Friday, April 19, 2013
Tuesday, March 30, 2010
Tuesday, August 18, 2009
S'PORE INT'L JEWELLERY FAIR, 30 JUL TO 2 AUG 2009
GINZA JEWELRY is proud to participate as an exhibitor in this prominent grand event. We are proud to co-operate with our major business associates in Hong Kong and Japan to bring out a spectacular wide variety of wonderful jewels to our customers
2004 Awards SPIRITS OF ENTERPRISE
Mr Anthony Lee
Ginza Jewellery
(Extracts of)Interview with Mr Anthony Lee
1. What is the nature of your business? (Business Profile)
I’m a jewellery wholesaler that fills the gap between the factory and retail shops. For my business, I get the factories to manufacture niche market jewelleries which are different from the rest of the jewellery shops so that I can market to the smaller individual retail shops.
2. What made you embark on this venture choice?
I asked myself what I wanted and I said, “look, I don’t want to be a clerk forever.” I want to venture into something that even if the pay is low, I have a chance to be my own boss.
3. How does your business work?
As I said earlier, I’m the middleman between the jewellery factories and the retail shops. I try to source for the cheapest and the best precious stones like rubies, sapphires, emeralds, and jade. After that, I get the factory to come up with a design, or even, I come up with a design myself, that is different from the market.
4. Did you have the capital to start the business or did you have to borrow from someone to get started?
Back then in 1974, after I had worked in SIA for 2 years and then worked for someone else as a loose diamond salesman for another 6 years, I didn’t have much savings. I borrowed S$30,000 from my mother to get started. Even though it might sound like a big sum of money, it is actually considered quite little for this trade which can sometimes have transactions of up to hundreds of thousands or even millions of dollars. Thus it is your honour and trustworthiness that is your most important capital. If not, you would need millions of dollars just to start up your business.
5. Do your parents have their own businesses too? Have they inspired you in one way or another?
My parents had their own business at that time but I did not want to carry on their business. I want to start a business of my own.
6. What was your childhood dream? When did you decide that you would strike out on your own instead of working for someone else?
My childhood dream was to be an officer in the Army.
7. Why does someone decide to be on their own rather than join an existing company?
First of all, one has to decide for himself what trade he’s interested in and what the prospects of that trade are. Only then, can someone decide to be on their own. If you think that you can just “try it out”, you won’t go anywhere. One has to make up one’s mind right from the start. One needs to have a desire to be on their own.
8. Are there at any point in your life that you experienced a significant event (WW2, racial riots of the 1960s, the Economic Crisis of the 80s or 90s, SARS, new competition or shifts in market behaviour and trends) which affected or influenced you and your business that made you change the way you think and do your business?
For me, it’s the recent SARS crisis, the collapse of the economy. The jewellery trade is always the first to be affected by a bad economy and always the last to be benefited from a good one. This is because only after a person has everything i.e. a car, a house, and a vacation, then will he decide to buy jewellery. So, jewellery will always be the last to benefit should there be an upturn, but the first to be hit should there be a downturn.
9. What are some of the challenges in starting a business from scratch? (Modify question to what are some of the challenges in maintaining a family business if applicable.)
Making it through the whole way and not looking back. You need to make up your mind right from the start when you start a business. Making your choice as to what you really want.
10. Who/What motivates you?
The desire in me that doesn’t want my life to be all planned like: 2 years later I’ll be here, another 2 years I’ll be there.
11. Tell me about the first few customers and the first few years of business.
Before I started out my own business, I was employed by somebody. That means I already have my on customer base. However, I did not use this customer base at the start of my business because I have already made an agreement with my ex-boss that I will leave his customers intact, and that I will look for my own customers. In fact, he even supported me with some goods. In my case, the important thing here is this: you would need to spend an “X” number of years to establish your own name and your own customer base.
12. Please tell me some stories of your best day in business or your proudest achievement to date.
Therefore, my best days and achievements and satisfaction come when I manage to buy very cheap goods from the market and sell it to the retailers and the retailers can make a handsome profit from my goods.
