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Last 12 months, the largest interest groups in Washington spent greater than $283.1 million lobbying on behalf of their industries. Nearly every industry has a lobby or association that advocates for its interests in Washington, and corporate spending on political propaganda continues to grow.
Besides, in 2010 Citizens United The Supreme Court’s decision ruled that businesses and corporations can spend an unlimited sum of money on elections. Since then, firms have invested tens of millions in candidate campaigns and voting initiatives that align with their business agenda.
The most successful firms are involved in politics at some level and work to shape regulations that profit their bottom line. In this text, we’ll discuss how entrepreneurs can effectively engage in politics, building influence and advocating for candidates and laws that are in the best interest of their company.
Understanding the basics
To start strategically planning your approach, you wish to understand how a bill becomes law and the different stages at which entrepreneurs can exert influence.
First, a senator or member of Congress will introduce the bill, and the bill will be referred to a committee. In this case, lobbyists can persuade lawmakers to make changes or delete parts of the law that could also be harmful to the firms they represent.
If the bill advances through the committee stage, the full Senate/House of Representatives will vote on the bill. If you have access to key players, you’ll be able to influence the end result of the vote.
If the vote passes in the Senate, it is forwarded to the House (or vice versa) and the process repeats. You will have one other likelihood to speak out in favor of changes at the committee stage, in addition to when the full House votes on the bill.
To effectively defend your company’s interests, it is essential to not sleep to date on all relevant bills introduced in Congress. Tools like Propolitician, Plural AND Bloomberg government can make it easier to not sleep to date on political news relevant to your industry and proposed laws that could impact your business.
Building influence
Having influence with the right people, each locally and nationally, is essential at every stage of the advocacy process. Getting began might be intimidating, and navigating the political landscape once you are there can seem overwhelming.
Getting involved in local politics by attending town halls or community meetings is one way to find out how the process works and who is involved.
Joining existing industry associations or lobbies is one other excellent spot for entrepreneurs to start building relationships and supporting causes that underpin their business goals. Industry associations or lobbies act as an intermediary between your company and key players, taking the burden off you as an individual.
Getting involved with a trade association or lobby can make it easier to get used to the political playing field and get inside to start building your own relationships with lawmakers and other government influencers.
Once you connect with the right people, effective communication and the right framework are key. When meeting with legislators, be prepared to display how your company contributes to the economy and community as a whole and how specific policies may impact your business.
Learn how to most effectively frame your business interests in terms of the public good and use case studies and facts to support your position. Ask specific questions, strategically designed to align with appropriate stages of the lawmaking process.
For example, a construction company may advocate for an infrastructure spending bill because it could profit from the work. During a meeting with legislators, they might tell them what percentage of the city’s roads are damaged and how increasing spending on road infrastructure would profit the entire community. Here, executives consider how their company’s interests align with the needs of the community as a whole and frame their requests to lawmakers through this lens.
Direct advocacy techniques
From lobbying to grassroots organizing, political support can take many forms. Here are some different approaches you’ll be able to take to fight for your business interests.
Building a coalition: Joining forces with other firms or associations that share your interests might be a great way to amplify your voice. There is strength in numbers, and lawmakers are more likely to concentrate to groups with many diverse members.
Grassroots organizing: Educating and mobilizing like-minded people is one other great way to get the attention of lawmakers and bring about the change you would like to see in the world. Creating petitions, organizing phone banks, or starting crowdsourcing campaigns are just some of the ways you’ll be able to engage people at the local level on the issues that matter most to your business.
Media involvement: Some entrepreneurs consider that the best way to defend their interests is to send their message directly to the media. This may include writing press releases, publishing columns and building relationships with journalists covering your industry.
Deciding which advocacy strategy is best for your company depends largely on your industry, company values, and political goals. Talking to other entrepreneurs in your area and considering what has been successful in the past can make it easier to determine which strategy is best for you in the future.
Strategic considerations
Immersing yourself in the political arena involves significant risk and strategic considerations. Politics is fraught with contentious issues, and engaging in the process could expose your brand to public scrutiny. To avoid the wrath of cancel culture, make sure any political moves you make are consistent with your brand’s public image and company values.
Financial and time commitments are also an essential factor, so it’s best to weigh the pros and cons of investing in political advocacy. In some cases, the cost of inaction might be devastating, and in others, you might not gain much from engaging in politics. Decide how much political support is price to your company and spend your time and money on advocacy accordingly.
Despite these risks, many successful business owners have decided that taking an lively role in shaping political outcomes is an effective way to increase profits. There are many other ways to step off the sidelines and start advocating for policies that will help your business reach its highest potential. From lobbying to forming coalitions to grassroots organizing, there are many ways to get involved in politics and start fighting for your company’s best interests.