EP336: From Poverty to Thriving Multi 6-Figure Jewelry Brand
Imagine having 5 kids to support, a husband on disability, and you just got laid off from your job!
That would be all the reason to bail on your jewelry business dreams, right?
For many, the answer would be YES, They’d fall into scarcity mode and freak out. For Quay Flom, the answer was, *NO better time than now.*
When we met a few years ago in The Jewelry Brand Makeover Bootcamp, Quay was in a REALLY bad spot – and wanted her business to work out so badly that she absorbed everything she could.
On today’s episode of Thrive by Design, I share the incredible story of Quay’s transformation from struggling hobby biz to thriving multi-6 figure brand.
How It All Started
When we met a few years ago Quay was in a REALLY bad spot – she was only making $5,000-$8,000 per year from her jewelry business at the time.
She loved her jewelry hobby-biz and wanted to start taking it more seriously, so she joined The Jewelry Brand Makeover Bootcamp to learn how to market and sell more of her jewelry.
That’s where she found out about the Laying the Foundation Program where she dove right in.
Then Quay’s life turned upside down almost overnight.
When her three grandchildren ended up in the foster care system, she and her husband took them in and went from a family of 4 to a family of 7.
With Quay’s husband on disability, she became the primary breadwinner for her growing family of 7. The girl could not get a break – she was laid off from her job just a few months later.
Instead of freaking out, she leaned in and started working the Laying the Foundation Program so that she could grow her sales.
The Transformation
She realized some pretty big issues right away. Here are some of the insights that helped her grow.
Dream Client Clarity
By working the Dream Client Clarity exercises inside of Laying the Foundation, Quay was able to understand how her customers think and act. The way she spoke to them at “in-person” shows, the copy on her website, and eventually in her stores, made them feel seen and heard – which helped her make more sales.
Pricing
When Quay watched the pricing module, she broke down and sobbed on the floor. She’d been charging way too little for years and now understood why she was making zero profit. Time to raise her prices!
Business Roadmap
One of her biggest lever movers was our teachings on business planning. She had never previously set goals or created projects per quarter. By working 90-day strategic plans, and breaking her goals down into daily, weekly, and monthly priorities, her sales started growing.
Time Management
One of the core foundations of the program is time management aka time blocking. By scheduling nearly every minute of the day, Quay had time to grow her business, pick up another part time job, and run her busy household of 7 people (and get to bed by 9 pm every night).
The 75% Rule
By getting organized and using the templates and tools inside of the Laying the Foundation Program, Quay was able to prioritize the revenue generating activities that would bring money in right away. This understanding kept her focused on what matters most instead of doing a bunch of things that didn’t help her grow but instead made her overwhelmed and busy all of the time.
Accountability
In the Laying the Foundation community, she found people who would hold her accountable to do what she said she would do. The LTF coaches help with weekly commitments and priorities.
She also developed an accountability group of peers that met weekly to help each other stay on track.They talked about what they did and celebrated wins and accomplishments.
“I cannot tell you how many times (I think almost every week), Flourish & Thrive Academy and LTF is on my gratitude list for all the opportunities that it has offered me and my family,” Quay said.
The Results of Consistency
Quay would be the first to tell you that her success was a marathon and not a sprint. By increasing her prices, developing products that had higher perceived value, and following our planning and implementation structure, Quay slowly but surely saw her sales grow.
When we met, she was only making $5000 to $8000 a year with her expensive hobby.
The first year out of the gate, she grew her sales to $14,000 by selling fewer but more valuable pieces to her Dream Customers.
Over the years as she dialed in her customer avatar and started showing up where they were hanging out, she easily raised her price points from $20 a piece to $150 to more than $1000 for her higher end pieces.
Five years later, she bought into a gallery chain and has a multiple 6-figure business with multiple retail locations in Duluth, MN.
Fast forward five years later, she’s increased her price points, instead of $20 pieces, she now sells pieces that are $100 to $1000 each (or more).
Quay says she is no longer living from paycheck to paycheck, and she can put money in her savings, which she was unable to do before. She doesn’t have to be stressed anymore about her car breaking down, her kids breaking her computer, or getting stuck in a blizzard.
Quay says, it doesn’t seem like five years. It feels like yesterday.
“One thing I learned in LTF was that you’re in this for the long game. It’s a marathon, not a sprint… Just wait till I text you (Tracy) and tell you I broke the million dollar mark.”
She’s an avid believer of investing in tools and programs for growth. For those people who are committed to doing what it takes to reach your goals, here’s more advice from Quay.
“100% INVEST IN YOURSELF AND IN YOUR BUSINESS. WHETHER IT’S $100 OR A MILLION DOLLARS. WHATEVER YOU’RE ABLE TO AFFORD. MAKE IT HAPPEN.”
This was Quay’s response when we asked her if the money investment was worth it for Laying the Foundation and the time investment for the Jewelry Brand Makeover Bootcamp.
Quay said, “You wouldn’t think twice about going to college to get yourself some new skills. The same thing goes for Laying the Foundation (LTF) and participating in the Bootcamp.”
If you’re ready to find out what’s missing in your current strategy and to create sustainable growth for your business, join us for Laying the Foundation.
Listen to the full episode above to hear Quay’s inspiring story and the journey that has led her to become the 6-figure jewelry business owner today.
Xo, Tracy
Links:
Yellowbird Arts in Duluth Minnesota
Jewelry Brand Makeover Bootcamp 2022