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LeslieBarber
Level 6

"The biggest lesson I learned was not to undervalue my product." Meet Jeweler Joey Modica

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When Joey Modica first started making bespoke jewelry pieces in her downtime, she only thought she was pursuing a fun hobby. Soon, however, she developed a loyal following in her local area — and realized that her creative pastime had the potential to be a full-fledged business.

 

Taking her products to craft fairs allowed Joey to reach out to clients outside of her community and learn more about her target market. And now that she’s mastered the challenging art of finding the right price point, she’s eager to connect with other folks here who can give her the tips she needs to learn and grow even more.

 

We spoke to Joey about why she likes working from home, the journey to finding her niche and how she defines success in her small business.

 

Name: Joey Modica

 

Business: Thursday-Born Natural Jewelry

 

Started: Fall 2013 

 

What inspired you to create your business? 

 

I worked as a bench jeweler for a year, but didn’t feel like I was learning anything new. I was just making the same things over and over again! I needed a creative outlet, so I decided to set up a small studio in my apartment and start producing my own pieces. 

 

I ended up speaking to the owner of a local boutique who offered to sell some of my work in her shop — and that’s how it all began. 

 

Those early sales gave me enough money to buy the precious stones and fine metals I needed to make my products. I didn’t intentionally set out to launch a business, but it grew from that desire to create and sustain my craft. 

 

Who was your very first customer? 

 

I don’t actually know! It was probably someone who bought a piece from that local boutique. Every so often I do see people wearing my work and, realize they must have been to that shop and bought it. It’s strange knowing that I made a piece that I see out in the wild, but it's a great feeling! 

 

When did you know your business was going to work? 

 

I knew I was on to something when I took part in my first craft fair. I set up a stand at an event in my local area and, over the course of a day, sold a huge number of pieces! 

 

It was at that moment I realized that people were interested in what I was making. I also realized that, if I put myself out there, I had a good chance of continuing to sell my work over time. 

 

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What has been the biggest surprise so far after starting your own business?

 

I’ve learned that it’s important to measure success based on my own criteria, rather than other people’s expectations. At first, I thought taking part in bigger trade shows would be the key to doing well, but I learned quickly that it didn’t really suit me. I had a real moment of realization and brought things back to a place I felt more comfortable with.

 

How do you price your items? 

 

For jewelers, pricing is especially difficult because our materials are so costly. I did a lot of research into the typical markup for similar pieces and how much they cost in stores. The biggest lesson I learned was not to undervalue my product — something that’s easy to do when starting out. 

 

Attending fairs has also been helpful. If people run away when I give them the price, I’ve either got the wrong market or the wrong price point. Finding that balance is a challenge, but it’s really important to get it right. 

 

As a small business owner I’m also open to bartering in certain contexts. For example, if someone really loves a product but can’t afford it, I will consider going down in price. 

 

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What does a typical day look like for you? 

 

I work from home and find it’s really important to have rituals — I don’t want to end up in pajamas all day!

 

Typically, I start with breakfast and do some exercise. Then I spend around three hours making jewelry. If the project is particularly tedious I'll take a break, but often I just power through. Because jewelry making is such a solitary act, I try to listen to music or podcasts and always meet up with a friend for lunch or go to a local café. 

 

In the afternoons, I dedicate some time to photographing my work and updating my website — something I really have to force myself to do! After that, I continue to make jewelry until I’m tired. I’ve been doing a lot of custom engagement rings recently, which take several hours at a time. 

 

In the evenings I work on other creative projects like knitting, painting and sewing. I love being productive and making things for my home! 

 

If you could go back in time, is there anything you would have done differently when you were starting your business?

 

I don’t know that I would do anything differently. Building my business has been a very organic process, and learning from my mistakes is really important for me. 

 

I do think it might have been interesting to go in on this with someone else so that it wasn’t such a solitary endeavor. Other than that, I wouldn’t change a thing!

 

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What would you like to learn today from a community of other small business owners and self-employed professionals? 

 

It’s really helpful to share resources with other makers and sellers — whether it be a good designer or someone who can help set up a web platform for selling my pieces. I’ve learned a lot through conversations with other small business owners at craft fairs. 

 

Being plugged into a network like this one is amazing. I can sit and Google questions all day, but talking to someone who has gone through those experiences themselves is super helpful!

 

Do *you* have a small business story to share?


If you have tips for Joey — or you want to share your own story of starting up a new business — add tell us more in the comments below!

 

We can't wait to start learning from your experiences. :-)

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