Unless whatever you’re selling is truly unique to you, few customers will wait around for you to get something in for them that is already available elsewhere. As is often the case in retailing, sales are won not on the basis of a cheaper price, but by product availability.
Never underestimate the power of the Internet and also the potential damage it can do to your sales. For example, let’s say you are hugely successful in creating a demand for your niche products. Yet because of cash flow problems, and a lack of working capital, you’re unable to stock your shop sufficiently to be able to offer immediate product availability.
You can be assured here that rather than wait for your stock to become available, potential customers will be looking online for that availability. The sad thing is that when this happens you’re actually selling for the competition.
So, please, please get, borrow, or beg sufficient working capital to give yourself the best possible chance of success. And if you’re unprepared to risk everything for your business, then perhaps this entrepreneurial life is not for you!
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