We were lucky to catch up with Nancy Dunitz recently and have shared our conversation below.

Nancy, appreciate you joining us today. Risk taking is something we’re really interested in and we’d love to hear the story of a risk you’ve taken.

The risks we take as a small business owner are nonstop. Oh my gosh. We take risks daily. I left “Corporate America” in 1989. My friends and family thought I was nuts when I ditched a promising career in the entertainment business. I had worked in the home entertainment divisions of Warner Bros. and MGM/UA and had drool-worthy positions. At least it seemed that way to others looking in. I wasn’t happy and boldly threw my hat in a new ring. I decided to work with artisans (mostly in Guatemala) and collaborate on gift and jewelry designs. It was also important to me that all my business dealings and decisions were made with a strong sense of ethics. It’s why my business Dunitz & Company has been screened and verified by Fair Trade Federation.

A recent risk, and one I’m quite proud of is my decision to start drawing. I had always been told (by my parents) that I couldn’t make a living as a fine artist. I dabbled in arts, but I was never really encouraged. Without formal training, I decided to draw, mostly with charcoal and pastels during the COVID lock down. And I haven’t stopped since. I love people and portraits and that has been my focus. And the bravery, you might call this a big risk, is I’ve been sharing all my artwork on Instagram both on my personal accounts, and adapted it for the Dunitz & Company account.

Nancy, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

I think I touched on this in my previous answer. But, heck. I’ll tell you more. I was educated at University of Michigan (BA, History of Art) and New York University (MBA). I grew up in Michigan but after finishing school I moved to Los Angeles to “make it” in the entertainment business. I had worked at Warner Brothers and MGM/UA and was mostly involved with financial planning. It was kind of sexy going to movie screenings during the day from time to time. I was good at my work but I wasn’t fulfilled. And as you climb the ladder, you are pigeonholed. I was always going to be a finance girl. When I was offered a new job, doing similar at a different company, I decided to do my own thing.

I had already been a world traveler and had made tracks on most continents. And I had always been fascinated by the arts and crafts from just about everywhere. Honestly at the time, I had no idea what I was doing. When I was still working corporate I even created a business plan for starting a business importing and selling crafts. Throw that out the door. My business, honestly has grown with a lot of hip-shooting decisions. I’m constantly making decisions to adapt with the times. One thing was clear to me. When I traveled to developing countries, I was saddened to see so many artisans struggling. I’ve always lived by the golden rule and feel that everyone deserved respect and fair treatment. If I had only been in it for the money, I’d have brow-beaten all my suppliers on price and I’d be a lot richer today. But, I believe in fair trade and fair wages. Lots of small businesses working with artisans use buzz words to sell their products. They’ll tell you they’re fair trade. I’ve been working in Guatemala for a really long time, and I know a lot of the players. And I know many of them aren’t what they say. This is why Dunitz & Company is a proud member of Fair Trade Federation. My business has been screened. Did you know that FTF is only supported by member dues? And a heck of a lot of small businesses that apply for membership are rejected. Just saying. Dunitz is also a Green America Business and verified member of Museum Store Association.

Can you open up about how you funded your business?

You ask a lot of questions! Honestly, I probably did what a lot of small business owners do in order to start a business. They believe in themselves and take a risk with their own money. There are no loans available when you don’t have a track record. I paid fines and used what I had saved in my 401K from my corporate days. And for a few years I lived hand to mouth while I figured out this new business I had started. Did my business almost fail due to lack of financial resources? Yes. When my business was young, I invested a huge amount of money (for me) to exhibit at the then biggest wholesale gift show in the USA, the New York Gift Show. And guess what? The night before the show opened their was a fire at the Javits Center. An electrical fire started in the booth next to mine and I lost everything. Everything. A gift from my mother and brother allowed me to continue my work. I do not give up easily.

Have you ever had to pivot?

Sage advice. You always need to pivot when you have a small business. And you need to be flexible enough to do it. When I first started my business, I was focused on home accessories. For the most part, it was a struggle. I had one big wholesale customer that earned me enough money to put a down payment on a house. When they went out of business, I had almost no business. Thankfully while I was focused on pillows, I had met a group of artisans creating wonderful beaded jewelry. We collaborated and frankly, for me, wholesaling jewelry was a lot easier. For years, I created huge new collections twice a year and sold lots of big expensive pieces to clothing boutiques. I worked very closely with the artisans so we could create fresh designs quickly. And then the economy tanked and retail stores no longer wanted to buy and re-sell expensive pieces. Time to pivot. It became important for us to design lower priced jewelry. And when other importers started copying my designs, I found additional artisans to work with, creating completely new collections made from glass and ceramics. Have I told you we offer some amazing and affordable earrings that make great gifts?

I was a bit slow on the uptake. But the world was changing. Consumers were going online. Time to pivot. Dunitz & Company is primarily a wholesaler. But we do now have retail site linked to our wholesale site where consumers can buy from us directly. And I have a lot of designs for sale on Etsy too. More pivoting. There was a time when Dunitz & Company would exhibit at 16 wholesale shows a year. As buying habits changed, many shows closed or didn’t bring in the draw they had. We reduced the number of shows we attended. And then there was COVID. More pivoting. There are are few wholesale gift shows that are back and operating. But for us, they no longer make financial sense. We’ve been in business for a really long time and we have many loyal customers that don’t need to see us at shows. There is also a newer large B2B website, FAIRE, where many of our clients like to shop. You can easily make wholesale purchases from Dunitz & Company on FAIRE. It’s really terrific when new retailers find us on this site. Pivoting is so important for longevity.

Contact Info:

• Website: https://www.dunitz.com/
• Instagram: https://www.instagram.com/shopdunitz/
• Facebook: facebook.com/dunitz/
• Linkedin: https://www.linkedin.com/company/dunitz
• Twitter: https://twitter.com/ShopDunitz
• Youtube: https://www.youtube.com/c/DunitzCo
• Other: https://faire.com/direct/dunitz https://dunitz.etsy.com