My Business checks in with Lauren Chang Sommer, who we profiled in April 2010, to see how her business is growing and changing six years on.
“In the beginning, it was tough…but we just continued our plight of selling it for what it is.”
These are the words of Lauren Chang Sommer, founder of Moi Moi Fine Jewellery which, for its first 12 years, was the exclusive Australian distributor of manufactured gem moissanite.
Now, with a major shift underway in the industry, Lauren and her business partner – sister Alana – are establishing their own manufacturing business to further enhance their reach and take ownership of the entire product chain.
As well as outlining what moissanite is and how it is created, Lauren discusses:
• Establishing a business around an unknown product
• Her approach to running a business while looking after young children
• Controlling the entire product vertical, from manufacture to education to retail
• Gearing up to pounce on a major industry shift
And more!Listen to other instalments of the My Business Podcast:
Episode 17: The nuances of business expansion
Episode 16: Adding scale and value in a services business
Episode 15: Guide to winning clients and retaining staff
Episode 13: 'How I've kept my first customers for 22 years'
Episode 12: Navigating your best routes to market
Episode 11: Expert tips for getting your marketing right
Episode 10: Tips for qualifying new business leads
Episode 9: How I structure a 90-hour working week
Episode 8: How to negotiate better payment terms
Episode 7: The most important part of making a sale