I had the pleasure of interviewing Anubh Shah, co-founder at Four Mine.
Jean: Thank you so much for doing this with us! What is your “backstory” of how you become a founder?
I am a cofounder at Four Mine. We’re revolutionizing the diamond engagement ring shopping experience by bridging the best of online and offline shopping with our At Home Preview for engagement rings. I’m passionate about ecommerce and bringing customers a simplified and more rewarding way to shop having seen the fear and uncertainty that many experience while purchasing a big ticket item like an engagement ring. We send customers realistic replicas of their favorite ring styles so that they can sample their favorite styles before they commit to making a purchase. This transparent, on demand and easy way to shop resonates with millenials and those who grew up shopping online. I’m passionate about taking this forward and making jewelry shopping online stress-free. We’re growing at a rate of 10x this year and will be continuing through the rest of the year on the same trajectory.
Jean: What do you think makes your company stand out? Can you share a story?
I founded this company with my wife soon after popping the question to her! We’re a couple that was excited to start this business because of our family background in the space. But also because diamond rings are continuing to be the symbol of love for couples. While trends and styles may change, diamond engagement rings are continuing to be the focal point of an engagement. Over 60% of women are now actively involved in deciding what engagement ring they want. According to a study done by the The Knot the average spent on an engagement ring has increased this year. So while prices may be less because of industry related fluctuations, people are still opting to invest in diamond engagement rings. The classic beauty and the symbol of love that it represents are deeply ingrained. We’ve worked with many clients for whom quality is of utmost importance- so while they may not opt for a large size- they are looking for unique setting that matches their personality but is still classic. While people may look for alternatives when it comes to jewelry- they still want diamonds for their engagement rings.
Jean: Are you working on any exciting projects now?
We’re currently working on rapidly expanding our rings to include styles that are customer favorites. Because we are one of the few jewelers that are able to make everything start to finish in house, we can make new designs, tweaks to existing ones and custom jewelry very quickly and easily. This allows us to be very agile and cater to customer needs and wants well. Customization and catering to customer needs is the key to customer happiness.
Jean: Do you have a favorite book that made a deep impact on your life? Can you share a story?
Jean: What are your “5 Lessons I Learned as a Twentysomething Founder” and why? Please share a story or example for each.
1. Work on your intelligent risk- taking abilities: Whether it’s making a financial decision, entering new territory or trying to change consumer behavior, an entrepreneur should have the appetite to take measured risks that may pay off.
2. Learn to be not only thick-skinned but resilient : For an entrepreneur, 99 things will go wrong before one thing goes right. Be prepared to face setbacks and never waste time over regret or remorse.
3. Networking is worth the time: Build a network, people are the key to everything, especially in a startup. From fundraising to hiring, to building any aspect of the business surrounding yourself with the right people is essential.
4. Patience is supremely important: Startups rarely have a smooth and easy path to success. Sometimes there’s a wait involved, and patience not frustration is what paves the way to success.
5. You must have an appetite to Learn: Managing a startup means having an insatiable need to learn and apply new knowledge and skills. It’s essential to grow as an individual and to take your business to new heights quickly.
Jean: Some of the biggest names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US whom you would love to have a private breakfast or lunch with, and why? He or she might see this. :-)
Warren Buffet is a truly inspirational figure for his business ethic, business sense and foresight into the world of business and investment in every area.
— Published on July 19, 2018