Stagflation is a tough environment in which to operate a business. Costs rise and wages increase. Meanwhile, sales may stagnate or decline due to sluggish or declining economic growth. Management can use stagflation as an opportunity to take a hard look at their underlying business and make changes to grow stronger.

Many are predicting 2023 will be more or less a continuation of the last couple years - full of challenges. A recent term, “permacrisis” - as in, we are all in a constant state of permanent crisis takes on considerable meaning when planning a company’s goals and activities. Not that we’ve seen it all, but we’ve certainly seen a lot AND continue to manage through crises like inflation, recession, COVID, wars and expensive capital.

For all that may ail the entrepreneur, manager, founder or CEO - Let’s revisit a few basics and review a handful of tools to use to plan out the year.

Here are six steps to plan a better business in 2023 (and beyond)!

If you own a business or are a member of company leadership, whether it be a string of gas stations or a Fortune 500 Company, 2023 may be a tough year for your bottom line. Hopefully, all sorts of negative business influences—like recession fears, stagflation, and labor challenges—are on your planning agenda. David Hollander and Elijah Pfister discuss tips to help you address some of these issues and make smart business decisions to keep your business healthy this year.