Two years down the path toward becoming a successful jewelry designer, I wondered:
"What, exactly, is a PR firm? What could they do for me?"
So... a few days before coming to New York for a sales visit, I requested a consultation with a fashion focused PR firm on Madison Avenue. The owner, Monique, responded promptly to arrange our meeting for the next day.
I arrived ten minutes early, hoping to use their bathroom and take a moment to compose myself after a busy morning of rushing about the city. I found the office on the 11 floor, and entered a single room with white walls, glass desks, plenty of day light, and glamorous displays of dresses, jewelry, handbags and shoes. Two elegant, blond women were eating green salads. Monique was on the phone. Her friendly assistant, Cara, welcomed me in a becoming European accent. She directly me to the bathroom where I tried to smooth my wind-blown hair, cleaned away the traces of dried snot below my nose from the cold air, and re-applied my "figaliscious" lip color.
Back in fashion-world we all introduced ourselves and gathered around a large glass table to talk about my history and business goals. "I learned to make jewelry as an apprentice.... I have twelve boutiques carrying my designs, some on consignment... I built my own website..." We spread my jewelry line out over the table and went over materials and price points. I received a complete explanation of what it means to have PR representation in a charming French accent, and learned about their services step by step:
- We would start by bringing my brand up to a refined level: new website, professional photo shoot, and all of my marketing copy would be done by Cara... the formation of the right image. This could all happen in just a few weeks.
- Next would be media exposure: they use their contacts to generate press releases, interviews, blog write-ups, celebrity placements, and events.
- We would prepare for the best trade shows and New York fashion week.
- I would have access to the contact info for the buyer of every retailer I could hope to pitch.
- My work would be on display in the office where I could take sales meetings with buyers, or Monique would do sales for me at a %15 commission.
- Once the seeds take root, I could expect calls from interested buyers coming to me.
- My brand would gain consumer recognition.
The cost? Well, it's an investment in your future. $4k per month for PR services. An addional $4k for a new website. $3-5k for every photo shoot. Tradeshow booths run $3-5k. Travel expenses. Marketing materials. One spends money in order to make money. Do it "right", and it will pay off later.
Monique and Cara are direct, experienced in their industry, confideent, and kind. They are women I already trust. After chatting and asking questions, we shook hands and said our goodbyes; a formal proposal would be e-mailed that day. Smiling ear to ear, and feeling enthused to take the next big step toward success, I made my way down the elevator and out onto the slushy street. This was going to be so great! I'd need loans, but it would pay off.
Soon, I began to feel the flutter of stress-butterfly in my stomach. $4K/ month is $50/year. Expect 2 years before your investment pays off... Where does the PR rate alone position my break-even point? How much staff do I need in order to have a chance of turning a profit? This is a different business altogether.
I walked from Madison Avenue over to 48th st, near Rockefeller Center, to take a wax ring to my casting company to be poured in 14K gold. In the past, I have only met their cheerful receptionist, but today the older Russian man who does the casting happened to come out and meet me. He asked a question or two about my jewelry business. I told him I am just starting to use casting in my design, very few pieces... He stopped me right there and put a hand on my shoulder, "One piece is OK! Today, one. Someday, many many. You grow slowly, that is the way. People climb too fast, they fall. Slow and steady. That is the way."
The butterflies left my stomach. That evening, I still contemplated the benefits of taking the fast track and entering the high-glamor, high-dollar world of creating a high profile designer name. However, the right choice for me was clear and simple.
I run my own business in order to control the quality of my life each and every day. Debt is stressful. If it takes me 10 year to reach the level of exposure that the PR firm could create in 2 years, that's okay with me. Possibly, I will never reach the level they could take me to. However, the risk is huge because I have so much to loose. Right now my business is profitable. I support myself well with a modest income and no debt. I have a cute and fully equipped studio where I am thrilled to spend my days working with with silver and gemstone, my dog at my feet. The fear is destroying the career I love by spinning it out of my control and limiting options with debt that grows every month.
Do I ever want to run the kind of business that requires management of a team to cover a large overhead? Maybe, but I don't know yet. I do know that the right kind of growth for my lifestyle is just as my Russian caster described... slow and steady.
