In today's episode of Elevate Your Career, Nicole is joined by Troy Arnsten, co-founder and president of the globally renowned affordable luxury brand Voluspa. Troy shares his journey from humble beginnings to creating a fragrance empire. They discuss his early experiences, from his first job as a teen in a quirky role to his transition from a mechanical engineer to a risk-taking entrepreneur in the fragrance industry. His story is a testament to the power of perseverance and adaptability in the face of uncertainty and the challenges of starting a business in a market not yet saturated with products.

Troy and his partner’s bold move from Minnesota to California marked the birth of Voluspa, started with a mere $3,000. He recounts the initial struggles of establishing the brand, from hand-pouring candles in their garage to their breakthrough moment getting into Saks Fifth Avenue. His journey emphasizes the importance of innovation, quality, and maintaining a distinct niche in a competitive market. Troy's experience highlights the ups and downs of entrepreneurship, illustrating that the path to success is often paved with perseverance and a willingness to take calculated risks.

Troy offers invaluable insights for aspiring entrepreneurs, emphasizing the importance of diversity in income and client base, learned from a challenging phase in the business. He also discusses the evolution of Voluspa, focusing on team-building and creating a collaborative and creative work culture.

Join Nicole and Troy for this fascinating and inspiring conversation!

Enjoy!

What You Will Learn In This Show:

• Troy's journey of overcoming challenges and the crucial role of perseverance in navigating dark days and uncertain times in business.
• How a mechanical engineer with a blue-collar background pivoted into the fragrance industry.
• How Troy and his partner started Voluspa in California with just $3,000.
• How Voluspa carved out a unique space in the competitive fragrance industry by focusing on luxury packaging, quality formulations, and targeting specific market segments.
• The importance of not over-relying on a few clients or income streams.
• Troy's approach to building a collaborative, creative, and agile team, and the importance of cultural fit and collective effort in driving a brand's success.
• The value of learning from failures and unsuccessful product launches as essential steps towards understanding the market and refining products.
• How personal success and brand success can be interlinked and how maintaining control over business decisions can lead to long-term growth and sustainability.
• Why Voluspa chose to manufacture in the U.S., and how they innovated with natural ingredients like coconut oil for a cleaner, sustainable product.
• And so much more...

Resources:

Voluspa