How Do You Stagflation-Proof Your Business Successfully?
Stagflation is when the economy isn’t growing, jobs are hard to find, and prices keep going up.
For companies, this means less money from customers and higher costs to run the business
To beat stagflation, create a solid financial plan, manage your money well, and set prices that keep customers coming back.
Also, find different suppliers and offer more products to lower risks and work better.
Good financial moves include keeping a close eye on your money, looking at debt options.
Think about pricing based on value, segment your prices, and bundle services.
This keeps profits up while being mindful of what customers can afford
To strengthen your supply chain, find more suppliers, manage inventory well, and consider making things yourself.
Tech investments can cut costs and make you more competitive.