What if the Government is your Biggest Customer?
Today’s U.S. government shut down will have ripple effects on many types of businesses. While projects at some agencies and businesses may see an immediate impact, other change agents will also need to take the impact of the shutdown into their plans.
Those of you who work for a government funded agency, where either your largest customer or funding source is the government have no doubt been following the news carefully and planning accordingly. But for many others, the impact may be more of a surprise. You may think you have no government funds affecting your particular business, but if it affects your biggest customer, your biggest supplier or even causes those that are guiding your project to have to wait to see the way the wind blows, you will see an impact. Are you prepared?
Today’s events are a great reminder of the need for diversification, of customers, funding sources, and even the ability to shift your plans when necessary. Regardless of your politics, look at today’s events as a chance to “go deep” in your business and your plans to see where your vulnerabilities are, and begin addressing them today. Beyond the government shut down look for any area where you have more than 30% of your “chips” invested. Is it in one customer, one project sponsor, one marketing strategy? one referral source? Where are you vulnerable and what can you learn from today’s news?
Thinking about making a move? Size up your Corporate Landscape or any other company you may be thinking of moving to by using our free guide, Reading the Terrain. Get your copy today by clicking the link. And no, we won’t spam you, you’ll just get our weekly update of articles.