Joel Block - How Small Business Can Navigate The Currents of 2022

<p>Joel Block, Venture Capitalist and CEO of Bullseye Capital sits with us at The Table to discuss the business climate for 2022. There are many headwinds, but those who recognize them and plan ahead, are the ones who can actually benefit. Joel sees Small Business as the Innovators of the American economy and the ones who can pivot and execute quickly in these troubled times.</p> <p>Join us for a fascinating and in-depth look at where we're heading, the obstacles and the opportunities.</p> <p>1.49 <strong>Interview – Joel Block – How Small Business Can Navigate 2022</strong></p> <p>If you are a business owner, your goal should be to become an <strong>Advantage Player</strong>.</p> <p>Informed, aware, nimble, able to take advantage of changes in the economy.</p> <p>There are different forms of capital, money, human, intellectual, social, political, marketing.</p> <p>The job of the CEO, is to assemble various forms of capital, invest and expect a return.</p> <p>The media and government can no longer deny that inflation is here and going to be.</p> <p>You cannot pump $10 trillion into the economy without inflation being the result.</p> <p>Once labor costs go up, they will not go back down. Labor is a major cost in the system.</p> <p>The benefits labor has gotten will all be eroded by inflation; they will not be better off.</p> <p>The Fed is raising business interest rates, not long-term rates yet.</p> <p>The rise in interest rates will affect the carrying costs of business inventories.</p> <p>You should be looking at the subscription model for some of your sales.</p> <p>Doug, I think your concept of embedded inflation is correct.</p> <p>If interest rates go higher, things can become unmanageable.</p> <p>If a company borrows at 4-5%, plus the bank spread of 1-1.5%, the loan becomes 5-6.5%.</p> <p>Raise the cost to carry inventory and food goes up. Raise food and labor goes up.</p> <p>There is not a lot of understanding about how to manage this kind of inflation change.</p> <p>When the supply side people do well, th