Making Money In The Diamond Business | KIM LAW TV | Ep.8

a diamond is forever that phrase sparked a 72 billion dollar a year industry it's an industry that's wholly unique because the marketing scheme revolves completely around an idea rather than the product itself so nobody actually needs a diamond but when we get married it's something that's expected in society if you get married you're going to deliver a diamond because diamonds now represent love and eternity I think we can learn a lot from the diamond industry in that regard so no matter how good your product is or your services you can make more sales you can provide more services if you get behind the idea of marketing and creating this idea of desire and necessity even when it's not so today we're going to get to talk to my best friend Nihal and he's going to give us the inside scoop on what it's like to sell diamonds because he's a diamond wholesaler so stay tuned and it's a SunTrust right [Music] Oh CEO [Music] I'm here with Neil all this is my best friend he's also the CEO of Durov a high-end jewelry line and he's also my favorite fighter and fighting is my favorite sport so thanks so much for doing this kind of no worries bro but before we get into the diamonds I really want to talk to you about fighting because that's how we got to know each other that is true so my cousin was actually friends with you and I'm obsessed with fighting it it's to me the most pure sport there is you know there's a clear winner there's something really beautiful about it's not just a violence that I like I love the discipline it takes to get to that point the technique all of that when I found out that my cousin had a friend that did this for a living like I had to meet you yeah and I think it was right before your WK champion it was it was a couple weeks we were at the club hanging out and stuff and uh yeah Tim was like constantly my cousin was to meet you lawyer he was to represent you I was supposed to be your agent yeah exactly and you crushed my dreams I'm sorry I'm sorry when I first like hurt I can't really give me too much like info on you stuff so I thought like maybe just like some kid who graduated college but you look so young I could not believe like you I remember that you thought that I was your age yeah I'll take that as a compliment it is definitely yeah and then after that we just became really good friends yeah and I think we got really close because I like to consider myself to be someone who's discipline who works hard and I know what it takes to like I know you never got your first pro fight but even as an amateur to reach the level of being a champion it takes a tremendous amount of skill training all that sure how I immediately saw the connection [Applause] [Applause] why did you get involved in fighting I grew up doing Taekwondo when I was like five years old my dad's always been like a huge martial arts like fan like Bruce Lee is probably one of his favored your dad's in the market yeah he's he's really into it well he said he always wanted a martial art so he put us in martial arts so we grew up with that basically in between time when I moved to Atlanta from Kentucky because where I started Taekwondo I didn't pick it up I didn't like stay with it you know 12 years later again one day I was bored and someone else you know I'm gonna go try it out you know I guess I still got the hands I can still fight a little bit and that was not the case I got beat really bad my first week training I remember everybody like took my ass to town during sparring well make you want to keep going up to H or SP I have a big ego probably it's just kind of like I can't stand it I like got beat so bad right before you're a championship fight right before wka you're going in there like what goes on in your mind because it fear is it like happiness joy or you just like blank like man it's it depends on the experience you know like I can tell you my first time it was a lot anxiety a lot of fear then as you like you know every fight you get like this notch on your boat you're like more confident and more like you know like I'm gonna get it you know especially if you put in all the hard work and training you know that really makes your confidence high I love that because hard what never betrays you right yeah I mean that's the only confidence you really get in that kind of chaotic situation like I did all the conditioning I did all the training I mentally prepared myself I know that I did all these little things so that's my confidence I go in there when I go to fight and then show out exactly what's it I remember when you're training you hurt your knee turning to the sides of watermelon and like because you're about to actually get your first pro fight you were indigo she had a couple offers you know from out I was excited to yeah it was it was a really exciting time to never breaking you know trying to get to the next level so it was but you know things happen and I had to make a decision and that's another tough choice to make a it's a really hard choice because basically you know like six seven years of doing the same thing and then like one day you like I'm gonna stop and do this new journey this new adventure start from the bottom again we you know if the company you make yourself yeah if the reinvent who you are and so the obvious question to me then is why diamonds I mean it was a it's a family business you know there's a lot of factors I went into and personally for me I just felt like it was the right decision at the time you know you heard me talking about it it's it's not about selling a product it's about selling an idea mm-hmm but for me when I when I think about that to me that's more about retail but in your life it's actually more transactional because you're selling to the retailers as a wholesaler right so how do you advertise that it's a little bit different but not too much at the end of the day you're so giving the same campaign you're so giving on emotion and feeling because most product doesn't matter if it's diamonds if it's a service if it's a clothes you know if it's your car you have to feel good when you buy it if you don't feel good about buying something no matter how much utility it has you not gonna buy it we definitely have to talk about your your line de rêve yeah so we know Joe I know jewelry land that's your father's business he's got in the game but let's talk about the ref how did this happen you know it's been a something my dad we've talked about for a pretty long time about doing my own line my own little project because you know he's already established one division and you know I think it's a successful business especially when you have like you know two sons are in it now then me and my brother in it it's smart you know diversify and try to expand to different markets for me it's kind of a little bit more of a passion project to you because we get to do a different line of jewelry we could have ventured with different customers and it's kind of like I'm putting my own mark on what my father already started I get to add to what he did instead of just carry on what he's doing already I get to do that plus make my own name for myself but that's how you differentiate my daughter is nothing different why don't we like ice so much what is that you know what if somebody told you to like it no no we all like you but it's crazy like that because it doesn't actually do anything doesn't keep you warm utility in a product is not gonna always be there like fashion like that louis bag you know somebody so he's worth it yeah i may have good material but is it worth really what it's worth no it's not diamonds don't have utility but you know that time when you propose to your wife or girlfriend at the time you know those moments you captured on camera that feeling you get when you give it a present you known to your mom to your wife to your cousin your sister it's a guys i don't f you that championship ring that you have on yeah those feelings you can't manufacture that i can't put a price on you can't put a price on [Music] my whole like show is about like empowering young people to do what they want to like stake out on their own create their own path rate rural businesses what advice can you give the young generation about you know getting into this I mean to me it's a really hardcore cutthroat industry you know so yeah I mean there's a lot of routes obviously you know so definitely figure out what you want to do on top of that you know be mad passionate about it it'd have mad Drive that internal pressure to go forward because once you figure out what you want to do you can find the path to it pretty easily even if you don't have all the opportunities or support behind you know your product know your customer and know what you want and at the end of the day that's gonna take you really far in life and then I mean if I want if I really say I'm gonna do this I'm gonna do it that's all that matters thank you so much for taking the time to do that man good luck with everything with de rêve I know you're not training anymore but if you do you know you can call me beer out for sure sure when I get my super no no apply you be the first [Music]

Channel: Edward F. Kim

Views: 36,879

Rating: 4.6289592 out of 5

Keywords: young entrepreneurs, how to start a business, how to sell diamonds, diamonds, Jewelry, diamond rings, diamond necklaces, business motivation, business inspiration, chasing your dreams, never give up, young business owners, business owners, starting a business, how to make money, atlanta business, atlanta lifestyle, hypebeast, louis vuitton, personal injury, atlanta lawyer, day in the life of a lawyer, law firm

Id: hJE5CMcCM2Q

Length: 10min 47sec (647 seconds)

Published: Sun Jun 24 2018