Common Money Mistakes Boutique Owners Make {Part 1}
Feb 07, 2020
I’m going to generalize this so if this doesn’t pertain to you- AWESOME! What I will say is that a majority of the boutique owners that come to me for help are making this mistake in their business.
Money Mistake #1
💥Not saving any money💥
Most (not all) boutique owners don’t save any money. This means there is no wiggle room for slow days or being able to make capital investments (like taking one of my courses!).
The pattern that I see most often is when boutique owners take allllll of their profit from the month prior and put it alllll back in inventory. So what happens when all of that inventory doesn't sell? It just sits on your shelves or racks and eventually becomes out of season. Then you are stuck with a surplus of inventory that you can't sell...
This leads to another common mistake that we will talk about in the next blog post…
Here's to making lots of friends and making lots of money,
Emily