How will inflation force you to change your business

How will inflation force you to change your business? Inflation is a funny thing. You can’t pinpoint the exact day it impacted your business. You can only look back and notice the changes it made. As an entrepreneur there are two paths you can choose: 1) let inflation happen and watch your business slowly fade, or 2) get out in front of inflation and watch your business take market share from businesses that follow the first path. Whether you understand inflation or not, every business is faced with the decision to be proactive or reactive. Cash flow is the single largest reason businesses fail and inflation can accelerate cash flow challenges if not managed properly.

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Are you stressed or scared about your business finances?

Are you stressed or scared about your business finances? Business finances are a consistent point of stress for entrepreneurs. Sleepless nights. Panic attacks. Ignoring voicemails and emails. Fear produces action and there are only two: failure or profit. There is nothing in between. As an entrepreneur, you have the choice of taking actions that can produce either result.

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What if every customer used your product or service one more time?

Finding a way to generate one more transaction per customer per year can have a big impact on your business. Every business has an opportunity to get one more transaction from most of their clients every year – even if that includes a referral.

Tune in today as Dylan talks through this thought exercise.

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Paid versus organic revenue

The best type of revenue a business can generate is organic revenue. The hardest type of revenue to generate is organic revenue. Paid revenue means your business will lose the revenue to the next company that pays a higher price. Organic revenue means your business owns its customers.

Tune in today as Dylan shares his thoughts on paid and organic revenue.

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When was your last good idea?

Building a valuable business happens because an entrepreneur can anticipate what needs to be done and gets it done before their competition does it. When was the last time you had an idea that you either took from a competitor and made it better or executed on a strategy before your competitor did?

Tune in today as Dylan shares some thoughts on how to make sure you are moving your business forward.

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Lack of cash is a symptom not a problem.

You may think your business needs money but chances are your business needs to focus on fixing the parts of it that are broken. If your business is growing, what do you need money for? If your business is not growing, what does it need money for? Tune in today as Dylan shares some thoughts on how to deal with cash challenges.

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Sell. Shut down. Or wait and see?

Context is everything. If you are trying to build a valuable business you should know what milestone you What is your exit strategy? How much money do you hope to collect from your business? Will you collect it through fees, a paycheck or one large payout when it is sold? Thinking through this should change how you approach your business every day. Tune in today as Dylan shares some thoughts on exit strategies and why they matter.

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