Founder & Chairman, House of Ashish Vijay.
The diamond and precious gemstone industry can be very family orientated. I myself am a third-generation jeweler who has benefited from years of experience from my father and grandfather. I have also spent a long time developing my contacts and honing my own expertise, all of which was definitely made easier by having a solid foundation to springboard off. But what about those who want to get into the industry, but who don’t have any immediate contacts or connections?
For young people wishing to break in, it may seem like a daunting task.
What’s in a name? There are many industries that are firmly family-dominated. Consider the recent headlines around Hollywood and “nepo babies.” These are the children of famous parents who are given a huge leg up into the industry without the long slog to success faced by those without the right connections. In Bollywood, too, there are the “star kids” whose path to fame has already been paved by their parents.
While it can be challenging to enter an industry dominated by family-run businesses, it’s by no means impossible. Like any career, it requires dedication and more importantly, a true interest in the subject.
For budding jewelers and dealers, here’s how to get your foot in the door of the diamond industry:
1: Be passionate about the business.
The diamond and precious stone industry are filled with people who are fervent about the pieces they work with. My father calls certain stones his “babies.” He’s not kidding. They are genuinely as important to him as his children. This level of enthusiasm and emotion is vital if you’re going to thrive in the business.
A large part of showing and developing your passion is through education. The more you learn about the stones and the industry, the more your knowledge will fuel your passion. In order to stand out from the crowd of young entrepreneurs who are also looking to establish themselves, you must put effort into learning about all aspects of the business, including things like pricing, grading, the certification process and stone characteristics.
The industry is not just about handling beautiful stones, it also requires an understanding about regulatory processes, legal practices, the supply chain, financial demands and market trends—the list is endless. Look for gemology courses in your local area or online which are certified, to gain a solid qualification.
2: Be proactive when looking for your first job.
With family-orientated businesses, jobs tend not to be advertised. This is because they’re often filled by relatives. Therefore, your best chance of getting work experience is to visit the store and ask to speak to the owner or manager. With face-to-face interactions, you can really let your passion and enthusiasm shine through in ways that are missed if you just send in a CV and cover letter.
Doing an educational course will give you a taste of the industry, but the majority of your experience will be learned on the job. Bosses are looking for people who exhibit a willingness to listen and learn, and a way to show this is to ask your boss to act as your mentor.
The concept of mentorship used to be prevalent in business but went out of fashion for a long time. Fortunately, mentoring has enjoyed a resurgence in recent years. Don’t be afraid to seek out advice from industry professionals, most are only too willing to pass on what they have learned to younger generations.
3: The importance of building and networking.
Invite me to any precious stone event anywhere in the world and it’s guaranteed that I will know half, if not all the people in the room. The diamond industry is very close-knit and everyone knows everyone.
Networking is vital, so this is not an industry for shy or retiring types, but if you are that type of person, work on coming out of your shell. Deals are often done through word of mouth with contacts, and first looks at certain stones are offered through the connections you make. So be sure to work every room you find yourself in.
4: Never stop learning.
The diamond industry is one which involves constantly updating your knowledge—it’s not a business where you do a course or work for a couple of years and suddenly you know everything. I have been in the business for decades and I can still be surprised on a daily basis, which is one of the great things about it.
Being in the industry means keeping an eye on new trends, developments or advancements in technology and applying them to your own business and career journey. Make it a part of your daily routine to read up on the industry, perhaps over your morning cup of coffee. Go to talks and events, and follow and subscribe to market leaders, newsletters and relevant social media accounts.
Most importantly, talk to people. Pick their brains, ask their advice and soak up their expertise. If the diamond industry is to grow, and develop, it needs younger generations to get involved and inject vital youthful energy, enthusiasm and new ideas.
That person could be you.
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