Business. Inventory. Sales.
Henry A. Kissinger was more than a political figure. He was more than just Nixon’s right-hand man.
He was a thought leader on so many subjects. He was sought out by many in different worlds and fields to help and grow ideas.
This quotes I picked for today just seem to resonate with me about sales and business in general.
I can remember when working in retail as a young man in college how the clothing store I worked at watched trending clothes that sold well and how we would delete the clothes that sat on the shelves.
Now this didn’t always lead to great sales since we would be out of the best sellers most of the time, but it did reduce inventory that would sit for months and then it would be discounted for less than what the company paid for it.
In the long run, this unwritten rule of Kissinger’s worked for us.
Let me know your thoughts on this and if in your business you follow this unwritten rule?
If eighty percent of your sales come from twenty percent of all of your items, just carry those twenty percent.