How to get ahead of Trump 2.0 regulatory reforms
Yes, President-elect Donald Trump is poised to makeover the federal government.
He plans sweeping changes in leadership and policy across key agencies including the Securities and Exchange Commission, Federal Trade Commission and Consumer Financial Protection Bureau, among others.
But companies can get ahead of potentially game changing policy decisions if they are ready to understand and act quickly.
Based on decades of work at the intersection of highly regulated industries, the financial sector and Washington policymaking, we’ve prepared a five-part Strategic Public Affairs Framework to help you manage the outcomes of Trump Administration actions and use them to your company’s advantage.
Analyze priority issues. Take a detailed dive into the issues that have near- and long-term impact on your company, understanding that potential advocates and critics often see companies differently (and from different perspectives) than do other stakeholders, especially policymakers.
Map your stakeholders. Identify your company’s first-, second- and third-ranked public policy stakeholders. You should look beyond the primary actors to better understand—and thus, be positioned to better influence—these principals.
Gather real-time intelligence. The short window between Election Day and Inauguration Day accelerates the need for timely information across issues and stakeholders before decisive action is taken. The truism that “personnel is policy” will be especially demonstrative as the Trump Administration staffs up and Republican leaders take charge of Congress and all its committees.
Build a playbook. Don’t wait to develop an actionable and customized public policy and communications playbook to help you leverage opportunities to advance your interests on Capitol Hill and across the administration. This is your opportunity to drive your reputation forward. The playbook should also outline areas of potential concern and concrete solutions that will help you engage in the public policy arena in order to achieve your business goals.
Engage proactively. When and where it makes sense, launch a targeted engagement program assembled from the buffet of options you’ve developed in the playbook. Make sure you’re also nurturing ongoing relationships with key regulators to build and maintain credibility.
The time is now to leverage the election’s outcome for your long-term company, policy and reputational benefit. If you’d like help with building an action plan for your company, get in touch with us here.
Michael W. Robinson is Chairman & CEO of The Montgomery Strategies Group, a Washington, D.C-based consultancy that helps companies achieve their business, public policy, and stakeholder engagement goals. He works with domestic and international clients to shape strategy, build and guard reputations, advance narratives, construct alliances, advocate on issues, and grow bottom lines.