Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Ruten Bhanderi, Owner of Bhanderi Lab Grown Diamonds, located in New York, NY, USA.
What's your business, and who are your customers?
Bhanderi Lab Grown Diamonds was founded in 2014 with the vision of making diamond jewelry accessible to everyone. Our mission is to democratize access to high-quality diamonds by providing lab-grown diamonds that are not only more affordable but also ethically and sustainably produced.
Lab-grown diamonds are chemically, physically, and optically identical to natural diamonds, with the only difference being their origin - one is formed above the earth, and the other below. By harnessing cutting-edge technology, we are able to offer diamonds that are of the highest quality and purity without the environmental impact and human rights concerns associated with traditional diamond mining.
Our niche category is loose diamonds, which we supply to both jewelry manufacturers and retailers. By working with us, our customers are able to create beautiful and unforgettable jewelry pieces and moments that are not only exquisite but also responsible and sustainable.
Tell us about yourself
As an Indian, I understand that diamonds hold a special place in our culture and society. They have traditionally been considered a symbol of wealth and status, and many people dream of owning a diamond at some point in their lives. However, the reality is that traditional diamonds are often too expensive for the average person to afford. This is where lab-grown diamonds come in. By providing diamonds that are more affordable and accessible, we are able to make people's dreams of owning a diamond a reality. This is what motivates me to do what I do - knowing that I am making a positive impact on people's lives and helping to make their dreams come true.
What's your biggest accomplishment as a business owner?
As a business owner, I consider the realization of my vision to be one of my greatest accomplishments. With the rise of the Millennial generation, we have seen a growing demand for sustainable and ethical products, ranging from vegan cuisine to leather-free bags. This trend towards sustainability has extended to the diamond industry, with more and more people choosing lab-grown diamonds over their natural counterparts. It is truly gratifying to see people purchasing lab diamonds and realizing their dream of owning a diamond.
To me, this represents a significant milestone in the journey of my business. I am proud of the strides we have made toward creating a more sustainable and equitable diamond industry. I look forward to continuing to provide a product that not only meets the highest standards of quality and beauty but also aligns with the values of our customers.
What's one of the hardest things that comes with being a business owner?
One of the biggest challenges I faced in my business was creating awareness and educating people about lab-grown diamonds. When the product was first introduced to the market, there was a misconception that lab-grown diamonds were not "real" diamonds because they were produced in a laboratory setting.
Overcoming this perception required a significant investment in education and marketing to help consumers understand the science behind lab-grown diamonds and the benefits they offer over traditional diamonds. Today, more and more people are recognizing the value and benefits of lab-grown diamonds, and we are proud to be at the forefront of this movement.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
One of the most valuable lessons I've learned throughout my life, both personally and professionally, is to trust my instincts and follow my intuition. I firmly believe that if something feels right, it's worth pursuing - whether it's a new business venture, a creative idea, or a personal goal. Too often, people get bogged down in overthinking and decision gridlock, allowing their fears and doubts to hold them back from taking action. I encourage individuals to step outside of their comfort zone and take calculated risks that will move them closer to their aspirations.
It's essential to remember that success often requires taking a leap of faith and venturing into the unknown. Embracing the uncertainty and challenges that come with pursuing new opportunities can lead to significant growth and development, both as an individual and as a business owner.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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