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ZC 89 - Inflation Is Here! What Do We Do Now?!
Today's episode is a follow up from our episode with Dr. Christopher Erickson 7 months ago about inflation and where we are now and what this means to small business owners.
Dr. Christopher Erickson is a professor of economics at New Mexico State University and has been in several episodes of our podcast.
Check out our previous episodes with Dr. Christopher Erickson.
ZC 41 – Ask an Economist, What is “Opportunity Cost”
https://zonconpodcast.com/podcast/zc-41-ask-an-economist-what-is-opportunity-cost/
ZC 42 – Fixed and Marginal Costs – Ask an Economist Series
https://zonconpodcast.com/podcast/zc-42-fixed-and-marginal-costs-ask-an-economist-series/
ZC 68 – “Are We About to See Rapid Inflation?” with Dr. Christopher Erickson
https://zonconpodcast.com/podcast/zc-68-what-is-inflation-with-dr-christopher-erickson/
What's one actionable thing that Amazon sellers can do today?
Don't be afraid of raising prices. Your competitors face the same kind of price pressure.Having more inventory right now is not terrible because if prices go up, you can sell your inventory at a higher price even though you paid the lower price buyer it earlier.
Link to Personal Consumption Expenditures (PCE) index:
https://www.investopedia.com/terms/p/pce.asp
If you looking to find a group of like-minded entrepreneurs that can take your business to the next level, check out the Titan Mastermind. Andrew is one of the leaders of this mastermind.
https://www.titannetwork.com/#a_aid=Andrew&a_bid=f9c3cffa
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By Andrew Erickson
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Today's episode is a follow up from our episode with Dr. Christopher Erickson 7 months ago about inflation and where we are now and what this means to small business owners.
Dr. Christopher Erickson is a professor of economics at New Mexico State University and has been in several episodes of our podcast.
Check out our previous episodes with Dr. Christopher Erickson.
ZC 41 – Ask an Economist, What is “Opportunity Cost”
https://zonconpodcast.com/podcast/zc-41-ask-an-economist-what-is-opportunity-cost/
ZC 42 – Fixed and Marginal Costs – Ask an Economist Series
https://zonconpodcast.com/podcast/zc-42-fixed-and-marginal-costs-ask-an-economist-series/
ZC 68 – “Are We About to See Rapid Inflation?” with Dr. Christopher Erickson
https://zonconpodcast.com/podcast/zc-68-what-is-inflation-with-dr-christopher-erickson/
What's one actionable thing that Amazon sellers can do today?
Don't be afraid of raising prices. Your competitors face the same kind of price pressure.Having more inventory right now is not terrible because if prices go up, you can sell your inventory at a higher price even though you paid the lower price buyer it earlier.
Link to Personal Consumption Expenditures (PCE) index:
https://www.investopedia.com/terms/p/pce.asp
If you looking to find a group of like-minded entrepreneurs that can take your business to the next level, check out the Titan Mastermind. Andrew is one of the leaders of this mastermind.
https://www.titannetwork.com/#a_aid=Andrew&a_bid=f9c3cffa