MEET THE BUSINESS
April 2020
Mr. Nader Elawar – Founder, CEO
Mr. Nader Elawar is the founder and CEO of Chrysella, a luxury jewelry brand outside of Washington, DC.
Nader’s vision to find the intersection between gemology, jewelry, and technology became Chrysella.
Below are a few questions to help facilitate this interactive connection. At the end of the page you will have an opportunity to post your own questions for Mr. Elawar.
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Tell us about your business
Chrysella is a luxury jewelry brand located outside of Washington, DC. We specialize in customized handcrafted engagement rings and high grade Diamonds. Our brand is inspired by a butterfly; a creature which undergoes a captivating transformation process from a caterpillar to a beautiful whimsical butterfly. This transformation process parallels the journey that our custom designs and hand selected diamonds undergo before becoming yours.
Our products are created using Computer Aided Design and Computer Aided Manufacturing which we refer to as CADCAM. Prior to receiving their product, our clients enjoy the unique experience of receiving a high quality 3D render followed by a 3D printed wax model to help envision their finished piece. We collaborate with our customers the entire time and guide them from an abstract idea to a fully developed and completely unique jewelry product.
How did you become an entrepreneur?
My first real attempt at being an entrepreneur was when I was a teenager. I was 17 or 18 years old at the time, and I was captivated by the new wave of electronic/ dance music that was taking us by storm. At the time, I was working at the electronics retailer Best Buy and attending college. Given the nature of my job, I had access to DJ’ing equipment, speakers, etc. I thought if I could save enough money from working at Best Buy to purchase all the equipment, I would turn my passion for music into a business. Although it was not the most lucrative business, I ended up DJ’ing at various night spots throughout college, covered most of my costs and had an absolute blast doing it. I consider it my stepping stone to entrepreneurship. Following that, I fell in love with the idea of owning and operating my own business.
Please discuss a moment or turning point in your life that led you to start this business?
Following graduating from the University of Virginia (UVA), I was set on attending law school. While studying for the Law School Admissions Test (LSAT), I was helping my father at his one man jewelry shop and caught myself really enjoying the business. I was cognizant of the fact that the year was 2012, the economy was still in shambles, and I was considering entering the feeble world of luxury goods at the most inopportune time. I decided to take on the challenge and rolled up my sleeves and began by tackling the daunting task of transforming “the shop” into “the store.” The intersection between gemology, jewelry, and technology was where I wanted to be. After a few years of learning the ins and outs of the business, implementing sweeping changes to the business model and making a ton of mistakes along the way, I finally felt comfortable enough with the store’s progress. This progress would be the catalyst to my next endeavor: Chrysella
At the time, Chrysella was no more than just a futuristic–albeit enticing–concept floating around in my head. What I didn’t tell anyone at the time was that I had purchased the domain name, began the trademark process, created a comprehensive business plan and began looking for a retail storefront.
From start to finish it took about 3-4 years before I was able to open Chrysella’s doors. I am a huge fan and admirer of Apple so I aimed to open “the apple” of jewelry stores. Ironically, Chrysella is located about ten feet across from a beautiful Apple store in our shopping development!
Please discuss a role model that motivated you or mentor you had that helped guide you and/or helped grow your business:
Because I started my venture at such a young age, I had so much to learn. I was surprised by how many fellow business owners in my industry were willing to help show me the way. One in particular, Gaby Bachoura, a diamond dealer from Los Angeles, California was instrumental in mentoring me. Gaby took me under his wing and exposed me to the technological aspect of manufacturing jewelry and trading diamonds.
I extend the same sentiment to my family, who have been a huge help for me along the way. Their unconditional love and support are cornerstones to the success of my brand.
Do you recall any specific challenges you encountered and overcame? How did you overcome that and what advice would you give others in your situation?
As the owner of two businesses, I encounter challenges daily. If you don’t encounter challenges, you’re either not moving fast enough or something is wrong with your business. If handled properly, challenges can lead to change and meaningful growth.
For me, opening Chrysella was one of my biggest challenges. It took a lot of work and tested every part of my resolve. I knew the risks involved in brick and mortar and these risks were amplified by everyone I spoke to. Determination played a key factor for me here. I was determined despite all odds to open my dream store and wouldn’t give up until I saw it complete. Perseverance and determination can carry you through any challenge.
As an entrepreneur, what is it that motivates and drives you?
Aside from being in love with the process of developing and operating a brand, the thing that motivates and drives me the most would be our clients. Our clients are what keep us engaged, challenged, and in the perpetual pursuit of providing the best possible product and experience at any given moment.
What advice would you give to other entrepreneurs who are starting out?
That’s a tough one! There are so many key elements for starting and running a successful business. A few that come to mind are:
-Network and consult with industry experts. Immerse yourself within your industry and become an expert. You can learn so much by networking with members of your industry.
-Find your Niche and Specialize. For example, Chrysella’s niche is custom made engagement rings and diamonds. We are able to provide our customers 3D renders followed by a 3D wax model of their product so they can see and understand what their product will look like before purchasing it.
-Take risks. The greatest things in our world wouldn’t exist without someone taking a risk on their idea or product. Don’t be afraid of taking risks, just make sure they are calculated and you can afford a loss in case things don’t work out at first.
-Solve a problem. Uber, Tesla, AirBnB, Facebook. These are all companies that identified and solved a problem. The most successful companies of the future will all be doing this.
-Be comfortable with being uncomfortable. As a business owner or entrepreneur, there is no say what could potentially come your way. OF course it can be rewarding, but owning your own business involves a lot of stress, heartache and hard work that can be uncomfortable at times. Manage it well and understand that it is part of the process and keep moving forward. -Done is better than perfect. My biggest piece of advice to individuals who are considering opening their own business is to understand this concept: Done is better than perfect. This concept was at the heart of my startup journey. Embracing this concept makes the leap to start your own business much easier. Refinement and perfection will then follow suit! Just start!
Where do you see your business in the next 10 years?
In the next ten years, I see my business as a hybrid ecommerce/retail storefront franchise with stores throughout the United States and around the globe. We are living in a very unique world where consumers desire a unique experience coupled with a premium product. I believe Chrysella will be able to fulfill consumer desires on a global scale in a proprietary and meaningful way.
Tell us a little bit about your hobbies outside of your field
Although I work a lot, I make sure to carve out time to have some fun and relax. When I have time off, I enjoy traveling and spending time with friends and family. I’ve recently picked up flying, and I am working on finishing up my pilot’s license. So for the time being, my days off are up in the air!
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