Inflation Proofing Your BusinessSample

Inflation Proofing Your Business - Part I

According to new research from Bank of America Securities, inflation is on the minds of many CEOs. In fact, mentions of inflation by CEOs have exploded 800% year-over-year. 

If you are under 50 years old, you have never experienced inflation above 5% in your work life. You would have to be older than 60 to have seen inflation over 10%. 

With age comes added responsibility to share experiences, and I realized I have some experiences with inflation that many leaders have not had. 

Proverbs 22:3 teaches, "The prudent see danger and take refuge, but the simple keep going and pay the penalty."

Inflation can be brutal and destroy many businesses, so in this Bible reading plan, I will address ways you can inflation proof your business. Preparing for inflation could save your business lots of money and pain.

Questions for Reflection:  

• Are there areas where increased prices are affecting your business? What are they?  
• Do you anticipate inflation, and how have you prepared your business for inflation?  
• Do you have a trusted business mentor who has walked through inflation who can counsel you on how to inflation proof your business?