Jul 12, 2022
From an expert: 2 easy ways to beat inflation
Don’t say the “R” word
The dreaded “R” word has been thrown around recently and it’s honestly a total buzz kill, wet blanket and a total reality at the moment.
With the value of all of our monopoly money shrinking, it’s easy to sink into feeling victimized and overall general despair… or is it a time to get excited? Hear me out here.
Time to put your party pants on
Like any moment when things look bleak, it’s time to look inward and see what we can learn from this experience. So, I turned to the expert for some advice.
Warren Buffet, the expert in anything business and making money and he advised on doing these two easy things to keep yourself afloat during these rising tides.
Tips for beating inflation:
- Invest in yourself: be the best at what you do. If you remain on the path to become better at whatever you’re good at, and slowly become the best, then you’ve got nothing to sweat. When you’re the best at what you do, people will gravitate towards you. Invest is self-growth & development. Never a bad investment when it’s on yourself.
- Build a business with higher margins: with so many supply chain issues, staffing issues, etc., the amount of overhead will dictate how much success you’ll have in beating inflation. Trying to sell something that doesn’t cost as much to produce is a positive first step in the right direction. Or even scrapping a tangible product all together and offering an online service might be the next best step. Time to get creative on what your business has to offer.
Running a business is hard and even harder in times like these but it’s the ingenuity and creativity that entrepreneurs like you and I thrive on to level up and become better business owners, investors and experts at all things becoming recession-proof.
What strategies have you put into place to help with the rising costs with inflation? Let me know in the comments!
