As the managing director of London Diamonds, I’m a disruptive innovator with a fresh take on the traditional jewellery industry. By bringing affordable lab grown diamonds, bespoke jewellery and expert advice from the London Diamonds team together, I have created a responsible, ethical and innovative way to help so many people make the most important life purchases.
Bespoke jewellery seller London Diamonds disrupts traditional jewellery industry
The business idea for London Diamonds came from a personal experience. While searching for a replacement for my wife’s engagement ring, I was surprised by the obvious mark-up and inflated prices in the luxury sector for engagement rings.
I launched London Diamonds to change this and to bring an innovative approach to the diamond engagement ring sector, including offering lab grown stones at a fair price. Lab grown diamonds are the future of the diamond engagement ring and wider world jewellery market. I wanted to create a company that offers a real choice for the UK market and isn’t held back by outdated attitudes towards natural diamonds or lab grown stones.
There is a place for both mined diamonds and for lab diamonds, but the former is more for investors and people who are trying to get something back later on. At London Diamonds we concentrate on bringing the luxury diamond engagement ring market to people via lab grown stones as well as some naturally mined diamonds. The two are physically identical when set in a diamond engagement ring and it represents the best way for people to buy bespoke pieces at a fair price.
Active investor in art and technology
It’s this expertise in investment that makes me so successful in running this lab diamonds business. I recognise the difference between investing in an asset class for long-term benefit and simply buying something that you really personally value.
When it comes to mined diamonds, for example, the only people who need to worry about its investment value are those hoping to make it pay dividends over the long-term.
Most customers and clients are looking for quality and don’t need to worry about how to invest in the diamond market itself. I’m based in London and, while my London Diamonds team work harder than ever to ensure customers and clients are happy, I continue to search out investment opportunities around the world.
I invest in art, gold, luxury categories and cutting edge technology. By keeping an eye on trade and the demand for new tech, it’s possible to be a successful investor – but for total beginners trying to decide whether to get involved, it’s wise to be prepared.
Different types of investment
There are a number of different ways to get involved in investing. If you’re a total newcomer, then my first piece of advice is to never, ever invest more money than you can afford to lose.
The creation of a coherent investor plan is key, and whether you’re an entrepreneur with investment ambitions or have an understanding of specific markets, never dive in without having a plan created and checked.
Whether you’re interested in shares, growth investments, property investment or luxury asset classes, such as diamonds, art or gold, there are steps you can take to protect your future.
Investment tips
There are many reasons why people are becoming more interested in investing both in the UK and around the world. As we continue to grind through the cost of living crisis, particularly in the UK, people understandably want to find ways to make their investments go further.
And there are many adverts online about investing in everything from gold to cryptocurrencies, but it’s absolutely essential to properly understand the market that you intend to enter before laying down any money.
Any experienced investor will tell you that it’s essential to have a diversified business portfolio in order to really be able to future proof your investments. This is what will ensure your investments run their course and pay out without the pressure of putting everything into one asset class.
Above all, investment is always speculative and it’s best to look beyond how good the opportunity appears on the surface before it’s decided.
Here are my basic tips for all investors just starting out.
Investment tip 1: Ensure your finances are in good shape
You may be thinking that you need money and that’s why you want to start paying out for investment opportunities. However, if you don’t already have your basic finances in decent order then you will undoubtedly pay the price down the line.
Before you make an kind of business decision regarding investing in any asset class get a nest egg in place. When that’s done, you can begin to examine the opportunities to make more, all the while knowing you have enough to get by on if necessary.
Success lies in preparing for the worst and being able to ride out any market dips.
Investment tip 2: Devise an investment strategy and don’t deviate from it
You may have seen an opportunity online that appears tempting – it may even appear guaranteed – but you should only get involved with investments if you have a clear strategy, timeframe and end goal mapped out.
Otherwise, you’re just gambling and are likely to fall foul of poor investment decisions. When you’ve decided your ideal timeframe and what you actually want to achieve financially you’re ready to make decisions.
Ask yourself whether you should get some formal financial advice, whether you can afford to lose what you have and whether your investments are properly regulated.
As you work through your strategy, replace the parts that don’t work and ensure that the exact plan is laid out, including the date you want to tap out.
Investment tip 3: Diversify as much as possible
Anyone who owns a business or has a rough idea of the market will know that you don’t have to be born with financial genius to understand that the stock market can go up and down a lot.
If you have plenty of time on your side, there’s still no doubt that sticking to stocks and shares will most likely give you a higher quality return than some other asset classes.
However, you may prefer the idea of more balanced assets, perhaps including the other option of bonds for example.
Investment tip 4: Keep it simple
Don’t allow yourself to get sucked into all kinds of emerging markets. The financial world can seem enormously complicated and this can be off-putting to those worried about paying the price for naivety or bad decisions.
Get comfortable with your chosen asset mix and keep an eye on the markets. This may mean you grow in confidence and decide to expand your asset classes.
Diversification should pull in alternative asset classes, such as gold and art. My final tip will always be to ensure that you are on top of your strategy and that you periodically update it.
Don’t get complacent, work harder to stay updated on current markets and never invest if you don’t have enough money to live your life without it.
