My Princess Pearls Case Study

My Princess Pearls Business Description

Founder Wendy Bird enjoyed making jewelry, and particularly liked pearls. After several months of electronically searching the globe for a pearl source, she came upon Amara Flordeliza in February, 2002. As they began to communicate via email, Wendy learned how Amara had quit her job as manager of an architectural firm to help raise the standard of living for her people in the surrounding villages in the Philippines. Since the early 1990's Amara has trained abused and abandoned Filipino women in the art of pearl jewelry making, rescuing them from severe poverty.

The genuine pearl jewelry is hand crafted by the highly trained women using saltwater and freshwater pearls from all over the world. The lustrous pearls are available in 7 natural colors: white, black, grey, pink, white, peach, peacock and bronze. The original designs are available in styles perfect for every occasion from newborns (infant bracelets) to career wear.
(Information taken from www.myprincesspearls.com)

Business Challenge/ Objective

New to the business world, Wendy needed assistance raising capital for her company.

FundingUniverse Strategy

Wendy participated in various FundingUniverse programs. She attended one of the first Speedpitching events where she received coaching advice and additional consulting.

“In November of 2005, I attended my first Speedpitching Luncheon,” Wendy says. “I was shocked to be selected as one of the 10 entrepreneurs to present to the 70+ investors present. Having not done any formal presentations in the past, I felt unprepared for the correct/proper procedure. Luckily for me, there were mediators at each table to offer help and guidance to those that needed it. Craig Bott was the mediator at my table. I explained to him about my company with honesty and a true passion for my business and its future. I had no idea he was with Grow Utah Ventures, nor did I have any idea what Grow Utah Ventures was! Craig was among 4 individuals who called to arrange for further evaluation and/or funding.”

Wendy eventually invited Brock Blake, FundingUniverse CEO, to join her advisory board. Wendy has continued to use the FundingUniverse programs to help My Princess Pearls find success. 

Results

One investment group in particular saw the value in what Wendy was trying to do. Over the next six months, Wendy and the investors worked together.

“I learned more through this mentorship than I ever thought would be possible,” Wendy explains. “My mind has expanded to understand the complexities of not just owning a business, but being part of a successful business venture that works through trials, successes and failures with equal enthusiasm. As an entrepreneur I have learned the value of others experiences and how those experiences can have a direct impact on growth and progress within my own company. Grow Utah Ventures and Funding Universe really know how to make a difference in the business industry, not just for the business, but for the individual as a whole. I have much gratitude for all I have learned from those willing to take the time to teach.”

My Princess Pearls (Gifts That Lift) Update

In January 2006, Wendy expanded her company offering her customers additional products from survivors of the tsunami in Thailand. A new company, Gifts That Lift was established in March of the same year. Wendy’s willingness to be teachable and learn from business mentors has helped her company to grow allowing her to help women across the globe.

“FundingUniverse has had an amazing impact on my company and its future,” Wendy explains. “Not only have I been able to meet and learn about some of the finest VC’s and Angel investors, I’ve also been privileged to knock around plans and ideas with some of the most qualified and experienced mentors! The investors that network through Funding Universe are top notch individuals who have ‘been there, done that’ and truly want to guide the entrepreneur along in their ‘going there, gonna do that’ stage. Thanks to FundingUniverse, Speedpitching and webinars, I’m finally able to take my business where it needs to go, and I don’t have to do it all by myself!”