Tapping slow-moving inventory can be the key to improving your cash flow.
If your company manufacturers things then you most likely have an inventory of finished goods. That should be obvious to any student of business. What may not be as clear is that no one knows as much about their inventory as a business owner, especially a biz owner who has bootstrapped the business all the way from its founding in a garage.
Any cursory review should reveal which items aren’t selling as well as expected, at least at current prices. There will be some things which have a sorely disappointing sales performance. Never mind! That’s to be expected. Some things don’t work out. But there is good news. That slow-selling inventory could be a source of cash when you don’t want to borrow from a bank. Holding a fire-sale of slow-selling inventory could bring in cash. Plus it could cut the amount of space needed for storage and the expense of warehousing. It could be a double win.