How Erin McDermott Jewelry became a multimillion-dollar business

How it started: In college, she was at the farmers market by 5:30am every Saturday, selling her wares out of her Four Runner's trunk.

• She's never taken out a loan or brought on investors. She started with a single pair of earrings and kept reinvesting in the business.
• Revenue has grown every year for the last two decades.

What's next: Erin McDermott Jewelry is now open 10am to 2pm Monday, Wednesday and Friday for in-person shopping.

• The address is 344 N. Caswell Rd.

Go deeper: I wanted to learn more from McDermott White about what it takes to build what she has.

Here's an abbreviated version of our conversation.

You started this in high school. At what point did you realize this could be a legitimate business?

In addition to the farmers market, I sold at a high-end boutique in college called Eloise. It would be like Capitol selling in Charlotte, so that sort of validated the business early on.

• I taught right out of college and told myself I would do jewelry full-time as soon as it replaced my salary. That took two years.

How did you know it was time to hire someone full-time?

I was underwater. I had one-offs helping here and there, but I really needed help with operations. I brought on Megan Schlernitzauer part-time to help with social media, but I knew she was much more qualified.

• One afternoon my Facebook and Instagram got disconnected, and I couldn't remember any of my passwords.
• Megan stayed up until 2am figuring it out. I knew I couldn't operate without her. She's been full-time for two years.

Is that when you were really able to scale?

Yes. I really saw the numbers increase when I wasn't hand-making every single piece myself. I make a lot of the samples and choose every single piece we stock, but I outsource more production now.

As you've scaled, how have you thought about pricing?

I've learned to price my jewelry so that people know they're getting something made with real stones, but not so high they have to second-guess buying it. Because I've met so many of these vendors so early in my life, I've been able to keep pieces affordable.

• Some designers might sell their gemstone candy necklaces for $1,500. I work with those same sources, but because I go straight to the vendor, I can make prices more accessible.
• Of note: The most expensive necklace on McDermott's site right now is $140.

What's been your toughest lesson as a small business owner?

There's been a couple of times that I have done something to try to fit in. Once, I was featured in Real Simple magazine with pieces under $50. They reached out again, but they wanted me to share a black statement necklace. I made a piece that fell apart. It was not my brand, but I did it just so I could be featured. I realized you have to stick to who you are; your customers will know if you stray from that.

What's the best advice you've gotten as an entrepreneur?

Delegate when you can delegate, and let those you delegate to automate when they can automate. A team and their energy is really important, so you need to make sure anyone working on your team is in an area they can thrive.

How do you maintain your brand while also evolving with jewelry trends?

I've stayed under the radar. I stay connected to the vendors and to the customers. I'm not here to prove anything. I like working, I have a creative edge. If I love something, I'm going to sell it.

• As for trends, the vendors are on the cutting edge. They're the ones creating and making fashion, and I have insight because of them.
• The main part for me is the everyday woman. I like seeing what confident women are wearing in everyday life and while traveling.

Your business has evolved over the years. Why was now the right time for a storefront?

I'd say right now, 90% of our business is online. As much as I love the streamlined process of online sales, it's still all about people, and this gives us a chance to still meet with people and to build another arm of our business.

• It will also be a great way for other businesses to be involved and to collaborate and have events together.

Where will your business be in five years?

I've never had a goal, but we are definitely not slowing down! I'm sure I'll still be trying to find balance (I haven't yet).