Part 4/8:
The first action item is ensuring a solid sales mechanism is in place. Without having a functioning sales machine—whether through e-commerce platforms like Amazon or Shopify or other retail channels—ordering large quantities of untested inventory is a risky venture. It’s vital to have customers ready to buy before increasing inventory levels significantly.
Test Before You Invest
Next, the entrepreneur stresses the significance of validating products before investing heavily in inventory. Instead of leaping to order thousands of units, businesses can benefit from starting small—perhaps within the range of 10 to 100 units. This allows for experimenting, soliciting feedback, and adjusting the product before committing to larger orders.