The only way to fight inflation is by increasing your income and the only way to increase your income is by increasing your personal sales results or the company's sales. Promotions and higher wages do not happen in this environment. Individuals and companies will have to learn how to sell in an environment where the cost of goods and services is going up. Sales people and sales organizations have not had to do this in decades!
There are two reasons to improve your sales skills: (1) higher cost to feed, clothe, and provide housing for households and (2) whatever products and services you sell are going to
become more expensive. This will make it more difficult for people to make sense of whatever you are selling forcing you to be better at justifying the higher prices of your goods and services.
There is no way around it; the cost of goods and services are going to get more expensive. The yield curve between 2 and 10 year treasuries is the steepest in decades. This means that interest rates are headed up which will increase the cost of debt to individuals and companies.
Crude oil, cotton, wheat, sugar, produce, and commodities are hitting historical highs. This indicates higher prices at the pump, the grocery store and for the production of goods and services.
The only way to counter inflation is with increased revenue. The only way to increase your revenue is by improving your sales skills and sales results. Companies that bring on more workers they are expecting more production from the workers they have. If the company is unable to produce more revenue with increased payrolls they won't justify higher more people. In periods of unemployment and pressures of inflation higher wages are the last thing to go up. The only way for you to increase your income is by producing more revenue for your company and then participate in bonuses and commissions. Those with salaried jobs who have no way to increase income are going to experience less money after household
expenses.
Now is the time to get your selling shoes on. Even those people that don't consider themselves sales people should start to learn about selling as this is the only way to really counter
inflation. Notice to all sales professionals - this is 'game-on' because competition for every dollar is going to become fierce. Whether you are selling insurance, banking products, automobiles, furniture, produce, jewelry, boats, dental implants, gym memberships, home improvement, real estate, mortgages or whatever you sell you will have to justify and make sense of higher prices to people and companies who have less money.
The pain is shifting again and the economy adds another challenge to its unemployment situation and its called, inflation. The only way to alleviate the pain of higher prices is to increase your income through the selling of goods and services. And the selling of goods and services becomes more complex as prices of all goods and services start to increase while wages stay the same. Well trained, professional sales people that are sales motivated and can demonstrate real sales skills will become increasingly valuable to companies, so get your selling shoes on!
Grant Cardone, NY Times Best Selling Author and Sales Training and Sales Motivation Expert