LISTEN TO THIS EPISODE:
Why you shouldn't miss this episode:
◉ How lack of a Storage & Organization system cost me a huge sale.
◉ How good inventory management will save you money and improve cash flow.
◉ I share some storage options for your products.
◉ I explain the importance of adding a SKU number to your products.
◉ I'll describe how to give your products a physical address (so you know exactly where they are when they sell)
◉ I share the 4 step system I used to manage my inventory.
Your inventory is products that you’ve likely already paid for with cash, and you’re trying to sell it for cash.
However, while it’s sitting unsold, it is definitively not cash. Just try paying your landlord with 500 iPhone cases.
Inventory management directly affects both sales (by dictating how much you can sell), and expenses (by dictating what you have to buy).
Both of these things factor heavily into how much cash you have on hand. Better inventory management leads to better cash flow management.
With the solid inventory system I share in this episode, you’ll know exactly how much product you have, and based on sales, you can project when you’ll run out and make sure you replace it on time.
So click to listen now.
You will need the diagram below to follow along with the instructions in this episode.
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