292: How to Handle Inflation as a Pet Business
Episode description
How are you handling inflation and high gas prices? Prices on everything continue to rise and businesses are feeling the pinch more and more. Unfortunately, most economists aren't seeing any bright spots in the future. So how do we tackle these concerns and make sure our businesses continue to operate and provide us a living? We break down four things you should be considering in the days and months ahead to make sure you're positioned to weather the storms.
Main topics:
- Is raising prices enough?
- Cutting costs
- Locking in your expenses
- Going premium
- Ask a Biz Coach
Main takeaway: In a high inflation economy, controlling costs and having a long-term view of your business is critically important.
Links:
Episode 266: Rising Costs and Uncertainty
Gas Prices: https://www.nytimes.com/2022/06/11/business/energy-environment/gasoline-price.html
What's driving the increase: https://fortune.com/2022/06/11/why-is-the-price-of-gas-so-high/
Tackling inflation as a business: https://www.forbes.com/sites/billconerly/2022/03/18/business-strategy-for-the-high-inflation-economy/?sh=3dd9316e64f6
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Full show notes and transcript
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