Inventories are the yard sale of business. They are all of a sudden there.
Inventory is the yard sale that is the primary reason most of us go to a yard sale. Because inventory is so common, it’s hard to hide the fact that most of us go to a yard sale. The yard sale itself is the beginning of the end.
Inventory turns out to be a lot more common than you might think because it’s actually quite easy to hide.
And its not just the yard sale that leads to the end of inventories. It also seems that inventory is the primary reason so many business owners create a “one-stop inventory” to keep their businesses and employees well stocked.
Not surprisingly, the first thing that people do after they’ve found out that there’s an inventory is call their accountant. And while the accounting department may not be a good place to hide your inventory, its one place you can keep your inventory secret. So if you’re a small business owner, it might be smart to keep your inventory in an accountant’s office.
In a way, the accountant is the first person that comes to mind when talking about inventory. But while the accountant can be an excellent resource, its not the best way to keep your inventory. Because as inventory becomes the biggest part of your business, it can also become the biggest hurdle to keeping your other assets, like customers or employees.
Just because you have a lot of inventory doesn’t mean you should hide it. You should take a few steps to protect it, just to reduce the risk it could be stolen. But as you can see in our infographic, there are lots of ways to do just that. You can sell your inventory in an estate sale, where you can also keep your inventory in a private safety deposit box. Or you can create an online inventory platform that’s available to your customers and employees.
As a business owner, you’ll have to be aware of both the risk to your business and the risk to your client. Most clients will want this inventory to live in a safe place, but there are ways to protect it and keep your inventory away from potential thieves.
The internet has made it much easier to take inventory, but it can also make it much harder. For example, if a business sells in the stock markets, it becomes much easier to get an investor’s attention, but if you’re a small firm selling in the stock market, it’s much harder to get investors. Even if you’re a small firm with a lot of cash, you may not be able to get investors for a certain amount of time.
Because every sale counts, a small firm will have a lot more inventory than a large firm. This means that when you sell, instead of having a big pile of cash, you could instead be having a small pile of cash. Because fewer people will be willing to take it from you, your business will likely be smaller.