Monday, January 7, 2019

Inventory and Gift Cards

It's tempting to buy lots of inventory so you don't run out and you can take advantage of bulk pricing, but it comes with a downside. Buying inventory is like taking cash out of your wallet and turning it into several different gift cards.

Instead of $20, you now have $5 at Starbucks, a $5 Amazon credit, $5 at the local spice shop, and a single $5 bill left over for any other purchases. If you only actually needed $3 worth of coffee, a $3 kindle book, and $4 in sea salt, then you have $5 sitting around in unneeded product. You could have had double the amount of cash in your pocket to use on a different purchase.

1 comment:

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