This week on FEW Members' Corner, we would like to introduce you to Iris Ip, Founder of Moni Jewellery, an affordable luxurious jewellery brand.
Hello Iris, what inspired you to start your company?
I started MONI Jewellery three years ago. I felt that most of the Hong Kong women were choosing their jewellery from very limited choices at high prices. Seeing women saving up for round diamond rings that, to me, are not so imaginative and inspiring, I wanted to create a brand which can offer them more variety of styles and designs at reasonable and affordable price range.
I believe that it shouldn't be necessary for women to spend much money to enjoy fine quality jewellery. Just like your favourite shirt or pair of shoes will brighten up your day, wearing a fine piece of jewellery will instantly enhance your mood. You may not even need fancy and expensive clothing in order to show how beautiful and feminine you are. Just wearing an outstanding ring will do the job just as well. The reason why we provide 5-year free warranty, which I believe only we can provide, is that I want our customers to enjoy worry free shopping. Our jewelleries are made by experienced silversmith with excellent craftsmanship.
So far, what's the most challenging part of your journey?
Time management, there’s never enough time. There are a million and one decisions to be made and, last time I looked, there are only 24 hours in a day. So, start by eliminating or minimising distractions – anything that gets in the way of running your business.
What’s the biggest lesson you’ve learned whilst building Moni Jewellery?
Believe in yourself and build self-confidence. If you are not confident enough, you’ll break like a twig the first time you face an obstacle. Whatever you want to achieve, there will be countless barriers questioning your competences. The only way to get through them is by being confident enough that you can and will.
A FEW WORDS OF ADVICE
On growing teams
Embrace change, it’s important to focus on the positive while allowing opportunities for challenges and concerns to be aired. Be sure to talk to your colleagues about the changes, and how they present opportunities.
On the top three things to consider before starting your own business…
Focus on people and their needs: business is all about people. You can’t do it all by yourself. Focus on people, understand their needs, compensate them adequately, and invest in their training. They may or may not stay with you, but it’s important to continually train them.
Find a good mentor: having a good mentor is like parental guidance. You want someone to hold you accountable for your actions, and provide guidance through your journey.
Starting a business can be very exciting. But it’s important to do your homework, and take measured, meticulous steps. Start small and take incremental steps one day at a time.