RUNNING YOUR BUSINESS
TIME TO BREAK OUT THAT BRIEFCASE~ you got this girl
A perspective on inventory on hand. Imagine you go to your favorite dress shop to get a dress for a special occasion. They only have 1 or 2 dresses on hand in your size that FIT PERFECTLY, however they only have them in odd colors; but they can order them and deliver later. How likely are you to wait? I suspect you would go to a store with a better variety on hand so you can take it home with you right away! Am I right?????
Listen to my favorite Mentor NSD Stacey James as she shares her wisdom on the value of inventory on hand when you are building your business!
WHY MOST CONSULTANTS CARRY INVENTORY
Today more than ever, women want instant gratification, so most women don't want to wait to purchase something after they have tried it and know that they want it. This has been proven to increase the sale amount.
When you have ON THE SPOT delivery; women learn to depend on YOU to have what they want in stock when they run out!
Inventory allows you to service them immediately!
When you choose to carry inventory, you can see faster profit in your business.
Every time you hold a party or get a reorder, you can deliver and collect payment immediately.
If you choose to place small orders more frequently you will be spending more in shipping.
Did you know that no matter how big your MK order is; the shipping is a SET fee of $14.95?
If you choose NOT to carry inventory, you will need to become a master of time management because you will be spending more time keeping track of who ordered, what they ordered and who still needs delivery on orders placed.
Inventory on hand means they get it as soon as they order it!
It is a proven fact that women are 57% more likely to purchase when you have it on hand!
The great thing is that you do have a choice to do it either way.
6 WAYS TO FIND MONEY
BORROWING FROM YOURSELF
Draw out money from a personal savings/checking account & set up a repayment plan with the sales from your parties!
(or a rich relative)
If you are like me; I have a ton of stuff just taking up space in my house that could be sold for extra cash!
This is a win win when you can de-clutter your home and come up with some working capital to start a business!
7 day selling challenge
A large percent of consultants LOVE this method the best! You can start your business by selling the inventory before you even order!
Because our profit is 50%, take the 1st 50% to order what your friends need & take the other 50% and invest it into product to have on hand!
My recommendation is to shoot for selling a minimum
of $1,200 in your 1st 7 days
and that will get you your
new consultant bonuses of $495.50 in retail at the
$1,200 wholesale level.
be a party girl
This is similar to the 7 day selling challenge except your sales can be substantially higher. I will work with you to help you book your first parties, and we can do that before your showcase even arrives and I will bring all of my samples and demos or we can host Facebook live or Zoom parties too.
0% interest card
I am not for credit cards unless YOU HAVE AMAZING MONEY MANAGEMENT SKILLS!
If you do, then the
Mary Kay Visa has a
12-month, 0% interest card. This is a great option, if you pay it off every month, you can earn 3 reward points for every $1 in inventory orders to get cash back.
But YOU MUST BE very disciplined with money before I recommend this option.
Bank or credit union loan
This is the 2nd best option to start a business if you are determined to succeed at your business.
Banks and credit unions charge interest on your loans but you can usually get a payment that works best for your situation.
The faster you pay it off the less the interest you pay. Credit unions normally have a lower interest rate than a bank. It is best to shop around if you don't have a great one already.