High inflation is hitting businesses and households hard in 2022. Across the world, inflation is running high, thanks to factors like pandemic disruptions, monetary stimulus and supply-chain issues.
Inflation is currently running at 5.6%, but experts are forecasting that it’s likely to increase over the next year or two. The rising cost of goods and services has been driven by local labour shortages as well as higher shipping costs and product scarcity worldwide.
I was talking with a client the other day and the conversation went something like:
“I’m pissed off, I had three pending sales, one backed out because they couldn’t afford it, another competitor cut my lunch, took what I had done and gave the client a discount to get the sale.”
“But, what I am most pissed off about is the third person who contacted me wanting to take some time to consider the deal. I told them if you don’t trust what I have done then you don’t trust me so find another supplier. The reality is that if I wasn’t so pissed off I believe I would have gotten that sale”.
I’m sure everyone can relate in some way to my client’s story.
Reflection is taking a step back and putting serious thought or consideration into past actions, behaviours and beliefs.
If you were ever going to reflect on a year, this would be it. The turmoil that has been 2020 has impacted everyone, uncertainty in a crisis brings out the best and worst of us.
First and foremost, why would one reflect and why is it valuable?