A Business Advisory Case Study: All Things Golden

BR: Hey Liv! Tell us what inspired you to get into business…

LC: I’ve always had an entrepreneurial mindset and knew that one day I wanted to have my own business. I was blessed to inherit an equally creative and ‘business’ brain from my parents. I’m also driven, love problem solving and learning on the go.

BR: And how did your business adventure start?

LC: My earliest work experience was for a retail boutique that curated top Australian and American brands. This was during the early and exciting days of eCommerce and social media, and I was involved in many aspects of the business. Then I identified a gap in the market for elevated essentials that surpassed the confines of conventional retail and seasonal trends. While the concept of ‘slow fashion’ was unfamiliar to me at the time, these values were inherently ingrained and I followed this passion naturally…so ATG was born.

At 23, I saved a humble $20,000 (my parents were kind enough to let me move back home to save on the condition that I make the most of the opportunity). I was working on a contract basis for a leading eCommerce brand while starting my business on the side (with full support and generosity of knowledge from those business owners).

After 6 months, All Things Golden was operating at a level that warranted me diving in full time. It was a pretty tough first 24 months, paying myself the bare minimum and still living at home. In 7 years, ATG moved from the front room at my parents house to a 35 sqm room at a coworking space, and now we have 1000 sqm of our own space over 2 commercial properties, and an incredible team of 15!

BR: Love it! What do you love most about running your own business?

LC: The freedom to create my own schedule, to express myself creatively and to prove to myself what I’m capable of, just to name a few. More recently I’ve come to realise the fulfilment that comes with building, mentoring and guiding a young team of talented individuals. I now feel as though this is where a true part of my higher purpose lies.

BR: What are some of the big business challenges you need help with early on?

LC: One of the first big projects was to systemise our inventory and online operations. We were tracking stock manually and could no longer service our growing business this way efficiently. BlueRock helped with the integration of the Cin7 inventory management system . It was a huge project and the BlueRock Digital team supported us from start to finish.

We’ve also needed help along the way with both common and not-so-common business challenges around tax, accounting and business strategy advice . BlueRock was invaluable with that core business support early on.

BR: Tell us about the products and brand that make up ATG

LC: Quality over quantity is at the forefront of our purpose. We spend a great deal of time developing the quality and offering of our products. Two years ago we invested in the process of milling our very own fabric. Luxe Rib™ basics are now 30% of our total revenue and are loved by our community worldwide.

We also have an incredibly loyal community who have followed our growth journey and who continue to return and invest further into their capsule wardrobes with us. We’re incredibly proud of the quality of our products and more importantly, what our brand and team represent.

Recently, we’ve expanded into the US market. This started organically, which we then supported with digital paid ads. Within 24 months, US sales have become 50% of our total revenue with some customers willing to pay $20 shipping for one $59 item – a true testament to the quality and appeal of our products and brand.

BR: Love the growth! As your business matures, have the advisory services you require changed?

LC: Yep. As my business has grown, I’ve started to implement succession planning with the help of the team at BlueRock. It’s all about having an exit strategy and making sure I’m clear on my goals and my next moves, whenever that may be.

Also with our US expansion, we were able to secure the EMDG Grant with the help of BlueRock’s grant consultants. This resulted in a $20k government reimbursement for our marketing and promotional expenses.

More recently, as the business grew so did my personal wealth management and estate planning requirements, which BlueRock can also advise me on.

BR: OK Last one. Did BlueRock help you grow your skills as a business owner?

LC: Yes absolutely. Being the sole director and having started my business at a young age with limited prior experience in the workforce, I’ve had to essentially learn everything as I go. As my business has grown, I lean on BlueRock for expertise in a number of areas that would have otherwise taken me months to research and learn about.

Want to Grow Your Business Like All Things Golden?

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