Tag: Tea time

Counting Inventory, Save Time and Money

Recently on Sheri’s Dream Catcher’s My Business Journey Journal our topic of discussion was counting inventory, save time and money . In other words, knowing what to stock and how much to take in at a desired time will help your business in the long run. Stemming off of our previous My Business Journey Journal Topics, we decided to focus on our goods and services that we want to sell for a profit while giving value to our customers.

Needing a product to count

First, in order to have an inventory, we need to have a product. In this case, a product is defined as an article or substance that is manufactured or refined for sale. It can also be defined as a substance produced during a natural, chemical, or manufacturing process. Additionally, commercially manufactured articles, such as recordings, viewed collectively. Not only can a product be a thing or person that is the result of an action or process but it also can be a person whose character and identity have been formed by a particular period. In short, from last weeks vlog “Merchandise Me” we briefly glazed over the importance of creating a merchandise strategy.

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    Envision Dream Beach Towels
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Marketing a product for inventory

For the most part, we want to save time and money with our inventory. For this reason, we want to make sure the product we are marketing will be made available for the consumer to purchase. Furthermore, a product in general can be a service or an item that meets the need and desire of the buyer. Clearly, every product is manufactured at a cost and is sold at a price. Basically, the price of your product charged to the customer will depend on the market, the quality, the marketing and the segment that is targeted.

What is Inventory?

First, inventory is defined by the dictionary as a complete list of items such as property, goods in stock, or the contents of the building. Similar terms are listing, catalog, directory, record, register, roster, statement. Second, it is described as a quantity of goods held in stock. Specifically, in accounting the entire stock of a business, including materials, components, work in progress, and finished products is classified as a current asset on the business’ balance sheet. Furthermore, it serves as a buffer between manufacturing and order fulfillment. Overall, inventory is considered tangible items, products, or goods that you intend to sell to customers. As a result of selling your inventory, your business makes a profit and your customer gains value for their purchase.

Why is inventory needed?

In particular, inventory is how a business can save time and money. For instance, having inventory management skills will give you the tools to problem solve what you need to stock up on and when. As a whole, the backbone of your business is knowing what you have in stock, how you will market it for resale and when it is a good time for the product to excel. To clarify, we have 5 basic reasons for keeping inventory. They are time, seasonal demand, uncertainty, economies of scale and appreciation of value.

Inventory to start an online store

Do you need inventory to start an online store and how much? The answer is no, you do not need inventory to start a virtual storefront. However, you do need a product or service to sell. Furthermore, inventory costs can range from $0-$1000 to start. With this in mind, the amount you invest here will vary greatly depending on whether you are drop shipping and how much inventory you want to start with. It should be noted that having good inventory management skills will benefit your online business too!

TO LEARN MORE ABOUT Counting Inventory, Save time and money-WATCH OUR FULL MY BUSINESS JOURNEY JOURNAL VIDEO DISCUSSION BELOW- Inventory

https://www.youtube.com/watch?v=HJuyfMIyv8I

Focusing on the unmet need (not the judgement) is more likely to get the need met

Marshall Rosenberg

If you enjoyed reading Counting Inventory, Save Time and Money subscribe to our e-mail list at Sheri’s Dream Catcher to stay updated with new blog posts

Opinion Disclaimer-This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company or individual

Merchandise Me with the Right Display

Recently on Sheri’s Dream Catcher’s My Business Journey Journal our topic of discussion was about merchandise me with the right display . In other words, merchandise me. Stemming off of our previous My Business Journey Journal Topics, we decided to focus on our goods and services that we want to sell for a profit while giving value to our customers.

What is merchandising?

Basically, merchandise is defined as goods that are bought and sold. This includes personal or commercial products, and commodities that are sold to members of the public and other businesses. Second, merchandise can be offered in two types. For instance, they can be sold in retail and/or wholesale. To clarify, retail is when a company sells their products directly to the customer. Whereas, wholesale is when a company purchases products in bulk directly from the manufacturer and then turns around and sells it to the retailer or other wholesale companies.

Focused Eagle Display
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Goals of Merchandising

There are two goals for merchandising. The first goal is an activity of support for your retail strategy that will generate revenue for the retailer and give value for the customer. With this in mind, your goods and services that you wish to sell for a profit are more beneficial if they also provide value for your customer. The second goal is deciding on what products to stock up on. In fact, this goal is a key to one of your retail strategies.

Merchandise is an Asset

Merchandise is an asset because it is usually expected to be liquidated within a year. Specifically, it is expected to be sold and turned into cash. It should be noted that merchandise is also considered a current asset within accounting. so when an item is purchased, the merchandise should be debited to the inventory account and credited to the cash or accounts payable account.

