#173 How to Problem Solve When Trying to Scale Your Jewelry Business
When you want to scale your jewelry business – you start seeing new problems to solve.
It’s true, more money…more problems!
Not exactly more, but different problems for sure.
The biggest your business, the different challenges you’ll face.
So I’m super excited to introduce you to our guest today, Jean Z Poh, founder & CEO at Swoonery.com. This lady is a serious powerhouse in all things business and strategy.
She is a 4th generation jewelry professional, an angel investor, and one of Luxury Daily’s women to watch.
I’m grateful to have her on the show sharing her insight on how to scale a business the right way.
Plus, she’s gonna come back for more soon – so stay tuned, m’dear!Click here to download the show notes
Replicate the Personal Experience Online
They built a recommendation engine that recognizes your style. When you take the quiz, your entire browsing experience is personalized to your results. It only shows you the pieces you’re going to like.
So this brings you a curated shopping experience even when you’re online. There are so many options online, it’s overwhelming. So you need to find a way to personalize it for your customer’s style.
Opinions on Investors
Jean got investors early on because she started an innovative technology platform rather than a traditional retail model. From an investor’s point of view, they’re not interested in investing in diamonds and gold to sit in inventory.
Banks aren’t even giving out loans to buy diamonds, etc. because you can get ripped off so easily. Getting investors probably won’t be appropriate unless you’re doing something unique or building a scalable technology.
Who to Hire to Grow Fastest
Hiring in your company is a necessary part of growth. At a certain point, you have to get help because you won’t be able to do everything on your own.
The best hire is always decided on where the bottleneck lies. If you’re getting big orders you might need to hire someone to help with production. But if it’s not getting back to clients and keeping in touch, you might need an admin employee to help you.
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