Inflation Proofing Your Business

Day 1 of 5 • This day’s reading

Devotional

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?