📉 Inflation Still Top Problem for Small Businesses

📬 Friday, March 15, 2024

Here we go, it’s Friday! And that means another Sales Report hot off the press!

Here’s what you missed while you were out selling and growing your business:

1) US Business Inventories Unexpectedly Unchanged in January (‘24). 👀

A report released by the Commerce Department showed business inventories in the US were unexpectedly flat for the month of January. Does this finally signal an oncoming recession? Read more here. 👈🏼

📎 Sales Tip(s) of the Week:

The success of your business will always be measured by the level of SALES talent you can attract.

At some point in every entrepreneur’s journey, the founder will have to give up day-to-day business development duties.

This can be a scary time, and proposition, for many business owners.

Sales Homie Tip:

Align yourself with the right resources to ensure you always source the best SALES talent. And if you choose to work with an agency, partner with one that focuses on SALES.

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2) From 1985 - 2022, Costco Grew Its Sales and Profits at a Compounded Annual Rate of 12-13%! 📈

They retain 93% of their “members” each year and have a 92% retention rate among its employees. Their strong growth, without compromising its goal to be the best, comes from two disciplines. Read more here. 👈🏼

3) Inflation Still Top Problem for Small Businesses. ❌

In a survey conducted in February, 23% of small business owners reported inflation as their most important concern in running their business, surpassing labor quality. Read more here. 👈🏼

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