Tracy Matthews comes from a long line of entrepreneurs and feels like entrepreneurship has always been in her blood. In fact, the idea of working for someone else kinda makes her cringe. But creating something? She can’t get enough!
In 2006, Tracy created a top jewelry line, Tracy Matthews Designs, that became a beloved line among celebs, was featured in several media outlets and that generated nearly 1 million in revenue. Her business was shining brightly — until a drastic change in the 2008 economy nearly shattered everything.
On this episode, Tracy talks about how she built her internationally successful jewelry line, mistakes she made along the way, what she learned about her business and herself during the tough times, what she wishes she knew and why she’s passionate about supporting other jewelry designers with her academy.
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On this episode you’ll learn:
- How Tracy built an international jewelry design company (and why she walked away).
- The importance of structuring your day properly.
- How to focus on revenue generating activities.
- The importance of building on your momentum.
- Why you can’t you jump directly from A and Z and succeed.
- What Tracy learned about growing fast without being ready.
- Why having a consultant — and a support system — can save your business and get you through the tough times.
- Questions to ask yourself when it’s time to move on and when your business no longer serves you.
- Getting over the ego’s definition of success.
- Learning to think strategically and install systems.
- The value of getting buy-in BEFORE you create a new product.
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RESOURCES MENTIONED IN THIS EPISODE:
The E-Myth Revisited: Why Most Small Businesses Fail and What to Do About It by Michael E. Gerber (HarperCollins, 1995)
Rocket Fuel: The One Essential Combination that Will Get You More of What You Want from Your Business by Gino Wickman and Mark C. Winters (BenBella Books, 2015)
Flourish & Thrive Academy checklist
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[Music: “Someone Else’s Memories” by Revolution Void]