Have you ever looked at an item and thought that’s a knock off? Have you ever bought something and it wasn’t what you expected it to be? In the Entrepreneur world, everyone is trying to sell everyone something. Most of the time its false information and can be misleading and confusing. I know because this happened to me. The second part to that is as startup Entrepreneurs we don’t have a lot of money to get started so we buy the cheapest products to get the highest return on our dollar. This can hurt us in the long run and I have a system that I use to determine what I will be buying.
Let’s look at the Entrepreneur selling products to the people. If you are selling a tangible product meaning physical product you should own that product. Now you won’t own every product you sell but you should at least be willing to buy the product. If you wouldn’t buy or use the product, then you should not be selling it. When you create an information product it should have a tried and tested system that you know works. Not you think it works. You should have no doubt in your mind that this will work. Before I buy a product from anyone I watch them for a little bit. I want to see what they are talking about I want to see if they are consistent with the messages that they put out. I’m not going to buy from a person that says one thing today then switches tomorrow. That shows me they don’t have a real system because they are flip flopping. If they had a real system, why would they then need to change. That’s a red flag for me and I watch for that and you should to.
As far as inventory goes when purchasing products to sell it’s a little different. I look at 3 things. The first is can I do or get this for free. If so, how? Is this product any good, because you can always upgrade at a later time. The second thing is if I cannot get it for free can I get the best price on it. I want to get it at the lowest price available. The third thing is how valuable or how good is this product I am about to purchase. The second and third rule go together. I don’t want the cheapest product if it is crappy I want the best product at the cheapest price that I can find. Example a crappy product might be $10 but a better product might be $15. If I can afford the $15 product with the better quality, then that’s the product I am going to buy. No, it’s not the cheapest but it’s the cheapest with best quality.
It took me time to come up with these rules because of trial and error. Those errors cost me a lot more time and money in the long run. As I was figuring things out and sorting through all the noise in the market place I started to come up with different strategies that work. Had I of known these in the beginning I would have been so much further but I wouldn’t have been able to teach what not to do. So, implement these little strategies and cut down time and mistakes. Good Luck
Obstacles are those rightful things you see when you take your eyes off your goals.