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 33: Are you a leader, a manager or both?
Episode 32: Customer satisfaction: the only growth that counts
Episode 31: Taking a new idea from concept to consumer
Episode 30: Exclusive: Why not all growth is good growth
Episode 29: Taking the frustration out of people management
Episode 28: 'How I achieved 80% growth in turnover'
Episode 27: Giving your business the perfect fit-out
Episode 26: Cash flow tips and tricks for SMEs
Episode 25: SMBs have their say on economic prospects
Episode 24: Offshore workers: the next bastion of business growth?