ABOUT THIS EPISODE
Chelsea Lahmers is the owner of Motorichmond. Entrepreneurship was in her blood, coming from a family of entrepreneurs. After graduating high school at the top of her class, being involved in different businesses and going to University of Virginia, nothing felt complicated or motivating to her so she dropped everything and bought a mail order business for vintage Vespa parts with $800 in the bank. Today she has grown a 15,000 square foot motorcycle dealership through some combination of cleverness and force of will.
During this episode learn about work ethic, going global vs staying local, compression vs expansion and focusing on your market, servicing everybody instead of spreading too thin. Chelsea discusses growing stronger revenue and stronger base by building relationships.
Quotes: “Just because you started it doesn’t mean you can’t stop if it isn’t working” - Chelsea Lahmers
“Don’t be afraid to cut off your arm to save the rest of your body from getting killed” - Chelsea Lahmers
2:36– Chelsea’s Story - How she got into the mail order business starting with only $800
4:24 – Chelsea’s early challenges making the business run
5:45 – 4am nights to make it work as an entrepreneur
6:38 – How Chelsea became a Vespa dealer – starting with one brand
10:48 – Compression vs. expansion- servicing everybody instead of spreading too thin
13:30 – Time to play with the “big boys” – breaking into the male dominated motorcycle business
17:17 – Chelsea’s advice to her younger self
19:00 – Approaching expansion – Taking that leap of faith
20:41 – Getting involved in franchise driven models
22:42 – Chelsea’s craziest entrepreneurship moment
24:17 – Rapid fire questions!
27:53 – Entrepreneurship trivia!
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