It was only 18 months ago that Jasmin Adams posted an image of the moccasins she had made for her son on Instagram asking if anyone else would like a pair.
Today she and her graphic designer husband Ben work full time running their global company fromZion, and managing a team of 2 part time staff and 5 casuals. The business has over 46,000 Instagram followers, a professional ecommerce website and international retail distribution for an expanding range of moccasins and apparel for children and adults.
That’s head spinning growth!
When we granted Jasmin one of MJ Accountant’s 2015 Business Excellence Scholarships, we hoped we could help stop her head from spinning. After five months working with our business coach, Jennifer Holman, Jasmin spoke to me about how she’s handling the growth.
Mel: What’s the secret to growing your business so quickly?
Jasmin: We have been so lucky that our business has grown so rapidly by itself. I’m so excited that people are loving our brand! The problem for us isn’t growth; it’s knowing how to handle the growth. It’s hard to keep up and know we’re doing the right thing.
Mel: What has been your biggest worry?
Jasmin: Cash flow was our biggest concern when we started seeing Jen. We have to pay for stock 6 months in advance, so there’s a lot of money tied up in inventory. Because we are such a new business we couldn’t get banks and lenders to take our sales projections seriously. There just wasn’t enough trust.
Mel: Was your business coach able to help?
Jasmin: Jen had confidence in our projections. So she tied up appointments with banks that MJ Accountants already had a relationship with, and came along to the meetings to vouch for us. We finally reached the outcome that we needed.
Mel: That must give you confidence.
Jasmin: Yes. Having Jen involved has made us feel safer in what we’re doing overall; confident we’re doing it right. Ben and I often have chats about the business and we’ll say, “let’s email Jen.” She’s so easy to talk to and she simplifies things into language I can understand.
Mel: What are some of the complexities you have to deal with?
Jasmin: Because we are a multi-national business we need to deal with all those different tax rates and laws. That was getting way too confusing and overwhelming for us. Jen explained it all to us so we now feel confident that we’re doing it right.
Mel: What about your business structure?
Jasmin: When we first met with Jen she advised us to move from a sole trader to a company right away. Our business had grown too big, too quick. We weren’t even thinking about this. We would have had no idea how or when to do this.
Mel: So would it be fair to say that having a business coach has helped you to manage growth?
Jasmin: It’s been good having Jen. We kind of feel like she’s in fromZion with us. She calms me down when I’m overwhelmed and helps me to focus on the really important things. And she gives me confidence. She reassures us that we really are doing well.
MJ Accountants is here to help our clients grow and thrive. If you need help managing growth, give us a call today.