Continuation on 31 Ways To Boost Your End Of The Year Sales. December 15, 2016 - Don’t Run Out Of Stock

This season is a season that you aren’t permitted to run out of stock because running out of stock connotes missing unforeseen sales. Make proper plans to ensure that you don’t run out of stock. 

The story of a widow who was told by her husband Prophet reveals to us that when you are into business especially in a harvest season like this, it is dangerous not to have surplus. This woman tried all she could to borrow as much vessels as she could, little did she know that the provision will stop when her stock ends. This woman was pouring the oil and was dazed at the outcome until she got to the last vessel and the oil also seized.

The implication is that you must try to ensure that your store isn’t out of stock; it triggers you to be on your feet even when the stock isn’t moving. Your stock has a way of limiting your movement or triggering your movement. When your store is out of stock, your passion drops and it affects your sales negatively. 

Avoiding Being Out Of Stock

1.       Take Daily Stock: As a businessman or woman, there is need for you to take daily or timely stock for you to be on top of your stock details. This will be aided by having a sales and purchase record, try to always record every sales so that your transaction will be correct at all times, taking daily stock will aid you to reconcile your stock accounts in case of a transaction not recorded.

2.       Have A Daily Sales Target: Like written in one of my articles, you need to have target for you to hit your target or get close to hitting your target. Your target will put you on the run; it will give you sleepless night, which will turn to a boost in your sales. A typical bank marketer in African country will tell you his experience; they are always placed on target, which he must hit with no excuse. Hence, you can have daily sales target, you can literarily tell when next you will need to re-order.

3.       Friend Your Supplier: Relationship is a key subject that can make life easier for an individual especially business people. You must take your business to a friendship level, don’t only call your supplier when you need product during this period because there are times supplier becomes King and such time is this festive time because they will not be able to meet up demand. It is your friendship level at this time that tells the quantity of products that will be allotted and delivered to you.

4.       Place Your Order Before You Are Out Of Stock: I was in a supermarket to purchase something and I wondered when I was told they are short of the product in a time like this, when you don’t need to wait until you are short of the product before you call.

At a time like this, you are to know that delivery will always be delayed because of high demand; therefore, placing your order three days ahead of your target will not be a bad deal. Ensure you don’t run out of stock.

5.       Pay Cash For Goods Order: This is never a time to owe your suppliers because you will be molested and disappointed. It is a time of cash and carry; it is a time you don’t need to divert your business money for other purposes.

6.       Deploy More Cash For Purchase: It will not be a bad option or alternative for you more cash into purchasing more of the product you sell. You can place a request from spouse, family members and friends to give you cash to buy more quantity of the products you sell. 

Out Of Stock Is Out Of Sales

Watch out, out of stock is out of sales. It is impossible at this harvest for anyone to make an upfront or down payment for any product, knowing that there is competition around you. People prefer to go to where they will do a cash and carry. Therefore, if you are out of stock in this period, surely, you will be out of sales.

People wouldn’t pay for a product that is not available, even if they are your best friends; they will surely take the cash somewhere else to boost their sales. 

Dapo Olaleye, an Associate Pastor in Balance Gospel Ministries International Headquarters. He is the President of Business Xploit Group with Nine Subsidiaries through which lives are blessed around the globe. Chancellor of Business Xploit institute, Facilitator in School Of Discovery (Gospel Dominion Prayer Ministries), author of seven books (Unlocking Your Potentials To Profits, Uncommon Sense Guide To Making Money, Woman! You Are A Blessing Not A Burden, Ladies Of Dignity, More Than Money, A-Z Secrets Of Academic Excellence, Becoming An Academic High Flier and Generating God’s Ideas For Business, Ministry, Career (CD)). He is an alumnus of Daystar Leadership Academy and Daystar Business Academy and Student of Word Of Faith Bible Institute. He can be reached via: bizxploit@gmail.com, 08122927079.