13. Do you recall your worst day in business? Have you ever felt like giving up?
Of course. The worst days of business is when there are crises and when your debtors can’t pay you or when they pay by very small instalments and there would even be situations where for months or even years that your retailers can’t buy any goods from you because they are running at a loss with very heavy overheads. They already have a lot of stock thus they refuse to buy from me for almost 2-3 years. A terrible drought.
14. When was the moment you realised the business would work and support you?
I would say, immediately when I first started. When I first started, I had already spent 6 years making money for people so I’m very confident and I know that the chances of failure are not high for me. At that time, I could easily make $8,500 a month.
15. What are some of the things you have had to overcome to succeed?
You have to take failures. Whereby sometimes, losses may even be so great that it may eat into your reserves; and after dry spells, you would need to sell your goods at a loss and lose your cost of workmanship, your manufacturing costs and everything. By doing that, you can take whatever money you recovered from the stock to start all over again.
16. What are some qualities that you feel you possess which differentiate you from someone who works for others?
The spirit of entrepreneurship and the preparedness to take risks.
17. To succeed in business, what qualities are essential? What are some of the secrets in making a successful business?
Speaking from my own experience, the person who buys from me must make money. It is more like helping the other party to make money. This is a very “continuous” business because if he doesn’t make money, I’ll never be able to make money. So it’s more important that he makes money. It may sound very noble but the fact is this: if he doesn’t make money from my goods, he will not buy from me, then how am I supposed to make money? It definitely has to be a win-win situation.
18. Who or what inspires you?
My own desires. It’s not so much of an external factor, but it is what you want for yourself.
19. Have you ever thought of expanding the business in some way or in multiple locations? How and where?
Now, with the recent developments, Singapore has become such a small market for my business that I need to venture into other countries. I spent 2 years going around China because I thought that it was the biggest market but I found that it was almost impossible. So now I’m looking into Malaysia and have already gone into it. Malaysia, no matter what, is nearer and is within control. The element of risk is definitely there, but it’s not too high.
20. What aspects of expansion would you like to see for your enterprise?
Hopefully the Malaysian market can live up to my expectation and enable me to operate in Malaysia.
21. In your opinion, how would you define entrepreneurship?
I would say that entrepreneurship is not just willing and dealing i.e. buying and selling. It’s more of a relationship whereby you can see those who goods buy from you grow. I like to seek out people who are new and I like to give advice to people. Even those who are very much older than me. Especially those traditional goldsmiths where they have sold the same things to the same category of people in the same way for many many years. I want to help them to venture out and re-educate them about new products and things to meet the needs of new consumers.
22. To what extent does one?s educational level help or hinder entrepreneurial-ship?
I would say that at my time, if you have too much education, it would hinder. For my own case, if I had a university degree, I would have stayed in SIA.
23. As we try to select the final 41 entrepreneurs, what qualities would you think a person should have to inspire others?
I would still stick to my basic principle that every person is born different. A man needs to make decisions, but there are no such things as a correct or wrong decision. There’s no such thing as right or wrong.
24. What are some of your own values in doing business and what do you like to pass down to others, particularly the younger generation?
Honesty, sincerity and trustworthiness are the best policy. These three things will see you through at all costs. And in business, credit is very important. Without credit, you can’t do anything.
25. What advice would you give young people who want to start their own business?
Be prepared to really work it through and don’t even think of salary. The thing is, if you keep on thinkingBeing an entrepreneur has its rewards, but it also has its downs. It is challenging, I would say. You need it in your blood, if you don’t have what it takes, don’t try it.
26. Please assist me in coming up with 2 lines synopsis. These 2 lines will highlight the interview for viewer who be reading this synopsis before the entire interview.
Mr Anthony Lee, a wholesale jeweller who adopts and adapts to changes comfortably and quickly; and also one who retains the old rustic charm of a traditional down-to-earth, weather-beaten businessman. A person who puts others before himself and holds honesty, integrity, and sincerity in high regard. A perfect mélange of the old and new face of the jewellery industry.
