Inventory-Based Businesses: Know Your Numbers!

boutique business boutique business tools boutique ownership education buying coaching cost of goods sold growth inventory profit first Sep 12, 2022

Think about "knowing your numbers".

If you're an inventory-based business, there's nothing more important than this.

My recommendation: start by falling in love with one number specifically: maybe it's your sales goal, maybe it's your margin, maybe it's your average ticket or cost of goods sold. 

There's no wrong place to start.

After you pick your metric, get to know this number better than anything else. Learn everything about it. Learn it inside and out.

Start tracking and measuring this number. Get to know this number, and the rest of your numbers will start to feel less scary.

When thinking about your business numbers feels daunting and overwhelming, this is the very best way to get going. The practice will get quickly easier.

Want more support with your business numbers? Sign up for the upcoming Product to Paycheck Challenge!

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Weekly bite-sized advice from Ciara Stockeland.