Friday , 28 August 2015
Did you know that jewelry is a 30 billion dollar industry? That’s right - 30 billion dollars! That’s a lot of people buying jewelry! And there is more than enough business to go around!

How I Built a Million Dollar Business Designing Jewelry

tracy matthews

 

How I built a million dollar business designing jewelry without going bankrupt, moving in with my parents or working at Starbucks for insurance (well one of those did happen)

As I write this, I think back to many years ago when I was just starting out as a jewelry designer when I treated my jewelry business more like a hobby. Well, it was a hobby at that point and it made sense. Everyone loved my work and I could sell it on the side to make a little extra cash.

Then one day, I knew it was time to take the leap. I had a big dream and a passion for jewelry design. The best part? I was really good at it.

The problem was that I went to school for liberal arts, not business and definitely not for jewelry business. I don’t even think that existed (until now). I had a lot of ambition and talent, but not many business skills.

Fast forward a few years and a lot had changed. By the time I had been in business for 10 years, I had reached nearly $1 million in sales, received tons of press, had celebrity fans and my collections were sold around the world. But, I STILL wasn’t profitable. I couldn’t figure out what the problem was until I enlisted the support of advisors and mentors.

After the economy crashed, I decided it was time to make a change. My business was failing so I shut it down. I was time to make some serious shifts in my life and in business.

The first time I started treating my jewelry business like a business was about year “8” of TMD. It seems so ridiculous to me now that I was still treating my business like hobby when I had so many sales. The truth is, if you aren’t making money, you don’t have a business, but it took me almost a decade to really figure that out. The worst part? There were many years when I hardly paid myself!! I could not shake the starving artist myth.

The time had come: it was time to take a hard look at what I was doing. It was so clear to me that I had never really set a strong foundation for my business until it was too late. So what did I do? I invested in myself. I hired the best of the best to teach me everything they knew about effective marketing and solid business practices.

The results were astounding. Within months of launching my second jewelry business, I was highly profitable and 18 months later, I had a exceeded my wildest dreams and had a month of $30,000 in profits.

My business was forever changed because of that STRONG FOUNDATION.

That’s when I knew it was time to spread the love and share what I had learned. I believed in signs and I had so much faith in my path, that I knew that my failure was for a reason. And the reason was to teach jewelry designers how to run a business based on all the mistakes I had made over the years.

Flourish & Thrive Academy was born and the rest is history. Tim and I connected a few months ago and we clicked because of our shared belief in the power of community. The key is that no great business person or leader gets to where they are alone; they all have the support of others. F&TA is here to change the status quo. Instead of tight-lipped competitors, we are developing a community of generous and gracious jewelry designers who are there to support you every step of the way in your business.

 

So what is The Academy?

My business partner, Robin Kramer, and I are passionate about helping designers. We offer FREE advice, an online community and online courses for designers at all stages in their business.

F&TA Volume 1:: Laying the Foundation opens for Enrollment on January 10th.

The course is a 6 week virtual program that teaches Jewelry Designers everything they need to know to lay a strong foundation for their jewelry business.

Every week, new content is released. The course is broken down into 4 weekly learning modules and 2 implementation weeks.  We are offering more value than ever before plus additional Q&A coaching calls. The bonuses and the online community ALONE are worth the price of admission. We even added more this time around!!

Here is an abbreviated breakdown of the course offering:

Flourish & Thrive Academy
Volume I :: Laying The Foundation

Week 1:: DEVELOPING SOLID BRAND PLATFORMS
Week 2:: CREATING COLLECTIONS THAT SELL
Week 3:: IMPLEMENTATION AND GUEST BONUS SPEAKERS
Week 4:: SALES PLANS THAT ACTUALLY WORK
Week 5:: PR + MARKETING FOR LOW-BUDGETS
Week 6:: IMPLEMENTATION AND GUEST BONUS SPEAKERS

Your fearless leaders are:: Tracy Matthews & Robin Kramer

Contributors and Guests include:: Laura Garnett, Melissa Cassera, Andreea Ayers, Sue Ann Gleason, Raquel Lauren Photography, Jessika Hepburn, and Emelie Archer.

We are also lining up some surprise speakers…so stay posted.

GO HERE TO READ MORE ABOUT THE COURSE

Did you know that jewelry is a 30 billion dollar industry?

That’s right – 30 billion dollars! That’s a lot of people buying jewelry! And there is more than enough business to go around!

If you are serious about treating your jewelry business like a business, learn more about Flourish & Thrive Academy Volume I :: Laying The Foundation.

TAKE ACTION NOW::

If you are a jewelry designer, we want to hear from you. In the comments below, answer these three questions:

1. What was your biggest business success in 2012?
2. What do you avoid dealing with in your business?
3. What is holding you back from taking your business to the next level?

