Heyo! Welcome to the $100 MBA Show powerful Business Lessons You Can Count on to help grow your business I'm your host your coach your teacher Omar's at home.

I'm also the co-founder of Webinar Ninja an independent software company I started back in 2014.

In today's episode is Q&A Wednesday.

On Q&A Wednesdays we answer a question from one of you, one of our listeners.

If you got a question you want to ask, go ahead and email me over at omar at one zero mba dot net today's

question is from Greg and Greg asks hey omar as you know around the world

inflation is going nuts all my costs are going up, but my prices haven't. Should I raise my prices

with inflation? Or will I upset my customers, especially because I have a reoccurring billing type of business where I charge my customers a fee every

single month.

Would love your take.

Thanks so much, Greg.

This is a great question, Greg, because I'm sure a lot of people listening are going through something similar.

Inflation has gone nuts in the last few months.

In fact, in the last year, some countries are seeing inflation as high 7, 8, 9, and 10% in a single year, which is pretty bonkers.

The inflation rate itself in the US went from 4.9 to 8.2 in just one year. That means the rate of inflation has nearly doubled in just one year.

This is causing a lot of companies to look at their balance sheet and say, hey, where can we save some money?

Where can we reduce costs?

That's why you see so many layoffs happening in big companies,

because labor is probably one of the biggest costs for them.

But if you're not a Facebook or a Google, you don't have that many levers to pull.

You don't have that much access to capital to shore up a tough time like now. But one of the

levers you can pull is price raising your prices to bridge the gap between

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