Staring you in the face
That you wages bill is going to increase by more than 33% this year - for the same team. To put it another way - that robust wages KPI of 17.50% is history - and it's time to start budgeting on around 25%;
That you will have to increase your prices by the same margin - 33% - during 2022, to maintain your profit margin - not just because of increases in wages (that only accounts for about 12% of increased costs) but because all of your variable and fixed costs are increasing as well;
That if you are not absolutely ALL OVER these numbers this year, you are in for a nasty surprise come the year end, if not sooner;
I'm so glad my Quarter 2 client workshops (beginning in Belfast on 29th April) are totally focused on 2 days of financial analysis for both managers and owners;
Equally, that I'm presenting a series of Practice Plan regional workshops on the same subject over the coming months HERE
It's not too late to join us in The Extreme Business 100 - we currently have vacancies for 3 additional clients.
Just visit the link and register or email me at firstname.lastname@example.org for a free Zoom consultation - no charge, no obligation.