Jasmine is a multi-potential, she had a thriving catering business for 20 years, now produces custom jams and marmalades for upscale foodies, and makes jewelry and original artwork.
When we met she was in the process of launching another creative business, and in the meantime she was selling her jewelry from a street stand every Saturday. Finances were tight, she needed $7K/month to support her lifestyle and that included a significant investment in her healthcare costs because of a back injury and prescriptions to manage the chronic pain.
Knowing that creatives often have a habit of creating and not delivering (aka selling), I asked Jasmine if she had any inventory. The answer she gave blew me away. She said she had 10,000 pieces of jewelry on hand and in fact they were taking up too much space at home and she needed an outside storage unit. Actually what she needed was to reduce her inventory by selling her creative genius! She was sitting on top of a gold mine.
It was clear that this was where she needed to focus her efforts and do it in a way that removed the physical challenge of having a street stand. (Her prices and quality weren't street level, more upscale boutique.)
We put together a plan for her to create trunk shows (right up her alley with her years of successful event planning.) And she was tasked to create a "hot list" of potential partners including exclusive salons, spas, image consultants, and in home fashion reps for companies including Worth, Cabi, Etcetera, and Carlisle.
This not only tapped her creative skills and passion, but focused on building a solid model that would bring in more dollars in much less time with less effort because of a targeted better clientele than what she'd attracted on her Saturday Street Shows.
Jasmine was thrilled. She could clearly see how powerful the new model would be and also understood that it was designed around her current physical limitations and income requirements. Instead of another creative business, she was tapping into the wealth of creative output (10,000 pieces of jewelry) she had on hand.
What gold mine are you sitting on that you haven't tapped?
