Avoid My $250,000 Mistake in 1 Simple Step I ALMOST WENT BANKRUPT WITH THIS INVENTORY MISTAKE

In todays training I'm sharing something personal with you that almost cost me everything.

I made two simple yet costly mistakes that almost made me bankrupt my company. Let me tell you about it...

A few years ago I didn't stay on top of my inventory and I let my best selling product go out of stock which left me without my best seller for over a month and a half...

This directly cost me $250K in lost sales AND it caused our keyword rankings to plumet, which we never recovered from...

That's not to mention all the time and money we had to spend just to try and regain our keyword rankings...

But then I made my second mistake...

With Amazon Prime Day fast approaching I let my ego take control and I decided to try and hit $1,000,000 on Prime Day alone.

So I ordered A LOT of inventory in preparation and unfortunately it got stuck in customs...

So I ordered even more and had it flown over, but I was to late. Amazon had suspended our lightning deals and I was left sitting on $1.5M in unsold inventory with only $1,000 in the bank, and bills were due...

With the help of an SBA loan I was able to save myself from bankrupting my company but I learned a valuable lesson in the process.

Stop using spreadsheets to track inventory and move to an inventory management software. (I recommend ​Profitable Pineapple Express​ our inventory management software).

00:00 Overview
00:32 Mistake #1
01:06 Mistake #2