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Beating Inflation: Maintaining Profits Despite Higher Costs
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 0:13:41
- More information
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Synopsis
Beating Inflation means you have to maintain profits, despite higher costs. In this area where I live in Pennsylvania, the cost of electricity has gone up probably 10 to 12%, just from one billing cycle to the next, because they said "we need more money. We’re jacking up the price." It’s like death by a thousand paper cuts. It’s the situation where you’ve got this little increase here and this little increase here and this little increase here. And you don’t realize it until you go to pay the bills and you look at the numbers at the end of the month. Wow. We’re generating the same sales or even more, but we’re not making as much money. David: Hi, and welcome to the podcast. In today's episode, co-host Jay McFarland and I will be discussing the idea of being profitable even with higher costs. Welcome back, Jay. Jay: Thank you so much, David. What an important topic. So many businesses are experiencing this right now. Their costs have gone up. Inflation is affecting everybody right now. So I love that yo