When I asked her how she could make money selling so cheap, she said that the secret was in the buying. If she got it at a low enough price, she could sell it at a lower price than her competitors and still keep her margins. How did she always get the low price? Her competitors bought on credit and paid full price; she paid cash, bought large quantities, and always got a big discount. She also owned her own building so she didn’t have to pay rent, which kept her costs even lower. And, yes, she really couldn’t read or write, but, boy, she could sure count money.
