Tycoon — Shop

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Josh Johnson 24min read 13 Feb 2024

In the past, "location" meant the busiest street corner. Today, it means being where your customers' eyes are.

A true tycoon knows that profit is made at the buy, not just the sell. Inventory management is the heartbeat of your shop.

Once your flagship store is profitable, it’s time to expand.

Ask your customers what they want next. A shop that listens is a shop that grows. 4. Scale with Systems, Not Just Sweat

Foot traffic and neighboring businesses are key.

Usually, 80% of your revenue comes from 20% of your products. Identify these "hero" items early and never let them go out of stock.

Introduce complementary products that your existing customers already need.

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