This article is from a special edition of Entrepreneur Middle East created for the 2024 edition of the Women’s Empowerment (WE) Convention, staged by the WE Council. Check out the full publication here.

“I find the growth phase of EIRINE Jewelry House to be more challenging than its initial startup,” declares Irina Shamilova, founder and Chief Designer of EIRINE Jewelry House, a Russia-based jewelry business. “The reason lies in the continuous demand for innovation and uniqueness in our products. As we aspire to create jewelry that not only adorns but also resonates with high aesthetic values, our focus extends beyond traditional jewelry to encapsulating the essence of world-class art.”

To her credit, Shamilova has turned this challenge into leaps of growth for her business- her relentless focus on innovation and quality has become the differentiation factor of her jewelry line. Indeed, from the very beginnings of the EIRINE Jewelry House in 2010, Shamilova has relied on two key pillars to build her brand. “Firstly, it is a unique concept that resonates with customers is essential,” she explains. “For EIRINE, this included our proprietary fastening technologies and distinctive designer collections. Secondly, understanding and meeting customer needs is paramount. Our approach to jewelry as both art and craft helps us connect with our audience on a deeper level.”

Today, EIRINE Jewelry House operates two state-of-the-art production facilities in Moscow, where its team of experts -which include designers, gemologists, and technologists- uses the in-house developed and patented technological solutions to produce quality art objects. “A skilled team is crucial,” Shamilova says. “Building EIRINE Jewelry House has taught me the importance of a cohesive team aligned with the business vision. Their expertise, combined with my own background as a gemologist and jewelry technologist, allows us to oversee every aspect of creation, ensuring unparalleled quality.”

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Looking back at her entrepreneurial journey with EIRINE Jewelry House Shamilova is grateful for her early decision to swim in these uncharted waters without any external funds. “I’ve learned that relying on one’s own financial resources, while challenging, offers greater control and reduces risks,” she concludes. “It’s crucial to be adaptable, addressing challenges swiftly, without compromising our core business ethos. While external funding can provide more opportunities, it often comes with heightened risks and responsibilities that might not align with our business goals.”

INSIDER INSIGHTS: Irina Shamilova shares tips for aspiring female entrepreneurs

Adopt an entrepreneurial mindset “Success in business isn’t about gender; it’s about mindset. Embrace the role of an entrepreneur who takes responsibility for both themselves and others, and is willing to take risks. Remember, business is more than a job; it’s a lifestyle. Find what you love doing, and be ready to commit your time and energy to it.”

Listen to yourself, and evaluate risks “Trust your instincts, but also be diligent in assessing risks. After thorough planning and risk assessment, move forward confidently. Embrace mistakes as part of the learning process; they are invaluable for growth.”

Seek guidance, and be ready to learn “Reach out to successful professionals in your field for advice. Be open to learning, practicing, and dedicating a significant portion of your time to mastering your business. Continuous learning and adaptation are key to success.”