More of a Science than an Art

E-commerce merchandising are items bought and sold online. Typically, you will see these items displayed on your virtual storefront. In fact, e-commerce merchandising is the art and science of displaying products and/or offers on a website with the goal of increasing sales. Furthermore, having a good understanding of how other top revenue generating storefronts display and promote their merchandise online could help both small and mid-sized businesses improve sales. For the most part, the primary importance of merchandising is to clearly display products so that they are easy to find.

Most important aspects of merchandising

First and foremost, the term merchandising is to ensure products are displayed correctly and for maximum impact. Not only is the word “Merch” a slang term, but it also means “to put it on something”. Such as being able to provide factual evidence that something is what you are claiming it to be. Which leads me to the 5 R’s of merchandising.

  1. Providing the Right Merchandise
  2. At the Right Place
  3. At the Right Time
  4. In the Right Quantities
  5. At the Right Price

Visual Merchandising for impact

A marketing practice that uses floor plans, color, lighting, displays, technology, and other elements to attract the customers attention is visual merchandising. To generate more sales you will want to evaluate the 4 key elements of visual merchandising. For instance, store exterior, store layout, store interior and interior display. In addition to the key elements, you will need 4 basic displays for a strong visual impact. Furthermore, displays can be with one item, similar products, related products and a cross mix of items.

Effective Merchandising

To get the most out of your retail space you will want to create hot spots. Specifically, your fixtures and displays will help guide the shopper to browse and buy impulsively. Again, your ultimate goal is to generate more sales. A great hot spot will showcase new and seasonal products, advertised merchandise and establish your image.

TO LEARN MORE ABOUT AN Merchandise me with the right display, WATCH OUR FULL MY BUSINESS JOURNEY JOURNAL VIDEO DISCUSSION BELOW- Merchandise Me STOREFRONT

https://www.youtube.com/watch?v=rFVULYD8paY

It’s not our art, but our heart on display

Gary Holland

If you enjoyed reading Merchandise Me with the Right Display subscribe to our e-mail list at Sheri’s Dream Catcher to stay updated with new blog posts

Opinion Disclaimer-This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company or individual

Not Your Cup of Tea

Not your cup of tea
Definitely not your cup of tea

Am I being negative when I say I’m “not your cup of tea”? I thought this was an expression of how one feels toward something or someone. For instance, if I am “not your cup of tea”, what am I really saying? Do you think I am being mean or negative toward you? Furthermore, I am using it as an expression to let you know that I know who I am and who I am not.

Just a spoonful of Sugar to add to your cup of tea

Not your cup of tea
No Filter, broken nail, broken sunglasses. An Essential Worker during Covid Shutdown. Envision Dream Sip and Think Blue Mug

A little sweetness to add to your cup of tea. I do not use fake sugars. For example, splenda or sweet-n-low packets. If I use sugar, I like to use the kind of sugar that ants would eat. Why is that? Well ants were put on this planet for a reason and a purpose just like you and me. Have you ever done a scientific experiment where you have one packet of artificial sugar on the counter in one end and real sugar on the other end? Let’s assume you have, and the results show that the ants will at least investigate the artificial sugar but ultimately gravitate toward the real sugar cane. This is just my observation and opinion I am writing about regarding some sweetness.

A little splash of milk in that cup of tea

Not your cup of tea
Snapchat Filter, same day, same cup, same person. Different mind set.. Envision Dream Sip and Think Blue Mug

“Splish Splash” let me pour a little milk into your cup of tea. Yes, adding a splash of milk to your tea is a personal preference. I also may add that adding a spoonful of sugar, artificial or not to your cup of tea is also a personal preference. But, don’t let me stop you from adding a splash here and there. Perhaps you enjoy your tea on the darker side. Additionally, you could like it on the lighter side too. Ultimately, it really is your decision on how you take your tea.

Sip & Think about it

Envision Dream Sip and Think Mug

Envision Dream Sip and Think Mug

You read that right! I recommend you sip & think about that one for a minute or two. Perhaps you should sip & think for a minimum of five minutes to a half hour. I wonder what you will think about? Will you sip that tea on the darker side or on the lighter side with some milk and sugar?

You can purchase your very own Envision Dream Sip and Think Mug at www.envision-dream.com

If I come across a little too abrasive, that would be your perception. I am sharing my thoughts and sipping from my Envision Dream Sip and Think Black Mug. Black the symbolism of mystery and elegance. I would rather get my thoughts out there than let them sit and wallow. Sometimes you need to let the negativity go. Above all, try to stay positive. This too shall pass!! Again, this is for those who feel I am “not your cup of tea”.

If you enjoyed reading Not Your Cup of Tea subscribe to our e-mail list at Sheri’s Dream Catcher to stay updated with new blog posts

Opinion Disclaimer-This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company or individual