Protecting Your Business During High Inflation

To mark 21 years of helping clients reach higher levels of success – what better way to celebrate clients and express my extreme gratitude than by standing on top of a high-powered Stearman Biplane doing some aerobatics at 3,800 feet, and going from 0 to 150mph in 3 seconds and experiencing force 4G!

Some of the high-speed maneuvers included carrying out Loops, Cuban Eight, Stall Turn, Roll, Hesitation Roll, and finished off with a fly-by!

Here’s a short video with views from the ground and the plane. You might get a sense of the thrill and the terror

Take a look and let me know what you think… would you do it?

Here’s the thing: I would never ask my clients to do anything that I wouldn’t do.

And sometimes, we have to step outside our comfort zone to achieve what we want to achieve in life!

For Your Success

Discover Your Life Purpose Course

Last month saw the initial launch of my new signature course – ‘Discover Your Life Purpose’.

So far there are 24 individuals going through the course with many of them already completed and now know for certain what their life purpose is.

It has been amazing supporting each and every one of them on their journey of discovery.

Here are just some of the comments so far…

“This course changed the course of my life in a way that I feel energized, exhilarated and can hardly wait to start making the changes I need to make, to fulfil my purpose in life.”
~ Violetta
“It is amazing that in one day I discovered so much about myself, and feel such clarity on my unique life purpose!”
~ Mary
“The Insights that I got will I feel go a long way to guide me in my new business over the next period of time. I wish everybody who gets to do this course well. They are in for an Awesome Flight.”
~ Denis
“This course has given me the direction and guidance I need in order to be in alignment with my soul contract. What I’m here to do in this lifetime. I feel excited in knowing now what my life’s purpose is and how I can be of service to others.”
~ Theresa
“You NEED to do this course. This course will change your life.”
~ Anneliese
I am truly grateful for each of the individuals that trusted me to deliver on what I promise in this course and it has been an absolute honour to see them develop.

If you’d like to discover your own unique life purpose, here’s a link to all the details.

Protecting Your Business During High Inflation

Over the past four years, I’ve been advising clients to prepare for double-digit inflation.

While many of them thought at the time I was mad, and told me it would never happen, we’re now experiencing it globally.

And there’s more to come!

There will be a lot of turbulence ahead. Inflation will continue to rise for the remainder of this year. The push to increase interest rates will only increase inflation even more.

Where does that leave us?

As I said inflation will continue to rise even more – I mean far more than you can expect. By early next year, we will see a contraction in economies and a lot of fall-out. This will continue for some time and it will take its toll on a lot of people.

If you think the pandemic was tough, well that was only a glitch! There are a lot of structures that are yet to collapse. I referred to this when I published my first book, EVOLVE, in 2012.

As I have said to my clients, this is not to scare you, it’s to help you prepare. And so I’ve become a little more vocal about these insights so as to help as many people as possible.

There is a lot of work to be done.

So what’s my advice?

Be prepared and get ready.

How?

Well, here is a list of things I have put together to help you in your business… whether you’re a solopreneur or a plc.

1. Invest in marketing and growth strategies.

Not growth for the sake of growth and market share – profitable growth.

2. Systemise as much as you possibly can

Automate and digitalize activities that are currently done manually. Review all processes and streamline them.

3. Pass on price inflationary increases as soon as they occur

Don’t be waiting to follow others and don’t be absorbing the increases in your business.

4. Drive value with staff.

There will be a lot more demand for pay increases. Your focus will need to be on deriving value.

5. Be forward-looking, visionary, and optimistic towards growth and the future, not contraction.

It can be very easy to get despondent during this period as it unfolds. Keep your spirits high.

6. Focus on real growth, not growth because of inflation.

As you pass on price inflation to your customers, your turnover will naturally increase as a result. You want to ensure you are delivering underlying growth within the business, excluding the price increases.

7. Focus on profitable customers and product ranges.

Now is the time to weed out those products or sectors of your business that are not delivering profit and positive cash flow. The same applies to your customer base.

8. Be the leader in your market.

There will be a contraction of the marketplace so focus your attention on being the leader. Keep “survival of the fittest” in your mindset. Don’t get bogged down in the short term. Aim to be the winner. This is a marathon, not a race, so pace yourself.

9. Manage your cash flow effectively.

Demands will increase more during inflation so managing your working capital and especially debtors days will be paramount and will require more work.

10. Protect against interest rate rises.

As I mentioned earlier, interest rate increases are not going to curb this inflationary period they will add to inflation. So stress test your business for interest rate increases and put protection measures in place.

11. Strategize for further inflation effects on your business.

As I said, four years ago I predicted double-digit inflation. There will be more inflation. Project your financials and business strategy forward to play out the various scenarios as to how the higher inflation will affect your business. Understand how price increases will affect your overall product mix and market positioning.

12. Communicate with your staff.

Get them involved in being the solution and developing your business’s strategy. This will be a time to rally the troops.

13. Look for mergers and acquisitions.

Just like in every turbulent period, there are opportunities. These opportunities benefit your business, your staff and the companies you can potentially merge with or acquire.

14. Get support, mentorship, and guidance.

I cannot emphasize this enough. Yes, it’s my field of expertise, but the period over the next twelve to eighteen months is going to be really tough mentally, physically, and emotionally. You need the support of someone trusted by your side who can strategize with you and keep you on the right track.

15. Build your reserves.

You’re going to need them. See where you can conserve expenditure and increase profitability so as to build that treasure chest.

16. Work with your suppliers.

Understand possible weaknesses and threats. It’s not about beating them down on pricing. This is about working together. The sooner you know about possible weaknesses, the sooner you can guard against them.

17. Invest in innovation and predict future demands.

Don’t try and keep your business the same as it’s always been. This is a time for radical changes.

I encourage you to go through and implement all, if not as many, of the above list as early as possible.

Please forward this to the people you know who run their own businesses. They will thank you for it in the long run.

If you would like to discuss the above subject matter or other areas that would be helpful for you, your business, or your organisation, join our Genius Unlocked Course.