Do you want to increase profits and bring down costs in your creative business? If so, this video is for you!

In this video, I'm chatting with MY business coach, Gwen Bortner, all about how effective inventory management can help bring down your expenses & boost your profits. In this video, we'll cover how to figure out if you have TOO much inventory and how to calculate your inventory turnover ratio. We'll also talk about some inventory management best practices including Open to Buy for retail shops, the pros & cons of wholesale vs consignment for makers & independent retail shops, and whether it's better to do pre-made or custom order products as a maker or artist.

00:00 - intro
04:26 - how to figure out if you have too much inventory (your inventory turnover ratio)
08:57 - open to buy for retail inventory management
12:50 - wholesale vs consignment
17:48 - pre-made vs custom order products

Gwen Bortner is the founder of the business operations advisory firm, Everyday Effectiveness. Gwen has a background in the craft industry, with years of experience as a professional knitwear designer & knitting teacher. She helps visionaries scale their businesses to seven figures and beyond without the stress and overwhelm of trying to do it all on their own. Her approach comes from the belief that personal and professional success looks different for everyone, and most business owners waste time and energy trying to conform to outside expectations and definitions of success.

Gwen’s website: https://everydayeffectiveness.com/


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💖 ABOUT MALLORY 👩🏻‍🎤

Hi! I'm Mallory Whitfield. I live in New Orleans, Louisiana, and I’m a marketing mentor & small business coach for high-achieving, multi passionate creative weirdos.

I started my first handmade business way back in 2004, and along the way, I taught myself all about digital marketing and how to run a business. I learned marketing the hard way, making a LOT of mistakes along the way. In 2014, I switched to a full-time career in digital marketing. Since then, I've worked with hundreds of artists, creative entrepreneurs, and small businesses, teaching workshops on SEO, e-commerce, blogging, social media & email marketing at events like Craftcation and New Orleans Entrepreneur Week. As Adjunct Professor at Tulane University's School of Professional Advancement, I taught & developed classes on Digital Media Principles & Strategy and Creating Digital Content.

Learn more about me here: https://www.badasscreatives.com/about



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