Overstock

Don’t overstock. 

Sure, you don’t want to run out of product. And sure, suppliers offer discounts for larger orders. But tying up all your capital in inventory can turn your company into the Titanic. If you think you’re going to sell 100 pieces, don’t go and buy 1,000, instead buy 110.

Cash flow, shipping time, storage space and shelf life will dictate how much product you stock. It’s an intricate process, and every industry is different.

Then there’s the matter of how many colors, styles, sizes and other variations to initially offer. Again, fewer are better. Give consumers too many options, and you risk overwhelming them. Let us create a plan for purchasing the correct amount and variation of product.