Getting some new tires when the guy at the tire shop asks me if I know the secret to making money in the tire business. I tell him no because A) I really don’t know the secret and B) I get the sense that he’s about to tell me.
He drops the following knowledge: “We live in a culture where there is only one time – now. You cannot tell a customer to come back in a few days because you need to order a tire. That is madness, and I do not believe in madness.”
So what’s the secret?
“Effective inventory management,” he says. “If you don’t have it, you can’t sell it.”