328: Rocky Road in 2023?

Reports and analysts are saying 2023 is not shaping up to be a good year for the global economy. Monetary policy and interest rates are slowing the economy down, and most suggest a recession is in the work in the next 12 months. How do we digest this data and apply it to your business? What does this mean for the pet services industry? We break down several key questions for you to think through in your business. We also address the very real need for a support network and the psychological toll a recession takes on small business owners.  Main topics: Create a pricing spread Monitor your debt levels Strengthen your team Watch your mental health Main takeaway: Preparing for a recession is more than just focusing on your business and fundamentals, it's about building a support network and keeping track of your mental health.   Links: Handling inflation:https://www.petsitterconfessional.com/episodes/292 Uncertainty: https://www.petsitterconfessional.com/episodes/266 NAPPS sign-up: https://petsitters.org/page/EventsTab Recession in 12 months? https://www.bloomberg.com/news/articles/2022-10-17/forecast-for-us-recession-within-year-hits-100-in-blow-to-biden  25 year low mortgages: https://www.mortgagenewsdaily.com/news/10192022-mortgage-application-volume Job losses on the horizon: https://www.beckershospitalreview.com/finance/economists-expect-recession-job-losses-by-2023.html Recession and mental health: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4880023/?utm_source=fbia and https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4741013/ Buy PSC Merch Give us a call! (636) 364-8260  Follow us on: Instagram, Facebook, Twitter Email us at: [email protected] Full show notes and transcript   Sponsored by: ❤️ Our AMAZING Patreon Supporters Pet Sitters Associates Visit: https://www.petsitllc.com Code: Confessional