June 13, 2019

A couple years ago we had an opportunity with wholesaling @define_nutrition to a number of retail stores. There was potential for a lot of sales, but with that came pretty high inventory needs.
.
When it took off we were fairly low on our Define Whey Chocolates. We ran the numbers based on what we thought sales could be, and found that we had just enough inventory to last us 8 weeks. This was also the estimated amount of time it took to produce another round of product from the manufacturer.
.
That afternoon we jumped on the phone, placed an order and asked for it to be rushed to hopefully have this round before we ran out. They had our back and got that round moving as fast as possible. Everything was set for success.
.
Until...
.
The sales of our products did not move nearly as fast as we though they would.
.
Now, I’m sure you have heard me elaborate how many problems we have dealt with when working with manufacturing products, it just seems to be part of it, and our manufacturer does a great job doing everything they can to take care of us.
.
However, this problem was completely on us. These retail stores were really helping us out by picking up the products in the first place, the manufacturer did a great job getting our order to us ahead of time, we just made some not so accurate predictions and made a call that did not work out for us.
.
We now had plenty of stock on define whey chocolate, and an entire order of 500 units coming our way without enough sales to pay for them.
.
Now, making these calls are still tough, I think we have gotten a little better about them, and when we make bad ones they do take a hit on our cash flow. When this happened though, @triadfsn was not doing nearly as well.
.
This resulted in Chad, Vincent and myself not being able to pay ourselves at all. We actually ended up not paying ourselves for an entire year...
.
I have since started paying myself, it’s just crazy how such a tough call like that can result in either huge success and tons of sales, or an entire year of no salary.
.
#unsuccessfulentrepreneur