The economy is always uncertain to some degree, but right now it feels even more so with a recession looming and continued inflation. The best way to prepare for that uncertainty — so you can stay in business and continue to serve your customers — is to become more profitable.
On this episode of The Clarity Advisors Show, host Ken Trupke talks about improving profitability by cutting costs, increasing productivity, growing sales, embracing technology, and investing in your team.
Episode Quotes
“You’re going to be surprised by all the things that have started to add up at $5 and $10 and $20 a month that you didn’t really notice, but it all makes a difference.”
“I understand automation has a cost to it, but it’s a one-time cost with over and over and over benefit.”
“You want to have that innovation and you want to have that continual improvement culture. But can we afford right now to dilute our energies by tackling five things at once?”
“I’d rather have one project move 10 yards than 10 projects move one yard.”
“Make sure we’re calling on the people we need to call on to generate business. Don’t wait for the phone to ring. Go make the phone ring on the other end by making outbound calls.”
“It’s an inflationary time. This is a great time to raise prices because there’s a lot of air cover for it.”
“You are probably under the market right now if you haven’t raised prices in the last 12 months.”
“This is the time to invest in your team. Your team is what makes you unique, drives you forward, and helps you to serve your customers. So make sure you’re investing in your team.”
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