The Great Margin Drop
You’ve heard of the Great Resignation, right? Well, you’re about to hear of the Great Margin Drop. The costs of doing business are rising, and the price increases that are needed to cover these costs are not sufficient—or not timely enough—to avoid a drop in profit. Most companies will be unable to avoid the Great Margin Drop. The only questions are: how severe will it be and how long it will take to recover? Both of these questions will be affected by things out of our control, such as the economic state of our local area, region, nation, and the world.