How to Make Wise Decisions Before You Buy
How do designers spend all of their cash before making one sale? By buying merchandise on impulse.
I had the same problem when I opened for business. When I saw certain products, I bought all available stock. I had to have it.
Years later, some of the same products sat on my shelves. It was dusty, unattractive, and could not be sold because it was too old, a total waste of money.
That lesson taught me to ask myself a question before buying merchandise: “Which of my designs will sell this product?”
If I could not answer the question, I didn’t buy it.
Consider this before spending your precious cash.
1. Review your cellophane and ribbon inventory. I know some designers with enough of each to open their own store. Do you really need another roll?
2. Resist the urge to buy clearance items. There’s a reason that another business cannot sell these products. Will it sell for you?
3. Repurpose your own merchandise. If plush toys or tea cups don’t sell in one theme, either give it away as a promotional item or sell it as a standalone gift. Repurposing won’t always work, so think long and hard before buying.
The bear in the above photograph was unsellable in my get well baskets, but they were a hit in the Valentine’s Day and my “I can’t bear to be without you” designs. This is an example of repurposing that worked.
Think, think, buy.
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