I am looking at The Wyoming Eagle, Cheyenne WY, of May 7, 1992...exactly 20 years ago. Seems like yesterday.
There are ads with prices. The Sea Galley at the Frontier Mall has Prime Rib and Crab Legs for $8.99 with Clam chowder or salad, and baked potato, rice pilaf, or golden fries.
The Kings Table Buffet has Friday and Saturday dinner for $4.99.
That is about half the price of the same items today. We do not readily think of the past 20 years as a time of inflation.
What was your revenue in 1992? Has it doubled since then? It would have to be double today what it was in 1992 just to be even with inflation. A doubling in 20 years, per the Rule of 72, is 3.6% per year of increase.
I think of a number of safety organizations both for-profit and non-profit that have revenue today that is LESS than what it was 20 years ago. Many of them have the same management that suffers from the same problem that all of us have. Time passes and we are not conscious of relative values.
If our revenue numbers are down is it because we have improved productivity or is it because we are in decline? Are we doing more units of service or are we doing the same or fewer units of service at ever increasing prices? It is important that we examine ourselves to see what is really going on.
One more comment. On page 18 of that same newspaper there is an article by Jim Farber of the NY Daily News entitled "Springsteen Makes TV Appearances." The article begins with the question "Has populist Bruce Springsteen lost some of his clout with the masses?" The article then goes on to give some stats on numbers of records sold and the fact that Springsteen was increasing appearances on tv and other places ostensibly to counteract his decline due to competition, new ideas, and younger audiences.
David Sneed
There are ads with prices. The Sea Galley at the Frontier Mall has Prime Rib and Crab Legs for $8.99 with Clam chowder or salad, and baked potato, rice pilaf, or golden fries.
The Kings Table Buffet has Friday and Saturday dinner for $4.99.
That is about half the price of the same items today. We do not readily think of the past 20 years as a time of inflation.
What was your revenue in 1992? Has it doubled since then? It would have to be double today what it was in 1992 just to be even with inflation. A doubling in 20 years, per the Rule of 72, is 3.6% per year of increase.
I think of a number of safety organizations both for-profit and non-profit that have revenue today that is LESS than what it was 20 years ago. Many of them have the same management that suffers from the same problem that all of us have. Time passes and we are not conscious of relative values.
If our revenue numbers are down is it because we have improved productivity or is it because we are in decline? Are we doing more units of service or are we doing the same or fewer units of service at ever increasing prices? It is important that we examine ourselves to see what is really going on.
One more comment. On page 18 of that same newspaper there is an article by Jim Farber of the NY Daily News entitled "Springsteen Makes TV Appearances." The article begins with the question "Has populist Bruce Springsteen lost some of his clout with the masses?" The article then goes on to give some stats on numbers of records sold and the fact that Springsteen was increasing appearances on tv and other places ostensibly to counteract his decline due to competition, new ideas, and younger audiences.
David Sneed
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