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:

• Rainbow Sapphire Jewelers

• Anderson-Beattie

• BKK Gemstones

• Herkimer Diamond Quartz herkimerdiamondquartz .com SOLD!

• Herkimer Diamond Quartz Etsy Shop SOLD!

• Chada Soph SOLD!

• Tsavorite Green Garnet SOLD!

  

Download Options:

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