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Are you ready to pivot if necessary in your business as inflation rises?
Transcription
Inflation worries.
Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.
For those you who are just listening in and not watching, I have a news article talking about how Walmart is raising the pay for their truck drivers up to, I think it’s at 110,000, something like that.
Everything’s going up, everything’s going up in prices, not to mean that truck drivers don’t earn that, and that there isn’t already a lack of workers out there willing to do skilled labor.
There are many issues across the board that is all affecting inflation but here’s the thing you got to think about.
Whether you’re concerned about it right now or not, you have to be a business owner, a manager or one of the executives in charge of a business, you have to keep your head about you and not get worried and fearful over inflation.
Inflation, in a sense, from what we’re looking at right now, for the most part, where we’re looking right now at the United States, specifically, you’re looking at a situation where the value of the dollar is low and going lower.
Because of that, everything else goes up in price. It’s nothing more than that the dollar, the real problem with the dollar, besides all the background and the history of it, and the fact that there’s really nothing backing it and all that.
Besides that, if you sweep that aside, the real problem with the dollar is that it is it’s an absolute monopoly, not only in our country, but it’s creating a semi monopoly around the world. And there is no competition for it.
Unlike everything else that has, that any type of commodity that we have out there any type of anything that is being sold.
For the most part, you have very few areas where you have long-term monopolies as we have with the dollar.
Because of that everyone’s kind of stuck with it. At least for now, we’re kind of stuck with dealing with it. So instead of freaking out, instead of worrying about all the things you can’t handle, when it comes to inflation, you have to take it one step at a time.
You have to look at each area of your business, how much you’re paying employees, how much you’re charging prices for, you have to look at each of them individually, each at a given time.
Really look at the numbers and see whether you need to raise your prices, whether you need to raise your rents whether you need to raise anything. And take it slow, take it easy. Don’t freak out, let the numbers tell you what needs to happen. Don’t try and jump ahead.
I mean, obviously, you have to have a little bit of forethought but the main thing is not to try and one-up the system.
It’s not necessary, these things will eventually take care of themselves.
Now, a lot of people will say, Well, yeah, the dollar is going to fall out and we’re going to have a different type of currency.
All that is all possible in the in history of, of monetary policy, and so forth, these things happen. Don’t freak out one way or another, there’s going to be a way for you to trade what you do for something of value.
We may call that a $1 or we may call it something else. Don’t freak out, take everything one step at a time.
That’s the main, the main thing you have to worry about when it comes to inflation or any of the issues that we’re dealing with here on an international basis. The main thing you got to worry about is worry.
Don’t worry about it. Just take it by the math, pull the emotion out, look at it for its black and white situation and trust your gut.
Hopefully, that’s helpful to you. Just just a quick little idea of that kind of book, 9 Ways to Amazon-Proof Your Business. There is more strategies that you can use in your business regardless of what industry you’re in, to make yourself competition-proof so that even things like inflation shouldn’t really shake you up too much.
Go grab a copy wherever books are sold or you can download a free copy at AmazonProofBook.com
That’s all I have for tonight you have a good one get out there and let the magic happen.