Inflation

It’s a given that prices are always going to go up. There’s not much in this world that gets cheaper as we go along. As a business owner, we know our costs are going to rise. That’s a fact.

Since we know it’s going to cost us more to stay in business, we’ve got the have a plan in place to deal with this reality.

We’ve got to keep two things in mind in order to run a successful business.

  1. How do we increase the value of our product so that we can increase our prices (to at least cover our increasing costs)?
  2. How can we make use of the newest technology (both physical tools and digital advancements) so that we increase our efficiency as much as possible, which allows us to reduce our costs by being more efficient?

Inflation is a fact of life when running a business. We either have a plan in place to deal with rising costs, or we sit around and bitch and moan about it (and get passed up by the owners smart enough to have a plan).

Share this Post

Leave a Reply

Your email address will not be published.