Business gurus often talk about the 80:20 rule, they find all sorts of ways to apply it. In newsagencies, we could apply it by saying that 80% of our product revenue comes from 20% of our products.
It is easy for newsagents to get this stat for their business. That’s my tip today, find out what your inventory gap is, the gap between the uber performing inventory items and the gap down to the rest, the products that don’t perform adequately for your business.