MEND jewelry founder Jordyn DiOrio, at a Mall of America popup in 2018. MEND jewelry founder and passionate entrepreneur Jordyn DiOrio on surviving startup challenges and setting priorities.
You never forget your first time. In my business ventures, that first time was five years ago.
It feels like yesterday I nervously sat in front of my computer wondering if any one of the 30 people I sent an email to about my new business, MEND Jewelry, would purchase—let alone care. It didn’t matter that those 30 people were friends and family members who submitted their email to my “coming soon” splash page. I’d bare my business soul for the first time at a mere age of 24. I prayed the little savings I’d invested would be enough. Little did I know, this email announcing MEND’s launch would transform my business and life forever.
I wanted MEND to succeed so badly, I didn’t care about the risk. Being an entrepreneur is all a matter of risk appetite. And I am always hungry.
There was a 50 percent chance my business wouldn’t make it this far. Half of businesses will fail by the five year mark and these odds get slimmer for women owned businesses, too. I flipped a coin with MEND and prayed for tails (because, you know, “tails never fails”).
Five years later here I am, with MEND by my side through all of the triumphant and turbulent years. Five years. Half a decade. One idea flourished into a brand that launched 20+ products, partnered with national brands, received six figures in venture capital and more importantly, empowered and connected more than 2,000 customers with MEND’s simple, clean designed jewelry.
Of course, these past five years were not always the highlight reel above. I’d tried and failed A LOT. Ruthless Prioritization
In 2020, after my funding ran out, I decided not to take on additional capital, therefore removing my salary from the company. (Read: Why I Stopped Taking Salary) .
I floundered freelancing a bit and then fell into a full-time communications role at a public technology company for the majority of 2020-2021. After discovering (quickly) that I am a forever entrepreneur, I went back to consulting under JDP Consult . This time with an LLC and confidence in the value I can provide. With my new consulting company, my time became razor thin, and I had to ruthlessly prioritize my time with MEND.
I decided 80 percent of my time would go towards JDP Consult and MEND would get 20 percent per month with the exception of Q4. During the merry-money-making season of the holidays, I’d invest closer to 40 percent of my time on MEND to capitalize on the gifting season.
I mapped out the different channels of the revenue and created a rubric of yeses and nos. Questions to define this criteria were the following: How much effort does this take?
Does it drive revenue?
What is the impact?
Does this benefit my customers?
What does the data tell me?
This process ranked and eliminated different parts of the business that received my attention. MEND only attends events with proven sales or curates partner-specific pop-up events with nationally recognized brands. When it comes to wholesale partnerships, I saw massive trade shows shutter their doors and translate to a crowded online retail space. MEND now has a shortlist of stores with great relationships and customers who carry our products. I have cut my store list in half to focus on quality over quantity. No dollar amount is worth the headache of mismatched partnerships, especially at half the cost.
I’ve put a sharp focus on online efforts; from SEO implementation, video content to email strategy. MEND’s primary source of revenue continues to be online. The efforts are streamlined and the impact can be measured with real time data. My customers started here and will continue to find the best experience and breath of products available online.
MEND is a profitable business because of the decisions made every day to serve its customers. The business will continue to be an asset I value whether it pays off my student debt, gets me a pink Tesla or continues to hire more women. When I lose the drive to design and connect with my customers, I’ll be done. But until then, MEND will adapt and grow every day, month and year. Five Lessons from Five Years
Now, there’s no exact playbook to making it this far, but there’s some important lessons I’ve discovered over the past half-decade. I even reflected on the […]
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