Bespoke Jewellery business based in Kiama, NSW.
Increased revenue by 62% within the first year of coaching.
Continual reinvestment, setting the business up for continual growth and success.
Benefited from having an accountability partner to test ideas and strategies, fostering faster decision-making and growth.
Based in Kiama, Son Del Sol is a bespoke jewellery business known for its quality products and services. Despite strong community support and steady business growth, they faced significant challenges in managing operations and cash flow on a limited budget. In early 2023, Reece partnered with Scott from SK Business Coaching to address these issues and unlock the full potential of the business.
Challenges Prior to Coaching
Operating on a limited budget with significant competition, Son Del Sol needed to grow while establishing a unique brand identity and gaining a strong foothold in the market.
Coaching Objectives
Primary Goals:
o Increase revenue and reinvest in the business to support ongoing growth.
o Develop a clear brand and reputation in the jewellery market.
Expected Outcomes:
o Strengthen operational systems, refine pricing and costs, establish a Market Dominating Position, and set the business on a path for sustainable growth.
Key Actions
Financial Optimisation: Reviewed prices and costs to maximise profitability.
Market Positioning: Defined a strong Market Dominating Position and introduced guarantees in the value proposition.
Studio & Staffing: Relocated to an ideal studio space and established clear staffing requirements and documentation.
Reinvestment Strategy: Reinvested revenue into R&D, marketing, and strategic initiatives to fuel growth.
Supplier & Process Improvements: Optimised supplier and subcontractor relationships to support production quality and efficiency.
Operational Enhancements:
o Implemented Asana for streamlined job management.
o Strengthened internal systems with automation to improve workflows.
Strategic Product Focus: Launched an engagement ring collection to expand market reach and align with brand goals.
Results Achieved
Revenue Growth: Annual revenue increased by 62%.
Reinvestment Impact: Allocated extra funds to broaden marketing channels, upgrade tools, a new studio, and expand the engagement ring collection, setting the business up for continual growth and success.
Lessons Learned
Cashflow Management: Developed stronger cash flow forecasting and management skills.
Customer Insight: Gained a clearer understanding of the ideal customer.
Accountability & Support: Benefited from having a reliable accountability partner to test ideas and strategies, fostering faster decision-making and growth.
Looking Ahead
Future Goals: Continue building brand reputation, expanding product offerings, and optimising cash flow for steady growth.
Coach’s Note: “Reece has shown incredible resilience and commitment to growth on a limited budget. With a strategic approach to reinvestment and brand building, Son Del Sol is positioned for long-term success in a competitive market.”
Client Testimonial
“Fantastic service and great communication! I been working with Scott for about a year now, and the leaps we made in Son Del Sol operations have been incredible. Scott has a knack for breaking down complex business strategies into actionable steps, making it easier to implement changes that I probably wouldn’t have considered on my own.
The best part about working with Scott is having a dedicated partner to bounce ideas off and gain accountability. He has genuinely been invested in the success of Son Del Sol, challenging me to think bigger and to reinvest smartly into the business for long-term growth. The ROI from working with Scott is undeniable – he’s given us the strategies and the confidence to make decisions that are setting us up for continual success!”
– Reece, Owner of Son Del Sol –
Ready to elevate your business and achieve similar results? Contact Scott today at SK Business Coaching to hear how I can help your trades-based business reach its full potential.
