Tight on Cash Flow? Let’s Turn Your Old Inventory Into Cash for You | Episode 104

Show Notes:

Let’s turn old inventory into cash flow. Think of all of your inventory as dollar bills. And I mean everything. Inventory is cash sitting on your shelves, backrooms, closets, and storage bins! Let’s turn some of that inventory cash sitting there and help meet your revenue goals, pay the bills, fulfill payroll, etc. 

In this episode, you’ll learn some great tips to help you boost your cash flow just by clearing out the clutter. Have a Blowout Sale and “Marie Kondo” your inventory to get rid of everything that doesn’t spark joy (or make you money)!

1. Assess the Mess – Take a good, honest look at your stock room inventory and jot it all down. Including your project pieces.
2. Make the Decision and Do it – Don’t think about it, don’t ponder. Declare it publically!
3. Promote it – Hyping up the sale will help you win! Keep it simple and don’t overthink. Email, Facebook, Instagram, local businesses, online bulletin boards, etc.
4. Move it – Consider your pricing. Get the items that are no longer serving you and get them below cost. Detach from what you paid for the item and get it sold.

Do you hold a clearance sale in your shop? What’s your process?

Listen on:  Apple Podcasts | Spotify | Radio Republic | YouTube | PlayerFM | Stitcher | iHeartRadio

A Quick Glance:

[0:01] Intro

[2:54] Spring clearance sale

[7:23] Step 1: Assess the mess

[11:00] Step 2: Make the decision

[12:47] Step 3: Promote it

[15:15] Step 4: Move it

[18:17] Recap

Resources mentioned:

Retailer’s Inner Circle

Related podcasts you may like:

Episode 27 – Closing the Sale in Your Creative Store with Sales Maven Nikki Rausch
Episode 86 – Take Control and See the Full Potential of Your Business
Episode 90 – 2022 Retail Trends: Customer’s Expectations and Experience

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