I sure didn’t, at least not at my Main Street day job. In fact, since Covid happened I can tell you my day job income has significantly diminished.
Why? Because EVERYTHING has gotten too expensive, too quickly.
The consumer price index rose 0.4% in February and 6% from a year ago, which was in line with market expectations.
A recent drop in energy prices helped to somewhat keep inflation in check, while shelter costs have increased sharply.
The probability that the Fed would raise benchmark interest rates by at least a quarter percentage point next week increased following the report.
The fact of the matter is . . . this economic environment is unsustainable!
We repair automobiles for a living. My clients are feeling the squeeze at the food store, in their healthcare costs — heck, pretty much everywhere!
What do you think they’re neglecting? Their vehicles. They’re waiting for them to break down rather than maintain them.
After 47 years in business, I know it’s inevitable that they’ll have to repair their cars. And the longer they neglect them, the greater the repairs will be.
But most of these folks are living on their last penny. I get it — our costs of operation as a business have increased tenfold as well.
This leaves all small business owners balancing 2 things:
- Paying everyone else more. 2. Paying themselves less.
It’s a tough environment to do business in. It doesn’t matter if you’re selling sandwiches or fixing vehicles.
The overall cost of existence is very expensive.
What do you do? Well, the first thing you must always do is prioritize your clients and staff. Make sure they’re getting everything they need.
When you’re a business owner, you work for them … ALL OF THEM … that’s right, the business owner works for the staff and the clients.
You come last. Many would disagree with me, but without the people you work for … you don’t have a business — PERIOD.
Most business owners didn’t get a 6% raise, while most staff that are remaining employed have gotten a substantial raise to help offset inflation.
For those who have been less fortunate like the 10,000 additional Meta employees that are getting laid off … you all need to help yourselves!
And lucky for you, I’d like to help you help yourself. But the first step is yours to take. CLICK HERE or send me an email, let’s chat!