There is considerable media coverage surrounding tariffs and the efforts of key political figures to negotiate favourable economic deals for their constituents and voters. These ongoing negotiations are being closely watched by the public, but the waiting and lack of solid information can get frustrating and worrying.

Challenges for small and medium-sized businesses
While representatives work to position their regions advantageously at the macro level, small and medium-sized businesses are left grappling with immediate survival concerns. The current environment, shaped by tariffs, is severely affecting their competitiveness and profit margins, raising serious questions in some companies about their ability to remain viable.

Even if political leaders eventually reach a so-called "fair agreement," most businesses have little knowledge of the specifics and minimal influence over the outcomes. This uncertainty makes it difficult for them to plan or react effectively, as the future remains unpredictable and out of their hands. 

This 2002 quote by Warren Buffett, rings true today: ‘Predicting Rain doesn’t count, building an Ark does.’ 

Limitations of relying on political promises
Businesses are often expected to trust that politicians will honour their assurances and take care of everyone’s interests. However, as business leaders, relying solely on ‘hope’ is not a sustainable strategy. As all of us know, building a successful business requires hard work, a clear vision, passion, and the expertise and commitment of you and your team. And ultimately, you and your team are the ones truly invested in your company’s future and are best positioned to drive transformation and address current challenges.

Taking charge within your organization
Rather than waiting and hoping, business leaders should focus on what they can control. Allow politicians to continue their negotiations, but as a leader of your business, you and your management team need to take command of your business’s direction and future.

There are always opportunities to make improvements within your organization and operations. Many companies have significant ‘non-value’ activities within their processes. Most have up to 75% of activities that can be classified as waste. Removing these inefficiencies is possible with a deliberate decision to channel your energy, and that of your staff, into effective approaches for identifying and eliminating non-value activities. What makes this opportunity exciting is, this transformational process can be accomplished quickly using your existing resources and assets and requires only a commitment of leadership.

Benefits of internal improvements
By reducing costs and accelerating delivery times for your products or services, your company will be better equipped to withstand the economic instability. These improvements will also position your business to thrive once global economic conditions become more stable and predictable.

Maybe the best course action of action during these times is to start building an Ark!

Larry Coté is managing director and founder of Lean Advisors Inc. Lean Advisors is a Lean consulting group serving North America in manufacturing, healthcare, government, educational institutes, and service sectors. Over the past few decades, Larry has had the opportunity to adapt and apply Lean to hundreds of companies, in a variety of unique environments, ranging from international corporations to small businesses, in both public and private sectors. He is also a frequent presenter at conferences and webinars including the 2023 Woodworking Machinery & Supply Conference & Expo. 

Julia Novik is president of Lean Advisors Inc. and a Lean Six Sigma Green Belt. Julia’s passion for Lean started with making a difference in improving patient care by transforming healthcare processes with Lean initiatives. Her career expanded into launching consulting practices and merging her lean consulting with Lean Advisors. Lean Advisors, a leading Lean training and consulting company founded in 1999 provides support for small to medium size businesses and is a member of Wood Manufacturing Cluster of Ontario. 

Learn more at leanadisors.com.

About the Woodworking Machinery & Supply Conference and Expo
For more than four decades, WMS has connected Canada's woodworking professionals with the world's most prominent machinery manufacturers and industry suppliers. This year's show, November 12-14, moves to the Toronto Congress Centre located minutes away from Pearson International Airport. In addition to being the largest tradeshow, WMS 2025 will feature free industry best practice presentations plus the opportunity for attendees to earn CEUs by attending some of the sessions Also on tap are the returns of Student Day and the popular WMS Live Auction.

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For information about exhibiting and sponsorship opportunities, contact Gavin McAuliffe of Corcoran Expositions at 312-265-9649 or [email protected]. For general inquiries, contact Kim LeBel, Executive Director - Events, [email protected].

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