Interviewed by Ong Hern-e Silvester on 2004-04-04. FOR DETAILS OF INTERVIEW, go to
http://www.soe.org.sg/files/o_interview.php?sid=356&a=&c=&year=2004&n=115
Mr Anthony Lee
Ginza Jewellery
(Extracts of)Interview with Mr Anthony Lee
1. What is the nature of your business? (Business Profile)
I’m a jewellery wholesaler that fills the gap between the factory and retail shops. For my business, I get the factories to manufacture niche market jewelleries which are different from the rest of the jewellery shops so that I can market to the smaller individual retail shops.
2. What made you embark on this venture choice?
I asked myself what I wanted and I said, “look, I don’t want to be a clerk forever.” I want to venture into something that even if the pay is low, I have a chance to be my own boss.
3. How does your business work?
As I said earlier, I’m the middleman between the jewellery factories and the retail shops. I try to source for the cheapest and the best precious stones like rubies, sapphires, emeralds, and jade. After that, I get the factory to come up with a design, or even, I come up with a design myself, that is different from the market.
4. Did you have the capital to start the business or did you have to borrow from someone to get started?
Back then in 1974, after I had worked in SIA for 2 years and then worked for someone else as a loose diamond salesman for another 6 years, I didn’t have much savings. I borrowed S$30,000 from my mother to get started. Even though it might sound like a big sum of money, it is actually considered quite little for this trade which can sometimes have transactions of up to hundreds of thousands or even millions of dollars. Thus it is your honour and trustworthiness that is your most important capital. If not, you would need millions of dollars just to start up your business.
5. Do your parents have their own businesses too? Have they inspired you in one way or another?
My parents had their own business at that time but I did not want to carry on their business. I want to start a business of my own.
6. What was your childhood dream? When did you decide that you would strike out on your own instead of working for someone else?
My childhood dream was to be an officer in the Army.
7. Why does someone decide to be on their own rather than join an existing company?
First of all, one has to decide for himself what trade he’s interested in and what the prospects of that trade are. Only then, can someone decide to be on their own. If you think that you can just “try it out”, you won’t go anywhere. One has to make up one’s mind right from the start. One needs to have a desire to be on their own.
8. Are there at any point in your life that you experienced a significant event (WW2, racial riots of the 1960s, the Economic Crisis of the 80s or 90s, SARS, new competition or shifts in market behaviour and trends) which affected or influenced you and your business that made you change the way you think and do your business?
For me, it’s the recent SARS crisis, the collapse of the economy. The jewellery trade is always the first to be affected by a bad economy and always the last to be benefited from a good one. This is because only after a person has everything i.e. a car, a house, and a vacation, then will he decide to buy jewellery. So, jewellery will always be the last to benefit should there be an upturn, but the first to be hit should there be a downturn.
9. What are some of the challenges in starting a business from scratch? (Modify question to what are some of the challenges in maintaining a family business if applicable.)
Making it through the whole way and not looking back. You need to make up your mind right from the start when you start a business. Making your choice as to what you really want.
10. Who/What motivates you?
The desire in me that doesn’t want my life to be all planned like: 2 years later I’ll be here, another 2 years I’ll be there.
11. Tell me about the first few customers and the first few years of business.
Before I started out my own business, I was employed by somebody. That means I already have my on customer base. However, I did not use this customer base at the start of my business because I have already made an agreement with my ex-boss that I will leave his customers intact, and that I will look for my own customers. In fact, he even supported me with some goods. In my case, the important thing here is this: you would need to spend an “X” number of years to establish your own name and your own customer base.
12. Please tell me some stories of your best day in business or your proudest achievement to date.
Therefore, my best days and achievements and satisfaction come when I manage to buy very cheap goods from the market and sell it to the retailers and the retailers can make a handsome profit from my goods.
13. Do you recall your worst day in business? Have you ever felt like giving up?
Of course. The worst days of business is when there are crises and when your debtors can’t pay you or when they pay by very small instalments and there would even be situations where for months or even years that your retailers can’t buy any goods from you because they are running at a loss with very heavy overheads. They already have a lot of stock thus they refuse to buy from me for almost 2-3 years. A terrible drought.
