What’s my take on the elections’ impact on defense companies?
Several key elections were decided by narrow margins that fell within the margins of error of pre-election polling. Polling techniques have not yet caught up to the rapid and continuous flow of information, and several races did not produce a much-hyped mid-term wave. Once again, polls underestimated where the ideological middle rests. Some woke up last Wednesday, to face the news with a mix of satisfaction, disappointment, or ambivalence.
We remain a divided nation on myriad issues. This includes fiscal priorities, social policy, and national security. This condition is not likely to change in the near-term or even mid-term.
What can defense companies do to protect their interests?
The good news is that the same tools of communication, access, and influence remain within your reach, as they have always been. Too few executives reach for the tools. What are they?
Tools of communication, access, and influence
- Knowledge of where your product or service satisfies a funded requirement.
- Command of your message.
- Knowledge of the best time and place to deliver your message.
The FY24 budget that is working its way through the executive branch agencies right now does not care who won the mid-terms. The government customer responsible for eventually acquiring your product or service in FY24 does not have a public position on the outcome of the mid-terms. For the overwhelming number of defense companies, a laser focus on items one through three above should be directly linked to your strategic and operational objectives.
Simple as that.
What did the LinkedIn polls say going into the elections?
When asked whether or not they would vote, 100% of respondents indicated yes.
When asked whether defense spending would go up or down based on the mid-terms, 57% responded that defense spending would increase. 43% responded there would be no change.