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!)
- 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:
- Rainbow Sapphire Jewelers
- BKK Gemstones
- Herkimer Diamond Quartz SOLD!
- Herkimer Diamond Quartz Etsy Shop SOLD!
- Chada Soph SOLD!
- Tsavorite Green Garnet SOLD!
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