Download or Read Below Are you tired of hearing about the great “inspector” coming to look at your “gadgets?” Well, that’s par for the course if you are a firearm manufacturer, dealer and distributor. Operating in a regulated industry such as ours comes with a few extra burdens. So then, how do you run your Federal Firearms License (FFL) with a little less stress? Consider the O.R.C.H.I.D. methodology. #1 – Objectives It starts by contemplating the notion that we all seek a few common objectives. For example, we all want financial prosperity and peace of mind. When the U.S. economy does well, we all benefit. And, when we plan accordingly and manage our FFL with an eye towards ‘risk aversion’, we get a little bit closer to peace of mind. #2 – Reality As a former auditor, I can tell you that no one loves the thought of an independent inspection. But, absent an alien space beam sent to extract every IOI from earth, they will likely be around for a while. That’s the reality, so what can we do about it? Get ahead of the independent inspection process. In some ways, compliance is like going to the dentist. We avoid it like the plague but revel in a report that is void of cavities. Proactive compliance is the same. It is a concept embedded in sound business principles, regardless of the industry. Think of it as maintaining healthy gum lines (yuck!). Regardless, it provides management with a greater likelihood of avoiding surprises.  #3 – Compliant Achieving compliance doesn’t have to be rocket science. But, unless you’re just darn lucky making it happen across a multitude of transactions and a sea of employees requires a plan. Think about it for a second… Does your business “go-to-market” without a strategy? The answer is likely “not often.” That’s because achieving any objective (i.e., profitability, safety, quality or compliance) in a repeatable manner requires some level of planning. In short, your chances of achieving compliance will be much greater when it isn’t left to chance. #4 – Help Has your child ever come home from school and asked for help with their homework? That child is asking for your guidance. They want to learn…..knowledge is empowering. Knowledge helps us do the right thing and feel good about it along the way. It inspires confidence and engenders a feeling of “a job well done.” Well, the same is true with compliance. Almost 100% of ATF compliance violations can be mitigated with basic education. All of us hire new employees – permanent or temporary. We move them to new roles, and we ask them to perform transactions on our behalf. As an FFL holder, you don’t want a violation. Train them. Help them help you. #5 – Improve Being able to run your business effectively takes significant focus. Trust me, we run ours every day, just like the rest of you, and “it ain’t easy.” So, while you craft your brilliant, post-MBA strategy to crush the competition, do you want to be surprised? Heck no! Surprises disrupt your ability to achieve our assumed goals of financial prosperity and peace of mind. FFLs have tools at their disposal to make things happen. For example, performing a mock inspection provides insight into your historical performance. But take note! While mock inspections are of great value, they only provide a point-in-time assessment. Sustainable compliance is even more likely achieved with continuous improvement. By that we mean, a recurring evaluation of your own business processes with the goal of eliminating transaction errors. Combine a recurring mock inspection with continuous improvement and you’re headed in the right direction. Now that’s improvement! #6 – Diligence Life “ain’t” easy. Unless you were given the name Bubba and are capable of hitting a 340 yard drive down the 1st hole of Pinehurst (timely golf reference – smile), then achieving the American Dream requires diligence. We operate in an industry where the rules are changing – almost daily it seems. So, operating in compliant manner, while achieving our financial goals requires nothing short of good old diligence.

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Our goal isn’t to tell you how to run your business. Heck, we wouldn’t want anyone telling us how to run ours! But, we do love to see our clients achieve their goals without unnecessary surprises. Whether or not you adopt the O.R.C.H.I.D. methodology or you rely on someone else’s cute slogan, just remember that we are all in this boat together. Sharing ideas, learning from one another and investing in our ability to comply makes for a happier FFL.