646 - The Impacts of Tariffs on Organize 365®
Organize 365 Podcast
Navigating Tariffs and Supply Chain Challenges in Business
This chapter explores the complexities of tariffs on imports from China, highlighting their effects on small businesses. The speaker shares insights on managing inventory, pricing strategies, and personal methods for adapting to economic shifts.
This important update is being recorded on April 8th at 3pm. I hope there haven’t been too many changes by the time you listen to this episode. There have been so many economic changes and the atmosphere is starting to feel a little uncertain like it did about 5 years ago when Covid reared its ugly head. There are 3 types of responses to what’s going on. Those who know too much and they are thinking way too far in the future, those who stick their head in the sand and don’t want to know about any of it, and those who know just enough to make positive, proactive, profitable choices for their homes. As a CEO I am in the last category. I’m in preservation mode to preserve Organize 365® and my employees' jobs. I tried to give you different perspectives of what is going on from the overall economy, from a CEO, and as a household manager.
Job Security & The Stock Market
There are three things people are worried about right now. Two of them are job security and the stock market. Come to find out federal jobs aren’t secure! In 2008/2009, people didn’t think it was possible to lose your house. In 2020, people didn’t think we could be locked in our homes.
I told you in a previous episode that I don't understand the stock market so I don’t have much advice. Greg and I decided long ago to invest in the stock market, Greg takes care of that. Our children are invested in the stock market. And historically the stock market always comes back.
Supply Chain
There was never a toiler paper supply issue. We had plenty of toilet paper because it’s made here in the U.S. Size was the problem…it was only available in industrial sizes for like schools and stadiums. But where we are going to see supply chain issues will be from items that come from China. We are in an economic war. My recent order from China is going to be tariffed at 121%!!! That’s right! Half of this episode is about sourcing my supplies and how & how it has changed. Due to the tariffs, expect to see fewer choices at come point and quantity available to decrease if it comes from China. I explained a lot about how the tariffs came to be, how they added up, and what they mean for the American supply chain. I offered solutions to keep your household supply chain supple.
How is Organize 365® responding?
As a CEO that looks into the future, I always have an 18 month to 2 year supply of physical products. Organize 365® isn’t going anywhere! We aren’t passing the tariff expenses to our customers, we don’t have to, as I explained, because of the way I have financially structured Organize 365®. And we aren’t ordering from China for now.
I am anticipating working with an American company for our Sunday Baskets® in addition to other products and may continue to work with them once this whole thing blows over. I speculate it will be a good 18 months till our economy stabilizes again. We’re running leaner with daily operations. And we’re thankful we didn’t raise expenses by moving like we wanted or getting the ERP system.
And most of all, always wondering as economics are changing, how can we meet our customers where they are. So, we have decided to offer upcoming planning days for home (5/3) and Friday Workbox® (6/6) and Teacher planning day (7/9) for a 20% discount from $250. You will get the planning prep day, additional videos, the 4 hour planning day live webinar with replay access for 6 weeks, and the workbook. Stop spiraling, think about the root cause of the supply shortage you experienced during Covid, and start planning. The sky is not falling. Planning is the one thing you can do that will give you more time, help you make better decisions, make your money go further, and make you feel like you are in the driver’s seat.
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