Dec 9, 2022

Canmore, Canada – “I guess they’re all on their smoke break.” I quipped. 
“Or maybe the entire gang just flew in from Mexico and ran back inside to get warm…” countered my wife.

Can’t read the full email – click here for the online version.
 

Our plane was at a stop on the tarmac. It had landed on time, after a 6-hour, direct flight, from the southern coast of Mexico. 

The temperature outside was 40 degrees Celsius colder, than our departure point.

The pilot comes on with some apologetic words about our gate not being ready. Another plane is waiting ahead of us. Same problem, I guess.

Behind us, another plane taxis to a stop – waiting for us.

I’m thinking, how did they not know we were coming? Departure was on time. 6 hours later, on schedule – we arrive – on time. It’s not rocket science.

Things did not go better once we’d made it through customs.

From the frequency of bags showing up on the carousel, one got the impression that there was only one or two guys working down below on the baggage. 

I heard mention later from a fellow passenger that the airline had outsourced it’s gate and baggage handling. They weren’t doing it themselves anymore. Evidently, that company was not up to the task of multiple planes arriving at the same time – even at a significant, international airport like Calgary, Alberta.

“Maybe half the employees called in sick? Citing the big ‘C’ as the reason.” Said a friend of ours the next day. “It’s happening all the time here in Canmore. Shops and businesses are having a hell of a time maintaining hours and providing a decent level of service.”

We’ve witnessed similar problems everywhere we’ve been the past 2 ½ months. From Ontario through New England to even the coasts of Mexico. 

Besides our experience, signs abound similar to these: 

“Sorry closed today – short staff”

“Employees wanted – inquire within”

As if finding good employees, that stay healthy, show up and are productive, wasn’t enough of a challenge for you, the business owner, there’s more negativity coming down the pipe. 

This from the Wall Street Journal:

Sales at bricks-and-mortar stores over Thanksgiving weekend fell short of prepandemic levels and were behind last year’s totals, another sign that Black Friday is losing its status as the crucial kickoff to the holiday-shopping season.

“It used to be people would wait in line from midnight for the stores to open at 4 or 5 a.m….”

And this from the UN’s International Labor Organization:

This year’s ILO Global Wage Report… shows that, for the first time this century, global real wage growth has become negative while real productivity has continued to grow. Indeed, 2022 shows the largest gap recorded since 1999 between real labour productivity growth and real wage growth in high income countries. 

Now, I am no economist, nor is forecasting my forte. But…

With interest rates continuing to rise, there’s no question many if not most, of your customers, clients and patients are feeling the pinch. And that means….

Less money to spend with you.

What are you going to do about? How will you maintain current levels of sales and profits, let alone grow? 

My advice is two-fold.

Make sure you are earning the profits margins you want and need. (ergo – know your financials)

Then, implement all 

the strategies and tactics you can to maximize the earnings from your existing clients and/or patients. I’ve a free tool that allows you to determine the profit potential of improvements in 12 key strategies. You can check that out here.  

Until next week,

Stay healthy and focus on profit! 

- Hugh 
The “Profit Accelerator” Expert

P.S. Are you an independent CPA or Financial Professional, who works with small business owners? If you are, then you would like my latest presentation: “How to Differentiate Your Practice From Every Other Financial Professional…...and keep your best clients from leaving for your competitor!” 
You can get the replay here. cpamagic.localbizmastery.com

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