So how often do you guys make wrong decisions and are stuck with your inventory?

[glacier922]

As the title says. Making a wrong decision is a big cost.

[jakobrockz]

Yep 3 bad costly buys this month. Resold them on liquidation.com to get rid of them

Happens occasionally, all apart of running your own business. I'd rather eat a few costs and learn a few lessons than work a typical 9-5 job

[dallis]

It happens, if you're going to do this get used to it.

Far worse than a single bad buy is when a great selling product dries up and dies.

[phaz0rz]

What are you stuck with?

I could maybe help...

[jmag91]

Let me know what you have as well. I could likely help.

[glacier922]

Thanks, I'll let u know. Got to go out now, so brb.

[TechoeGeek]

Originally Posted by jakobrockz

Yep 3 bad costly buys this month. Resold them on liquidation.com to get rid of them

How's that working out? I tried getting in touch with a few 'liquidating' websites that sell via pallet and they showed no interest in establishing a partnership?

[TechoeGeek]

I think the biggest error in having trouble moving stock is selling out of season, so patience is key but sometimes you just have to take a loss

[empirestate]

Originally Posted by glacier922

As the title says. Making a wrong decision is a big cost.

Don't buy too much. You have to test the market first and increase incrementally.
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[jakobrockz]

Originally Posted by TechoeGeek

How's that working out? I tried getting in touch with a few 'liquidating' websites that sell via pallet and they showed no interest in establishing a partnership?

Visit liquidation.com

Its a process to sign up, but once you are approved you are assigned an account manager. Mine has been very helpful and I have had multiple successful transactions on there.

Only annoying thing is that once an item is sold, the buyer has almost a week to pay, then 3 days to inspect the item, then about another few days to process the payment. So don't expect your $ from the sold item for roughly two weeks.

[kirkland]

What are you defining as a wrong decision?

[glacier922]

The problem is a lot of supplier wants u to buy like 100 pcs at a crack. The total cost of 100 OCD is a big loss, of course u don't lose the whole 100 pcs.

Originally Posted by empirestate

Don't buy too much. You have to test the market first and increase incrementally.
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[MM78]

If a supplier won't sell me a sample order...I just don't buy, I have around $300 worth of stuff that didn't sell but that's like a giant mix of crap, some I have sold at a loss only because I don't want it taking space in my office.

[glacier922]

What's your typical sample size purchase order mm78?

[MM78]

Originally Posted by glacier922

What's your typical sample size purchase order mm78?

Most of the time.....between 5-10 and in some cases 1 and 2. In some cases I've paid triple what the wholesale price but I rather pay a little more and not get stuck with a ton of stuff.

[dealagreeproceed]

whenever that happens i liquidate it on new accounts to build them up... happy customers getting discounted pricing equals lots of good feedback.

[glacier922]

^^^

Interesting, I might have to move on with this product I'm selling at almost at cost price. It's a shame, it's been my staple for almost 4 years.

[MM78]

Originally Posted by glacier922

^^^

Interesting, I might have to move on with this product I'm selling at almost at cost price. It's a shame, it's been my staple for almost 4 years.

Have you tried moving said merchandise at other sites?