I am starting a business in which I sell physical products. One way to move forward is to sell products that cost $10,000 in startup inventory cost. I’m feeling scared about doing that in case I fail to sell the product. If I fail, I’m making it mean that it would be much harder to re-invest in different inventory going forward.
I try to resolve this by doing a few things:
– convincing myself that spending $10k will be ok (unsuccessfully, as you can see)
– considering a switch to a product with a lower inventory cost, thinking about what that might be, etc
It seems that I’ll feel better about failing with a product that has much lower inventory cost, say $1000 or even less. I’m a bit less scared of failing with $1000 startup cost because it’s easier for me to try again if it doesn’t work.
I’m at a point where “I might not sell” seems like a “real” circumstance, and same with “I don’t know if I want to spend $10k or switch to something else with a lower startup cost”.
I’m scared of losing the money and making that mean that I should stop pursuing the business.
Should I switch business models where I’m more comfortable with the startup cost?
What’s interesting is that when I think about switching to a business with a lower inventory cost, I still feel scared because I might not sell. Something like this:
C: My business
T: I may not be able to sell my product
A: Spinning about what I should sell, thinking my products won’t provide value, not moving forward with choosing a product
R: No product to sell
So, I still would like to think differently about selling any product in general.
I’d love to hear a different perspective. Thank you!