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Last year, major interest groups in Washington spent long 283.1 million dollars lobbying for their respective industries. Almost every industry has a lobby or association fighting for their interests in Washington, and corporate spending on political protection only continues to grow.
Moreover, the year 2010 Citizens United The Supreme Court ruling ruled that businesses and corporations can spend an unlimited amount of money on elections. Since then, companies have poured millions upon millions into campaigns for candidates and ballot initiatives that align with their business agenda.
Most successful companies are involved in politics at some level and work to shape laws that benefit their bottom line. Here we will discuss how entrepreneurs can engage successfully in politics by building influence and advocating for candidates and laws that are in the best interest of their company.
Related: How to increase revenue and improve company culture during election season without being political
Understanding the basics
To begin strategically planning your approach, you'll need to understand how a bill becomes law and the various stages entrepreneurs can go through. exert their influence.
First, a senator or member of Congress will introduce a bill and the bill will be assigned to a committee. Here, lobbyists can persuade lawmakers to make changes or scratch parts of the bill that could be harmful to the companies they represent.
If the bill passes the committee stage, the entire Senate/House of Representatives will vote on the bill. If you have access to critical players, you may be able to influence the outcome of the vote.
If the vote passes in the Senate, it will pass in the House (or vice versa) and the process repeats. You will have another opportunity to defend the changes at the committee stage and again when the House as a whole votes on the bill.
To successfully protect your company's interests, it's important to stay on top of all relevant bills being introduced in Congress. Tools like Pro politician, PLURAL AND Bloomberg Govt can help you stay informed on political news that is important to your industry and which proposed laws may affect your business.
Building influence
Having influence with the right peopleboth locally and nationally, is essential at every step of the advocacy process. Getting started can be intimidating, and navigating the political landscape once you're there can feel overwhelming.
Getting involved in local politics, whether by attending town halls or community meetings, is one way to start getting to know how the process works and who is involved.
Joining existing industry associations or lobbies is another great place for entrepreneurs to start building relationships and supporting causes that support business objectives. Industry associations or lobbies act as intermediaries between your business and the major players, taking the pressure off you as a single individual.
Getting involved with an industry association or lobby can help you get used to the political playing field and start building your relationships with lawmakers and other movers and shakers in government.
Once you've connected with the right people, effective communication and framing is key. When meeting with lawmakers, be prepared to demonstrate how your company contributes to the economy and community as a whole and how specific policies may affect your operations.
Learn how to more effectively frame your business interests around the public good and use case studies and facts to support your position. Make specific requests that are strategically timed to correspond with the relevant stages of the lawmaking process.
For example, a construction company might defend a bill for infrastructure spending because it would benefit from the work. In their meeting with legislators, they can tell them what percentage of the city's roads are damaged and how increased spending on road infrastructure would benefit the entire community. In this case, executives are thinking about how their company's interests align with the needs of the community as a whole and tailoring their requests to lawmakers through that lens.
Techniques of direct advocacy
From lobbying to grassroots organizing, political advocacy can take many forms. Here are a few different approaches you can use to fight for your business interests.
Coalition formation: Joining forces with other businesses or associations that share your interests can be a good way to amplify your voice. There is strength in numbers, and lawmakers are more likely to pay attention to groups with more diverse members.
Organization based on: Educating and mobilizing those with similar interests is another good way to get the attention of lawmakers and bring about the change you want to see in the world. Forming petitions, organizing phone banks or starting fundraising campaigns are some of the ways to engage people at a grassroots level about the issues that matter most to your business.
Media engagement: Some entrepreneurs feel that sending their message directly to the media is the best way to protect their interests. This can include writing press releases, publishing op-eds, and building relationships with journalists who cover your industry.
Deciding which advocacy strategy is best for your company is very specific to your industry, company values, and political goals. Talking to other entrepreneurs in your space and considering what has been successful in the past can help you determine which strategy is best for you.
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Strategic considerations
Dipping your toe into the political arena comes with significant risks and strategic considerations. Politics is wrapped up controversial issuesand involving yourself in the process can expose your brand to public scrutiny. To avoid the wrath of cancellation 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 important considerations, so weigh the pros and cons of investing in political advocacy. In some cases, the cost of inaction can be devastating, and in others, you may not gain much from engaging in politics. Decide what political advocacy is worth to your company and spend your time and advocacy dollars accordingly.
Despite these risks, many successful business owners have decided that playing an active role in shaping political outcomes is an effective way to increase their bottom line. There are many different ways to step outside the box and start advocating for laws that will help your company reach its highest potential. From lobbying to coalition building to grassroots organizing, there are many ways to get involved in politics and start fighting for your company's best interests.