14. When was the moment you realised the business would work and support you?
I would say, immediately when I first started. When I first started, I had already spent 6 years making money for people so I’m very confident and I know that the chances of failure are not high for me. At that time, I could easily make $8,500 a month.
15. What are some of the things you have had to overcome to succeed?
You have to take failures. Whereby sometimes, losses may even be so great that it may eat into your reserves; and after dry spells, you would need to sell your goods at a loss and lose your cost of workmanship, your manufacturing costs and everything. By doing that, you can take whatever money you recovered from the stock to start all over again.
16. What are some qualities that you feel you possess which differentiate you from someone who works for others?
The spirit of entrepreneurship and the preparedness to take risks.
17. To succeed in business, what qualities are essential? What are some of the secrets in making a successful business?
Speaking from my own experience, the person who buys from me must make money. It is more like helping the other party to make money. This is a very “continuous” business because if he doesn’t make money, I’ll never be able to make money. So it’s more important that he makes money. It may sound very noble but the fact is this: if he doesn’t make money from my goods, he will not buy from me, then how am I supposed to make money? It definitely has to be a win-win situation.
18. Who or what inspires you?
My own desires. It’s not so much of an external factor, but it is what you want for yourself.
19. Have you ever thought of expanding the business in some way or in multiple locations? How and where?
Now, with the recent developments, Singapore has become such a small market for my business that I need to venture into other countries. I spent 2 years going around China because I thought that it was the biggest market but I found that it was almost impossible. So now I’m looking into Malaysia and have already gone into it. Malaysia, no matter what, is nearer and is within control. The element of risk is definitely there, but it’s not too high.
20. What aspects of expansion would you like to see for your enterprise?
Hopefully the Malaysian market can live up to my expectation and enable me to operate in Malaysia.
21. In your opinion, how would you define entrepreneurship?
I would say that entrepreneurship is not just willing and dealing i.e. buying and selling. It’s more of a relationship whereby you can see those who goods buy from you grow. I like to seek out people who are new and I like to give advice to people. Even those who are very much older than me. Especially those traditional goldsmiths where they have sold the same things to the same category of people in the same way for many many years. I want to help them to venture out and re-educate them about new products and things to meet the needs of new consumers.
22. To what extent does one?s educational level help or hinder entrepreneurial-ship?
I would say that at my time, if you have too much education, it would hinder. For my own case, if I had a university degree, I would have stayed in SIA.
23. As we try to select the final 41 entrepreneurs, what qualities would you think a person should have to inspire others?
I would still stick to my basic principle that every person is born different. A man needs to make decisions, but there are no such things as a correct or wrong decision. There’s no such thing as right or wrong.
24. What are some of your own values in doing business and what do you like to pass down to others, particularly the younger generation?
Honesty, sincerity and trustworthiness are the best policy. These three things will see you through at all costs. And in business, credit is very important. Without credit, you can’t do anything.
25. What advice would you give young people who want to start their own business?
Be prepared to really work it through and don’t even think of salary. The thing is, if you keep on thinkingBeing an entrepreneur has its rewards, but it also has its downs. It is challenging, I would say. You need it in your blood, if you don’t have what it takes, don’t try it.
26. Please assist me in coming up with 2 lines synopsis. These 2 lines will highlight the interview for viewer who be reading this synopsis before the entire interview.
Mr Anthony Lee, a wholesale jeweller who adopts and adapts to changes comfortably and quickly; and also one who retains the old rustic charm of a traditional down-to-earth, weather-beaten businessman. A person who puts others before himself and holds honesty, integrity, and sincerity in high regard. A perfect mélange of the old and new face of the jewellery industry.
Interviewed by Ong Hern-e Silvester on 2004-04-04. FOR DETAILS OF INTERVIEW, go to
http://www.soe.org.sg/files/o_interview.php?sid=356&a=&c=&year=2004&n=115
Subscribe to:
Posts (Atom)