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193 | The First Golden Rule for Effective Stock Management with Catherine Erdly
Manage episode 411857777 series 3466336
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Is your cash flow problem really a stock management problem?
The reason I asked this question is because recently when I ran the Retail ROAR summit, I asked everyone who signed up what their biggest issues were. And the biggest issue that came up, particularly in people with a six-figure (or more) businesses, was their cash flow and people were talking about issues that they were having managing it.
This happens to be an area that I love to geek out about so I wanted to share my experience from the retail industry to explore how improper stock management can lead to significant cash flow challenges. And to that end I have three golden rules for stock management that I want to share with you over the next three episodes.
Today is Golden Rule Number One - have a stock management plan. We dive deeper into why this is so important to start with and I will give you some tips on how to accomplish this.
And if you are looking to get some help with managing your stock register to get more information about my latest service at https://futureretail.lpages.co/feel-good-business/
Let’s Dive In:
[00:00] Introducing The Golden Rules of Stock Management
[02:0]3 Do you have a cash flow problem or do you have a stock management problem?
[07:56] Why I understand so much about stock management.
[10:18] How Tame Your Tiger will help your stock management
[12:43] Golden Rule of Stock Management #1 - Have a Stock Plan
[18:05] Coming Up Next - What is driving your sales?
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