SINFLATION is here
I think we are all having these weird inflation moments these days…. right?
How bad is inflation? My sister and I were talking about this the other day and I told her that when I go out and eat now I am consistently paying $80 to feed my family of four here in Austin at places that used to cost $50-60 and my kids are eating off the kids’ menus, which BTW are now $10-12.
My wife and I celebrated our 14th wedding anniversary two weeks ago and I ordered flowers from our favorite flower place here in Austin. I had my right-hand woman Tiffany call up and ask them to deliver a bouquet of flowers with tulips and seasonal flowers mixed (this is my go-to for all bouquets for my wife). I then told them my budget was $75. This is what I normally spend for a nice arrangement. I came out of my office to find this measly arrangement sitting on the counter. So I ask my wife, “ Where are the rest of the flowers?”, she answers, “That’s what came.” Anyway needless to say, either things don’t cost what they did pre-covid and it is showing up everywhere, yet I am hearing numbers like 6% inflation, which really don’t sound right.
After the flower situation I was curious (Curiosity is my #5 Core Value in my family), so I looked up the news and found this really fascinating article on Shadow Inflation in the NYTs. Basically, it goes on to say that inflation not only comes in the form of increased prices but also in the form of decreased services. I remember the first business trip I had to Atlanta for a client Strategic Planning session in June and I came home to my room after a long day of Strategery to find my hotel room was a mess. I called the front desk and asked them why no one cleaned my room. They answered that they only cleaned the rooms once a week now, because of the pandemic. Shadow inflation is just this, not necessarily raising the price on the room, simply cutting the offering, like cleaning and breakfast, or using cheaper coffee. This seems to be happening all around us. I waited on hold with Charles Schwab for 90 minutes and the same is true for any time we have to call the airlines now to use our credits for flights canceled from 2020. There is shadow inflation all around us!
Strategic Planning Brain Buster
2022 Planning is just around the corner and one of the things I learned as CEO of TMS was this. If you want to make sure your team never misses a quarterly or yearly planning session, it is really simple, book them out 1 year in advance. That way everyone has the responsibility of scheduling their personal lives around these big company events that are set in stone. So look at your calendar. You should have your 2022 dates already booked. I like to follow the following cadence for all strategics.
Q1 and Yearly Planning are done after Thanksgiving either in late Nov or the first two weeks of Dec. I try to steer clear of any date after Dec 10th given the holidays.
Q2 is done in early to mid-March
Q3 is done in early to mid-June (before July 4th holiday)
Q4 is done in early to mid-September
Book these out 1 year in advance and you will always be good to go with never missing your Strategic Planning Session.
Bitcoin has been on fire as of late making a new higher high at $66k. Right before the recent run-up in July of this year, I read this article, about how bitcoin was going to $20k. It had crashed from $60k to just below $30k in just a couple of months when this article was written, only to make an about-face and run-up to its new highs. Such a volatile and fascinating example of herd mentality. So are going we to BTC $100k? Bitcoin Billionaire Mike Novogratz thinks so…..then again we were going to $20k just 120 days ago….I should disclose that my biggest win so far with crypto has been my 900%+ return on Shiba Inu. I turned my $35 to $344 in just a few short weeks =)
I had a fascinating conversation on my podcast a few weeks back with Sergey Young on his new book The Science and Technology of Growing Young. I was telling my mom that I could not believe that my grandparents were in their 40’s when I was born in 1978. When I look at pictures of them and of myself and my friends that we don’t look like we are even close to the same age. Then again, I feel the same as I did when I was in my 20’s just more wiser and handsome……age is a mindset in my book. But going back to Sergey’s book, he and I talked all about the research and work he has done around the actual science of aging. It is mind-blowing to learn about how we can reverse aging, telemere lengthening, and how to actually feel and look younger. His book reminded me about a Mind Valley talk I saw by Ben Greenfield on the subject that is mind-blowing as well. I am excited for 100 to be the new 60.
Anyway’s that’s all from me this week. 2022 is approaching quickly and businesses that are set up to scale have the Mission, Accountability, and Performance plans to make their 10,3, and 1-year goals a reality. If you have not seen my free 30-minute training on how to leverage these simple, but effective tools in your biz, then you are behind the curve, my friends. Here is a link to check it out at your leisure, be forewarned….you can’t unsee it once you watch.
Until Next Time,