Ayodele Donye Samson, founder and CEO of E4Luxury Jewellers has said that key principles of entrepreneurship works for all businesses, irrespective of time, place and product.
Samson said that is why someone can afford to expand into a new product and service area or another country entirely and become successful by applying the same principles.
The E4Luxury boss noted that outsiders often assumed that those in the jewellery business apply some esoteric business principles. “The principles of profit, customer service and business administration is the same for all businesses and that is what we apply in the business of buying, selling and designing of luxury jewel pieces, ” he said.
He emphasised the importance of applying business principles by up-and-coming jewellers.
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Speaking further, he avowed that a jeweller must have a love for precious stones. “To succeed, you must have an eye for genuine jewels, and must look out for what your customers will like to wear,” the E4Luxury boss affirmed.
He also harped on the importance of training for anyone who wishes to be among the top jewellers in the market.
“I can make an example of myself with my humble beginning as an affiliate marketer. Remember, my educational background is in Mass Communication, but between 2014 and 2022, I have undergone relevant industry training and I am still going to do more training,” he stated.
Emphasising the usefulness of industry training, Samson explained that the jewellery business is highly competitive and only those who are creative per custom designs will attract better-paying customers.
“More importantly, you must build trust. There must not be an element of fraud in your transaction with customers. You must be known for integrity when it comes to supplying original and high-grade precious stones and customers must feel safe they are getting value for their money. Once they have that trust in you, the word will spread and other customers will find their way to your doorstep,” Samson said.
