Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Marty Hurwitz, CEO, and founder of THE MVEye, located in Austin, TX, USA.
What's your business, and who are your customers?
THE MVEye provides market research and strategic consulting for the global gem, jewelry, and watch industries. It's a very focused, unique niche business that my wife and I co-founded 30 years ago. The $135 billion global jewelry business is quite large in size but quite small in the number of players that touch the supply, product development, and retail pipelines. THE MVEye maintains strong relationships with key players in every industry sector, including mining, growing, designing, manufacturing, retailing, and financing. Our CRM database is our most powerful asset. We leverage our consumer market research and trade intel to supply real-time insights to our clients. Nothing sells in jewelry until it is sold at retail, and demography shows us the new consumer path, defined by three massive spending segments: multicultural consumers, self-purchasing females, and next-generation bridal consumers. The jewelry industry must embrace the new consumer and employ them, create for them, market to them, and provide innovative experiences. He or she who wins the new jewelry consumer wins the race.
Tell us about yourself
I was a small, 3rd generation retail jeweler in New York. My wife was a sales manager for a jewelry designer in California, and she was selling to our store. We met at a trade show and fell in love. We conceived the idea for our business and bootstrapped it into a successful enterprise. A small business is a tremendous opportunity and a daily challenge. Overcoming the challenges and exploiting the opportunities is what motivates me every day. Usually, it's hard to see those opportunities. They're hidden and underground. But it's much easier to find an underground river flowing than it is to re-direct a river entirely. We like to think of ourselves as identifying and jumping into rivers of opportunity and sharing them with our clients on a daily basis.
What's your biggest accomplishment as a business owner?
We've hit a few home runs in our business life. Still, without question, our biggest accomplishment has been creating an enterprise that gave us the freedom to raise a family on our terms and granted us the chance to spend so much time together with each other and with our kids. Money comes and goes, business comes and go but family is forever.
What's one of the hardest things that come with being a business owner?
Balance is everything. Keeping every action and reaction in perspective is what allows us to keep moving forward. It's been so hard to learn this lesson, but time is the teacher. You have to trust yourself and accept who you are. With balance, you can get thru anything. You will likely always get somewhere that is right for you and your business. Spoiler alert...it will invariably not look like what you thought it would when you started out.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Be flexible.
- Stay in the moment.
- Never fear mistakes.
Is there anything else you'd like to share?
I practice radical listening. I don't listen to respond; I listen to learn. It took me a while to come to this, but I have learned so much since I've been doing it, and my clients really respect me for it.
Where can people find you and your business?
If you like what you've read here and have your own story as a solopreneur that you'd like to share, then email email@example.com; we'd love to feature your journey on these pages.
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