Minisode 21: The Inventory Trap - Everyone in Retail Business Should Hear This

Description

You know… running a product business will teach you math you didn’t even know you needed. Not the cute math… the painful math. The “why is my cash gone yet my shelves are full?” math. Today we’re talking about inventory mistakes, the true cost of dead stock, and why inventory turnover and run rate are non-negotiable if you want a healthy business. Inventory is a beast to master and has to be mastered to really optimize your business - most importantly cash flow! Learn why dead stock is detrimental to your business and get specific and practical tips on how to better manage inventory. "Inventory doesn’t care how passionate you are. It doesn’t care how good your brand is. It doesn’t care how many followers you have. Inventory rewards: Systems, Discipline, Cash flow awareness, negotiation skills, and the willingness to say “no” to suppliers If you master your turnover, your run rate, and your inventory planning, you stop running your business like a kiosk…" Find our host on socials: ⁠Instagram⁠⁠ ⁠TikTok⁠⁠ Follow Founder Diaries on socials: ⁠⁠Instagram⁠⁠\TikTok - @founderdariespodcast   Reach out to ⁠DigiTax⁠ to make your eTIMS compliance much easier: ⁠https://digitax.tech/⁠ | ⁠+254795279403