44 min

Bouncing Back from Bankruptcy with Tracy Matthews The Style That Binds Us

    • Fashion & Beauty

What interested you in Jewelry: Humanities major in college, and wanted to take fine arts classes. Took a jewelry making class, and realized she was good at it.
 
How to learn to make jewelry: trained as a metalsmith in college. First class was in beaded jewelry. She moved from L.A. to San Francisco, and the only thing she had room to do in her apartment was beading jewelry. Evolved into a full collection called fashion bridge jewelry in sterling silver and semi-precious. Launched a fine jewelry line. 
How to start a jewelry brand: Kept getting compliments, and thought there was something to her brand. Started having jewelry parties where she would sell the jewelry. Started wholesaling to retailers. Got her wholesale & resale license. 
DBA means “doing business as.”
 
How to find factory/manufactures? To scale, will need to outsource. They can be hard to find. Referrals can be a great option. Go to sourcing trade shows. Make friends in the jewelry industry. Makers Row have lists of manufacturers. If in New York (Diamond district) or LA (Hill Street or Culver City). 
 
Flourish & Thrive: People were asking her to mentor them, which she turned into consulting. They teach - How to attract dream clients, how to design jewelry that’ll sell, how to price jewelry, how to sell and market their work. 
 
Like working with designers best or reps? Designers: with the reps - it is a middleman, like a game of telephone. Creatives aren’t necessarily business people. They have to focus on the numbers in order to  have their business. If you don’t have the sales, you won’t have a brand. Build the business with your buyer, come to them with reorder and transfer suggestions. The buyers will know about the trends, and can come to the brands that make sense and see how to incorporate the trend in their aesthetic. If you get a no: ask why. Ask for feedback. Practice gives you confidence. 
 
Flourish & Thrive Academy: is jewelry business platform, thinking of opening up into other verticals. Number one jewelry business academy for marketing and sales in online education space. Started a podcast because she had a YouTube channel where she had vlogs each week. Have to film, prepare topics/subjects. Have to keep it concise. Podcast gave her longer format to talk. People listen while driving, working out, commuting, working, etc. Numbers started skyrocketing with people listening. Have started talking about other topics as well. She helps creative visionaries protect themselves. What putting out into the world means a lot. Need to get a village around them to support themselves. Creative types try to do it all themselves so they stay small. Aren’t able to grow & scale a business because their zone of genius isn’t accounting, filing papers, admin work, etc. If they aren’t good managers or leaders, etc can all hinder businesses from growing. Teach people how to build systems in your business, train employees, and get people bought into the idea and your vision. 
 
Highs and lows of jewelry business, how used experience in career: The highs were the lows. Getting into Metier SF & TwistOnline changed the scope of her business. Got into the Sundance catalog & Anthropologie. ABC Home called and said Halle Berry & Orlando Bloom bought your jewelry. High & low was getting on QVC - low because she didn’t know how to sell on tv. She was good at increasing her revenue. Every year she had growth years until 2008. Year before expanded into trade shows 10-15 instead of 4-5 she was doing. Was trying to expand too quickly. Wasn’t getting money back she was investing. Mindset for trade shows - Walk a show first, do one at a time, don’t expect to get your money back right away. Stores stop paying you because we’re going out of business. The stock market crashed, had just placed an order with a store for $35k, had b

---

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/

What interested you in Jewelry: Humanities major in college, and wanted to take fine arts classes. Took a jewelry making class, and realized she was good at it.
 
How to learn to make jewelry: trained as a metalsmith in college. First class was in beaded jewelry. She moved from L.A. to San Francisco, and the only thing she had room to do in her apartment was beading jewelry. Evolved into a full collection called fashion bridge jewelry in sterling silver and semi-precious. Launched a fine jewelry line. 
How to start a jewelry brand: Kept getting compliments, and thought there was something to her brand. Started having jewelry parties where she would sell the jewelry. Started wholesaling to retailers. Got her wholesale & resale license. 
DBA means “doing business as.”
 
How to find factory/manufactures? To scale, will need to outsource. They can be hard to find. Referrals can be a great option. Go to sourcing trade shows. Make friends in the jewelry industry. Makers Row have lists of manufacturers. If in New York (Diamond district) or LA (Hill Street or Culver City). 
 
Flourish & Thrive: People were asking her to mentor them, which she turned into consulting. They teach - How to attract dream clients, how to design jewelry that’ll sell, how to price jewelry, how to sell and market their work. 
 
Like working with designers best or reps? Designers: with the reps - it is a middleman, like a game of telephone. Creatives aren’t necessarily business people. They have to focus on the numbers in order to  have their business. If you don’t have the sales, you won’t have a brand. Build the business with your buyer, come to them with reorder and transfer suggestions. The buyers will know about the trends, and can come to the brands that make sense and see how to incorporate the trend in their aesthetic. If you get a no: ask why. Ask for feedback. Practice gives you confidence. 
 
Flourish & Thrive Academy: is jewelry business platform, thinking of opening up into other verticals. Number one jewelry business academy for marketing and sales in online education space. Started a podcast because she had a YouTube channel where she had vlogs each week. Have to film, prepare topics/subjects. Have to keep it concise. Podcast gave her longer format to talk. People listen while driving, working out, commuting, working, etc. Numbers started skyrocketing with people listening. Have started talking about other topics as well. She helps creative visionaries protect themselves. What putting out into the world means a lot. Need to get a village around them to support themselves. Creative types try to do it all themselves so they stay small. Aren’t able to grow & scale a business because their zone of genius isn’t accounting, filing papers, admin work, etc. If they aren’t good managers or leaders, etc can all hinder businesses from growing. Teach people how to build systems in your business, train employees, and get people bought into the idea and your vision. 
 
Highs and lows of jewelry business, how used experience in career: The highs were the lows. Getting into Metier SF & TwistOnline changed the scope of her business. Got into the Sundance catalog & Anthropologie. ABC Home called and said Halle Berry & Orlando Bloom bought your jewelry. High & low was getting on QVC - low because she didn’t know how to sell on tv. She was good at increasing her revenue. Every year she had growth years until 2008. Year before expanded into trade shows 10-15 instead of 4-5 she was doing. Was trying to expand too quickly. Wasn’t getting money back she was investing. Mindset for trade shows - Walk a show first, do one at a time, don’t expect to get your money back right away. Stores stop paying you because we’re going out of business. The stock market crashed, had just placed an order with a store for $35k, had b

---

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/

44 min