TWEET ME::

#Jewelry #Makers have you seen this game changing program via @flourish_thrive? Highly recommended: http://bit.ly/UQf3wF

#Jewelry #Makers you don’t have to work at Starbucks anymore. Find out how via @flourish_thrive http://bit.ly/UQf3wF

Ready to treat your #jewelry #business like a business? @flourish_thrive are ready to teach you http://bit.ly/UQf3wF

Open for enrollment:: @flourish_thrive’s Highly reco’d Laying the Foundation 4 #jewelry #makers http://bit.ly/UQf3wF

p.s. Tracy & Robin are also having a replay of their FREE training::

Increase Your Sales with 5 Proven Tactics to Guarantee Profits in 2013.

GO CHECK IT OUT

 

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5 comments

  1. Hi, what is holding me back? Time! I have all the great ideas…yet I’m a single mom and I have to work full-time to take care of living expenses.

    This year I did sketch out goals and action steps for all 12 months and it is helping. Maybe this is my transition year! :-)

  2. 1. What was your biggest business success in 2012? I have two: being invited to be one of six freelance designers for a major retailer of jewelry components. This has been a monthly source of projects and also a financial boon as I am compensated well for my time and talents. There should be more of this in the industry, recognizing that the talent on a design team is worth something financially. Also, receiving an invitation to sell my custom made, exclusive designs on the 37Days.com website as one of their founding artists. This is not a commercial success – yet – but the potential is huge. And I would love to make custom lines of jewelry for all sorts of online retailers, boutiques and galleries. I am hoping that this is a stepping stone to more opportunities. Time and a sense of direction are things that I am lacking to make this a reality.
    2. What do you avoid dealing with in your business? I am no good at anything regarding paperwork, financial and otherwise. I have a system and it would be easier on me if I would use it, but I find myself overwhelmed and just rolling along without finishing the circle. Part of that is also getting around to setting up my studio space and time schedule in a manner that is smarter and yields more manageable results.
    3. What is holding you back from taking your business to the next level? My day job. I have a job that takes up my time, but my jewelry ‘business’ is full-time as well. I want to develop my line more, take my art in a new direction, get back to exploring the art that I want to produce. To that end I have some goals for myself that include creating limited edition lines that are seasonal and also based on the Art Bead Scene monthly challenges, as well as exploring more of my own original ideas (i.e., hand carved texture plates, handmade bezels, etc) as well as streamlining the processes that I use. Another thing that has been held back the past few years is to write a book of my own. I have been approached over the past few years and I have a concept and ideas but my limited time to devote to this is holding me back. I am declaring here and now that I am ready for 2013 to be skyrocketing! I am going to check out your academy as well. Thank you for giving me something to think about. Enjoy the day. Erin

  3. I believe my biggest business succes in 2012 was having my designs published in one of the jewelry magazines I’m crazy about. It was a bit scary actually putting things out there, but it was great to step out of my comfort zone and not fall completely flat on my face! ;-) I think I’d have to say I avoid the paperwork and financial planning of my business, simply because I feel less than confident of my skills in this area and my time management skills needs major improvement. Since I work from home at a business I own w/my hubby and also ‘work’ my jewelry business (which isn’t profitable, so technically I’m working my hobby!) it’s a challenge at times to stay focused and complete tasks in a timely manner. I’m looking to 2013 with a positive attitude and am ready to embrace changes and ‘set sail’! Thanks for putting some extremely good things infront of me to think on!! Cheers, ~Shel~

  4. 1. What was your biggest business success in 2012? selling over $20,000 at one show
    2. What do you avoid dealing with in your business? nothing really
    3. What is holding you back from taking your business to the next level? time

  5. Hi I know this is a rather old post but I figure whats the harm in posting. I am an artist, I paint, make jewelry, clothes, home decor, etc.. You name it, if I can make it, I will and it will be beautiful. This much I know. But jewelry, uhh jewelry is something I relish. There is something about a peice of wearable art that makes peoples eyes dance when they put it on for the first time. That I have to have this look and know you made that piece. Its worth all the work in in the world. However this has only been a hobby for me and I have never ever sold a piece. They have always been gifts.

    I have always dreamt of my own craft business and was in the beginning stages of plans to start when my husband had a massive stroke. It has left him completely dependent on me and very ill. He was 46 when he had his stroke, Ill be 40 tomorrow. Now I am his caregiver, broke and did I mention I’ve been a housewife/stay home mom for the better part of 18 years with little work experience and basic education. I have so many doubts about this endeavor but I am also left with no choice. This has to work, I have to make this work or my husband will end up in some state run facility and ILl be living in a car with my daughter. The latter is just not an option. I’m not looking to become a millionaire, although that would be amazing, I just want to ensure I can afford to care for my husband and that I am able to create for a living. There are so many things I would do different if I had known this would happen, but I cant do anything about the past. I only can worry about the future. I would love to take this course for sure. I hope there will be one soon and that I can afford it. In the interim I would love to know what you feel is the single most important step while in the planning branding stage? And what you would consider acceptable inventory numbers per piece, before one ever opens their online boutique? Someone advised me to purchase wholesale items, imports from india for example, to mix in with my own handmade items. I dont feel that is necessary expense, but what do I know at this stage lol.

    Anyway, if you read this, thank you in advance.

    AJ Turner

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