There is only one way to cover possible loss and that is in getting rid of the goods at a small profit. If you do not, depreciation enters the field to compete with the other troubles, and with handling, dust, mussing, etc., you will have to put up a sign “Selling below cost,” or “Bargain Sale.”
A quick turn is the best turn in business, and to hold on to a price until you get a fixed profit you have determined on, is like refusing a good job because the wages or salary is lower than you have calculated upon getting. The opportunity slips away.
A landlord demands a certain rent for his premises and he will not come down a dollar a month. So his property is untenanted for a long time, and he loses in pocket although eventually he gets his price.
Make quick turns at small profits and repeat often. Nickel car fares are making the car companies multi-millionaires.
The Early Bird Gets the Worm
This is a saying that contains a large load of philosophy.
There is always a worm around for an early bird to pick up for breakfast. Of course it is very foolish for the worm to come out, but that is the way things are in this world.
What you have to do is to play the part of the bird by getting there first. To carry out the idea, remember that you are not the only bird after the foolish worm.
This means hustle on your part, and that is what every business must show—hustle.
In any event do not be the worm.