Meg Strachan, founder of Dorsey, shares her journey of building a seven-figure jewelry brand as a side project, emphasizing the advantages of a lean, profitable business model over traditional venture-backed growth. This episode offers a refreshing perspective on entrepreneurship, highlighting how leveraging existing skills and prioritizing profitability can lead to sustainable success in the e-commerce space.
Meg Strachan launched jewelry brand Dorsey in November 2019 as a side project. Though she knew she eventually wanted to launch her own company, financially, it didn't seem possible. "My path to founder was not a leap, it was gradual. I call it a parallel path," Strachan said on the latest episode of the Glossy Podcast. Strachan had over 15 years of experience as a growth marketer at brands like Anine Bing, Carbon38 and Bandier. But when it came time to fundraise for Dorsey, she faced roadblocks. "I wasn't able to raise money prior to the brand having traction, which was fascinating for me, because I met with a lot of incredible VCs," Strachan said. "I was told, 'You have the exact resume of a founder we would invest into,' but all of them really told me, 'We don't really know the jewelry market.'" In September of 2019, Strachan joined sustainable activewear company Girlfriend Collective as the vp of growth across all channels. "I took on the role on a full-time consulting basis. I was [working] 9-to-5 with Girlfriend ... and I started to moonlight Dorsey at night and on weekends, essentially running the company when I wasn't doing my full-time job," Strachan said. Strachan's growth marketing and e-commerce experience helped Dorsey scale to become a seven-figure business in less than three years. Simultaneously, Girlfriend Collective saw 350% year-over-year growth during her tenure at the company. As Strachan transitioned into running her company full-time, growth and expansion through creative marketing and wholesale have been some of the most exciting areas of focus for her. "How I'm growing the business is certainly very different than most of the companies that I've worked for before," Strachan said.