
The 8-Figure Business Built on Vinyl Records and Subscriptions
Shopify Masters
00:00
How to Scale Your Business Faster and More Effectively
We got lured into this trap where I think in the third year we kind of imagined that our growth trajectory was going to take a similar shape as it did over the second year. We were buying way too much inventory and then it compounds month over month which is sort of a really tricky thing about a subscription based business. If you're accumulating inventory then you have more cash tied up in inventory than you do anything else. It's basically like you're lighting dollars on fire. There's lots of parts of the business as it relates to operations and just kind of the general cash flows that I wish we would have been more considerate with early on.
Transcript
Play full episode