All CEOs must come to terms with the fact that inflation is here.
It is a composite, where some parts of the economy have higher inflation and some have a lower one. Where does your business stand?
Refocus your day-to-day work to determine your daily cash flow and weekly cash forecast. Do not manage in EPS, manage in cash flow.
As a CEO, you should consider:
– How is your pricing?
– Do you have long-term contracts?
– What are you going to do with these contracts?
Get your team together and train them on how to work in an inflationary environment.
Some people believe that inflation will taper off at the end of 2024, but avoid wishful thinking. Luck favors the prepared. Move fast and be agile.