I was in my favourite spearfishing store, looking for a birthday present for my Dad.
(I used the word “favourite,” but it’s run terribly. It’s just the better of the two around here…)
I asked the guy if they had an abalone knife – a hard plastic tool to peel abalone from the rocks. Because it’s plastic, it doesn’t damage the muscle.
Not surprisingly, they didn’t have any in stock. Hopefully the owner would be back soon and they could order something…
The thing is, in retail, holding stock is a risk.
What if you don’t sell it through, and therefore miss cash-flow you need to pay your bills?
Yeah, that would be bad. But not as bad as not having any stock for the sales.
Part of opening a retail store is the agreement that you take on this risk. That you buy ahead, in order to profit from the sale.
You’re rewarded for that risk. In this case, because there’s an upside for the customer – they get to make a purchase that day, and they really should get some expert advice.
The bigger question though, have you identified the risk in the work that you do?
Whether you’re a freelancer, business owner, or even a contractor, the risk that you take (time, emotional, social, financial) is really what opens up the reward.
It’s tempting to try and offer our services from a quiet corner, but if we’re not willing to stand up, reach out, organise, or find some other form of risk, we can’t expect much of a reward.
