Volume 2,

#115: From $1 To $1,000,000 In 5 Years With Trent Anderson

September 07, 2014

Travis is moving to Argentina next week so he’s taking a week off to get everything in order. In his replacement, I had a conversation with my new buddy Trent Anderson as he was passing through town. He’s been in the gemstone business for 9 years with eight e-commerce stores, and today we talk about how he got started flat broke with just $1 and grew it into well over $1M in his first five years. (CORRECTED: Earlier I had it listed as 8 years, sorry Trent!)

Topics Discussed:

  • Turning an unfortunate accident into an opportunity with hustle
  • Making the first sale after 9 months in business
  • Crafting the pitch to suppliers without inventory, experience, or money
  • Failed attempts at going broad in the diamond and generalist market
  • Sourcing gems when you can’t possibly forecast the production
  • Working 15-18 hour days for five years
  • Why do customers spend up to $10,000 on a necklace?
  • Pricing models for luxury goods, authenticity, and dealing with competition
  • Why you should always be the dumbest person in the room
  • Running fast, having focus, and procrastination

Mentions in the Episode:

Download Options:

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