Treat Your Inventory Like Cash!Sep 06, 2022
Your inventory is your biggest asset.
As your biggest asset, your inventory needs to be thought about like cash on hangers and cash in boxes.
When you purchase something so that you can resell it, the value happens once that item is resold.
Your inventory is cash to you.
You need to be sure you're counting and recording that cash. You need to know exactly how much cash you own.
So when you receive inventory, make sure you put it into your system properly.
You want to be sure you can track the cost of the inventory, the margin of the inventory, and how quickly that inventory turns.