Someone who read my blog on guiding principles said OK, that’s all very well but what are your guiding principles and those of your company? A fair comment and one that deserves a response.
First of all I think to add value to any business relationship you have to start off from a position of mutual respect which means you will automatically want to do the right thing for the client because whatever advice you offer, you know and they know it is offered in a spirit of constructive and confident engagement. We have always found that where the relationship is based on mutual respect and confidence communication is easy, effective and invariably productive in the long term. I have never wanted to represent or defend clients I didn’t genuinely like and believe in.
I have invariably found the closeness of the relationship evolves into a real friendship and nothing has given me greater satisfaction over the years than the enduring relationships I have had with my clients and colleagues both in India and other centres. Now that I am older and wiser I value these relationships more than ever and it is particularly gratifying to work now closely with the sons and nephews of the pioneers of the industry who, of course, have had the benefit of the best education that money could provide, whereas their fathers (several of whom started in this industry at a very young age) learnt everything in the much tougher ‘university of life’.
If you lose your respect for a client or company (and regrettably this can happen) then it is far better to concentrate on those companies for whom you retain respect and remain worthy of your full support.
A good broker is always acutely aware of each client’s individual sensitivities as well as their legitimate collective concerns about their own interests being properly represented.
A DTC broker, several years ago, unusually issued a formal and very public statement which received wide coverage at a time when the implications of Supplier of Choice was foremost on everyone’s minds stating that they had been appointed by the biggest US jewellery retailing group to assist them develop their manufacturing with a view to them becoming Sightholders. This, of course, hasn’t happened and a recent statement by the company involved confirmed that they were withdrawing from their manufacturing activity. However, let’s imagine the broker had been successful and I was one of their existing Sightholder clients I would have had very serious misgivings about them taking a position that sat so very uneasily with my own interests and in relation to those core diamond skills which rightly define Sightholder status.
The apparent lack of respect for their existing client base was the most striking thing about the statement, as well as the obvious opportunism of their intentions. We have now moved on into a much more realistic place and while we all accept that there are often definite advantages in vertical integration, when properly conceived and soundly based on core skills, this sort of band wagon approach is rarely the right reason to do something.
We have also been a company which never takes the view that only big is beautiful and we will always fight for a justifiable cause regardless of the size of our client’s business or the slickness of their presentations over the reality of their business.
Also I do sincerely believe that business should, whenever possible, be fun – one should enjoy the challenges and the people you work with. This encourages not only confidence but creativity and stiff over-formalised interchanges are not only uncomfortable but additionally are normally unproductive and unsatisfying. Normal human beings (and yes, I count myself as one) appreciate warmth and humour in their business interactions, which is why Mahiar Borhanjoo’s style of communication is appreciated and no one I know feels his humorous asides and banter diminish in any way his message or his astute business acumen and sound vision.
In short, our guiding principles remain to continue to always endeavour to do the right thing for the right reasons at the right time and thereby get it as right as possible for all our clients first of all and in doing that hopefully for ourselves too.
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Principle; both a noun and adjective:
So, sadly one of the principle DTC directors who played a major historic role in guiding the Industry through good and bad times has died; Alex Barbour. My recall of Alex is that he appeared to display great patience whilst Monty Charles was at the helm, but on assuming leadership following such a charismatic boss, he displayed a policy on diamond matters few could criticise. He clearly enjoyed picking up ‘specials’ and viewing large-stone layouts. It was a time of the Industry when there was a degree of enjoyment and if I recall correctly Alex was originally a banker, which is my first good thought about that industry in years. My condolences to his family.
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