In this episode, Melinda Emerson discusses the impact of inflation on small businesses, including shipping, delivery, and supply chain issues. She shares strategies for dealing with inflation, refining business operations, re-evaluating financial management, and handling debt. She also talks about cash flow strategy, supply chain management, and employee management during a labor market crisis, before concluding with financial planning advice.

(0:00) Introduction: Inflation and its impact on small businesses

(1:15) Effects of inflation: Shipping, delivery, and supply chain issues

(2:00) Strategies for dealing with inflation: Price adjustments and team management

(5:02) Business operations refinement: Focusing on best sellers

(6:50) Financial management: Re-evaluating subscriptions and automating processes

(8:12) Debt management: Getting real about business debt

(9:29) Cash flow strategy: Setting up an emergency savings account

(11:02) Supply chain management: Lowering risks with multiple vendors

(12:05) Employee management: Planning for staff turnover during labor market crisis

(13:04) Financial planning: Revisiting finances, budgeting, and tax planning

(14:21) Conclusion: Encouragement for small business owners to weather inflation and possible recession