Inflation has been on the rise over the past months, with economic data now confirming that the inflationary trend is impacting businesses, governments, and households worldwide. CEOs and Business leaders worldwide should be considering strategic moves and tactical actions to counter the inflationary threat to their business’ health, cash flow, and profitability.
Gravitas Impact, a worldwide community of coaches, consultants, and executives recently polled 7 international senior coaches, including myself, and asked, “What guidance are you providing clients to counter the inflationary threat?”. Our responses were curated to create the white paper, 7 Actionable Tactics to Counter Inflationary Threat.
The 7 Actionable Tactics are:
- Activate Price Increases, based on sound reasoning.
- Strengthen customer service, communication, and product/service differentiation.
- Execute scenario planning with your leadership team.
- Focus on and improve key Core Process efficiencies on high expense processes.
- Identify, track, and post key metrics on a weekly KPI list or dashboard.
- Update (renegotiate) Vendor/Supplier agreements, tighten up expense control, Accounts Receivable reporting & relationships.
- Build more debt capacity and cash reserves.
We expand on each of these actions in the white paper. Download your copy of 7 Actionable Tactics to Counter Inflationary Threat.
Recommended additional resources:
- Confessions of the Pricing Man (Hermann Simon)
- Simple Numbers (Greg Crabtree)
With Support from the following Contributing Senior Gravitas Impact Coaches and Alumni:
Ron Huntington, Leigh Paulden, Keith Cupp, Brad Giles, Juletta Broomfield, Mark Green, and Mike Mirau.