A note from Sary

Form of Value #5: Resale Resale is the acquisition of an asset from a wholesale seller followed by the sale of that asset to a retail buyer at a higher price. Resale is how most of the retailers you're familiar with work: they purchase what they sell from other businesses, then resell each purchase for more than it cost. In order to provide value as a reseller, you must: 1. Purchase a product as inexpensively as possible, usually in bulk. 2 Keep the product in good condition until sale--damaged goods can't be sold. 3. Find potential purchasers of the product as soon as possible to keep inventory costs low. 4. Sell the product for as high a markup as possible, preferably a multiple of the purchase price.

Sary The Personal MBA, page 54 · October 5, 2023 Save to shelf
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