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Resources


“Resources,” Starting and Growing My Business (2014)

“Resources,” Starting and Growing My Business

Resources

Made the Sale, Missed the Sale!

Choose roles and act out the following.

MARIA: Hi, Silvia. How are you today?

SILVIA: Good, thank you. Who’s your helper today?

MARIA: This is my niece, Sophia.

SILVIA: What a good girl! Well, my brother found some work. He is still at my home, but he will help pay for food now.

MARIA: When did he start work?

SILVIA: Just today!

MARIA: What a relief for him—and you! So, what brings you here today?

SILVIA: I’d like some more eggs. Everyone loved them and they saved us a lot. I’d like eight more eggs and two jars of milk.

MARIA: Ok. Thanks for buying from me today, Silvia. Have a great day!

SOPHIA: She was carrying so many things. Why didn’t you ask her to let me carry the eggs and milk for her?

MARIA: Oh, Sophia. You’re right. I should have thought of that. I had a chance to upsell a delivery service to her. I could have made 10 more on that sale.

Back to page 168

The Upsell

Choose roles and act out the following.

SILVIA: I’m back again for eggs! And, I need 10 eggs today because I won’t be able to come back for a few days.

MARIA: Great. I’ve been thinking about you. We have about the same number of mouths to feed and we eat at least 12 eggs. They’re just so good for you.

SILVIA: The problem is how to get them home. I actually broke two last time.

MARIA: I was worried about that. I can send Sophia home with you to carry the eggs for you. We only charge 10 for delivery. It costs a little more, but it will save you the trouble of carrying them. Plus, if any break while Sophia is delivering them, we will replace them for free.

SILVIA: Well, you know, that would help. Okay, let’s do that. Thank you.

MARIA: Sounds good. Sophia, thank you for helping Silvia. Hurry right back!

Back to page 168

Turn Inventory Quickly

Choose roles and act out the following.

MARIA: Hi, Naomi. What can I get for you today?

NAOMI: I need some milk.

MARIA: Great. We have a lot.

NAOMI: Maria, this milk smells bad. How old is this?

MARIA: Oh no! I’m sorry. I’m not sure. I bought a lot so I wouldn’t run out.

NAOMI: It’s important to have enough for customers, but you also need to turn inventory quickly.

MARIA: Turn inventory? What does that mean?

NAOMI: Turning inventory is selling everything you bought from your supplier.

MARIA: I try to turn my inventory. But sometimes it takes too long and I have to throw away the milk that has gone bad.

NAOMI: So, that’s why you need to turn inventory quickly. Throwing away milk because you didn’t sell it quickly is wasting your money. But that isn’t the only reason you need to turn inventory quickly.

MARIA: Really?

NAOMI: Maria, where does the money come from to pay your milk supplier?

MARIA: I save money from each milk sale. When I have enough, I buy more milk.

NAOMI: Maria, the longer it takes you to turn inventory, the longer you have to wait to buy more milk.

Remember, you only make money on a sale. So, the quicker you move your inventory, the more money you make.

What would it be like if you could sell all of your milk in three days? Or two days? Or even the same day?

MARIA: None of the milk would go bad, and I would be able to buy more from my supplier sooner. And I will have more milk to sell to my customers and I’ll make more money. I’m going to start turning my inventory more quickly!

Back to page 172

Notes