There is a trend towards increased government controls affecting your business and personal life. You can take two distinct actions while these new laws are passed. First, vote for those politicians having a history of supporting regulations you favor. Second, learn to turn regulations into profits.
To prosper in this environment of increased laws you will need to change your viewpoint and look for opportunities within these new regulations. While managing a seafood business was amazed at the many regulations we had to comply with. I became frustrated with the many rules and regulations, most of which I felt where ridiculous.
It was not until I changed my internal dialog that doors opened leading towards prosperity. Instead of complaining I began to ask myself a new question, “how can I profit from this new regulation”. This is when I discovered new ways to make the business more profitable. The following is a list of the methods you can use to turn government regulations into profits for your business.
One day local regulators from the fish and wildlife arrived at his warehouse for an random inspection of his seafood. Unfortunately, he had lobster in his freezer without the proper out of season documentation. This caused him to be fined over fifteen thousand dollars that day. After this expensive experience he decided to only purchase from us because of our expertise in out of season licensing. This began a long relationship with this customer simply because we understood the regulations and more importantly we knew how to comply with the regulations.
A few years ago I investigated legislation which funded an alternative energy source. Government money was injected into this business and they where looking to reap the rewards. I thought I would try and share in their good fortune. Less than a year later I sold my interest at four times what I originally paid.
There is an old saying “when life hands you lemons make lemonade”. This axiom can be applied to many government regulations. As any business owner knows the only thing we can be assured of is change. I challenge you to think of this change in a new light. If you or your business is having to comply with a new local, state, or federal law, it as an opportunity. Investigate opportunities withing the new legislation, and turn politics into your profits.
