CEO and co-founder of on­line jew­ellery com­pany Me­juri

NOW Magazine - Class Action - - EVERYBODY’S BUSINESS -

Our on­line fine jew­ellery com­pany is one of the first in the world to use crowd­sourc­ing. We al­low de­sign­ers from all over the world to sub­mit their de­signs on our plat­form for free. Peo­ple start com­ment­ing and vot­ing on the de­sign and, based on that, we se­lect the win­ners, man­u­fac­ture and sell their prod­ucts.

Be­cause it’s a start-up, my role in­volves run­ning day-to-day op­er­a­tions, from hir­ing and in­ter­view­ing to strate­gic di­rec­tion, ac­count­ing and fi­nance. We are three co-founders, so strate­gic roles are di­vided be­tween us, but we are al­ways think­ing to­gether.

I did my un­der­grad in industrial en­gi­neer­ing at the Uni­ver­sity of Jor­dan. Then I moved to Canada to do my MBA at Ry­er­son. I was work­ing in en­gi­neer­ing while do­ing my MBA, but I wanted busi­ness skills and thought that MBA and en­gi­neer­ing would be a per­fect match. I’ve al­ways wanted to start a com­pany, but I didn’t know it was go­ing to hap­pen so fast af­ter grad­u­a­tion. My busi­ness plan was my grad­u­a­tion project, and pre­sent­ing it helped cre­ate op­por­tu­ni­ties for me.

My fam­ily has been work­ing in the jew­ellery in­dus­try since 1953, so I’ve al­ways been sur­rounded by the busi­ness. When I came here, I wrote a busi­ness plan for Me­juri that added in­no­va­tion to the in­dus­try by crowd­sourc­ing. Be­cause I have a pool of man­u­fac­tur­ers to tap into, we thought, “Let’s re­vamp it from a de­sign per­spec­tive – since that is not our ex­per­tise – and crowd­source that por­tion of the busi­ness.”

Many hugely in­flu­en­tial peo­ple did not even fin­ish uni­ver­sity, but for me school was very im­por­tant. In a startup, you need to do ev­ery­thing and you need a good amount of high-level knowl­edge about fi­nance and ac­count­ing. When you read a legal doc­u­ment, you need to un­der­stand it, for ex­am­ple. Mar­ket­ing is also very im­por­tant. All of th­ese skills helped me feel more con­fi­dent.

All my high-level tech­ni­cal knowl­edge I learned on the job. I need to talk to de­vel­op­ers and un­der­stand the projects in or­der to run them. An­other as­pect is the e-com­merce space. How can you en­tice cus­tomers? What are con­ver­sion rates? How can you advertise and mon­i­tor the ef­fec­tive­ness of ad­ver­tis­ing on­line? The dig­i­tal part wasn’t preva­lent in the MBA, but the mar­ket­ing prin­ci­ples were there. So how do I un­der­stand how to make it work in the dig­i­tal world?

En­gi­neer­ing is amaz­ing for the way you think. You an­a­lyze ev­ery­thing – if there is a prob­lem, you find the cause and the so­lu­tion, which helps struc­ture your thought process. In industrial en­gi­neer­ing, things that have to do with sup­ply chains are also im­por­tant for our busi­ness and how we stream­line our man­u­fac­tur­ing pro­cesses.

I per­son­ally like mak­ing de­ci­sions based on num­bers, and over time, when we have a huge amount of data, that way of think­ing helps us out.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.