This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/.
----------
NEWS ROUNDUP
1
Small business owners are continuing to get hit hard by inflation on multiple fronts, including soaring labor costs and being forced to raise their prices.
The Consumer Price Index came in worse than expected for August, rising 8.3% over the last year.
The Producer Price Index, a measure of wholesale inflation, declined slightly for the month, meeting expectations. Still, for the last 12 months, the PPI is up 8.7%.
https://www.bls.gov/news.release/cpi.nr0.htm
https://www.bls.gov/news.release/ppi.nr0.htm
----------
2
Numerous surveys of late have determined that Americans are not saving nearly enough for retirement. A growing number of states, currently at 10, are trying to address the problem by mandating retirement plans, which apply even to small businesses.
----------
3
89% of business owners are concerned about the state of the US economy, according to the recently released State of Small Business Survey by Verizon.
https://www.verizon.com/about/news/small-business-survey-2022
----------
FEATURE – Make Your Team Victorious With Change
If you don’t keep up in the business world, you’ll be overrun by more nimble competitors.
In their Wall Street Journal bestselling book Switch, brothers Chip and Dan Heath offer insight to help us more successfully bring about change.
The fundamental thing to understand is that our minds are ruled by two different systems – the rational mind and the emotional mind, and these two systems are continually competing for control.
To help your employees move forward, first give them a clear script.
Next, appeal to both the rational and emotional minds.
Finally, shrink change down into manageable chunks.
----------
I would love to hear from you! Please email me at adam@smallbizflash.com.