expenses, then perhaps your number one priority is now growth. If you have been focused on maintaining a business plan that you have used over and over in the past, then maybe you should be writing a new business plan with new objectives and strategies in order to achieve your profit objectives. If you have been growing your company through organic growth by merger and acquisition, then perhaps it is time to turn that energy inward and seriously look at eliminating redundancies and reducing expenses. If you take the time to metaphorically step out of your current role and analyze the landscape of your company as though you were the newly elected leader preparing to take over, you may find solutions right in front of you that you didn't see from your tenured position. We all get too involved IN our businesses to take time to work ON our businesses. Now is the perfect opportunity to mirror your behaviors and actions to those of our incoming President. Watch what he does and listen to what he says in the coming months. This is not about political philosophy; frankly I don't care if you are a democrat, a republican, an independent, or support the green party. As a country, we have one leader. As a business, you have only your responsibilities to manage. And oh, by the way, you don't have to be the senior-most leader for this to work. Examine each aspect of what is suggested here within the framework of your world and your position.

I would love to hear stories about your discoveries and your successes. Please email me anytime at carol@ywait4success.com. With your permission, I would like to share the lessons learned with other entrepreneurs in our network. (Obviously your identity and that of your company would not be disclosed without your authorization).

My final challenge is for you to set January 20th as your completion date for analysis and action. Good luck with your new transition plan!