Today is Remembrance Day
in Canada, the UK,
South Africa
and many other places.
We remember the sacrifices
regular people
like you and I made
to keep us safe
and
free
and
able to do all the things
we dream of doing
(including, yes, building businesses).
Freedom isn’t free.
It comes at a cost.
This year,
even more than others,
we should remember
what they fought
and died for
and
we should do all we can do
to protect it.
Lest We Forget.
Some costs,
due to climate change,
war, government changes,
other factors,
have increased by 100%
or more
compared to last year’s costs.
That level of increase,
if not offset,
will decimate the profits
of many businesses.
What are the possible offsets?
Passing the cost increase
along to the customer
i.e. increasing our prices
by at least
the same amount.
Or
having a deal
with our suppliers
that lock in prices
for a certain length
of time.
Or
being able to switch
to a lower cost input
or a lower cost supplier.
And there are other offsets.
Ensure you have a plan
for increasing supply costs.
Today is Remembrance Day
in my part of the world,
a day in which
we commemorate
the warriors who fought
for our country.
I didn’t agree
with all the battles
fought
but I recognize
and honor
the sacrifices made.
I also don’t agree
with all the businesses
being built
but I recognize
the hard work
and the ingenuity
people are putting
into those businesses.
(I’m NOT equating
building a business
and fighting in a war.
We, business builders,
aren’t AT ALL
making that level
of sacrifice.
Thankfully.)
You don’t have to
agree with an action
to respect
the spirit
behind that action.