Do things differently, don’t follow the path. The trailblazers in every field, whether politics, art, music, science, technology forge their own path.
Master craftsman and jewelry expert, Moti Ferder, founder of Lugano Diamonds, has unparalleled insight into the diamond and jewelry industries. This knowledge contributed to his success in establishing Lugano Diamonds as one of the finest jewelers in the world.
Traveling extensively, Moti Ferder oversees Lugano Diamonds’ operations around the world, studying the global markets to pursue the finest resources and to develop effective branding campaigns. He is the primary liaison between Lugano Diamonds and international gemological laboratories, and is the company’s leading authority onevaluating inventory, grading stones, appraising jewelry and finding the correct marketing channel for each piece.
Moti Ferder serves as a board member for the American Film Festival and the Segerstrom Center for the Arts in Orange County, is deeply involved in the philanthropic community. Lugano Diamonds supports a variety of nonprofit causes, organizations and events including the Mission Hospital Foundation, CASA for Children, Juvenile Diabetes Research Foundation, United Way, and The Center for Autism and Neurodevelopmental Disorders, among many others.
Where did the idea for Lugano Diaminds come from?
The idea for Lugano Diamonds solved by solving a universal problem people have with our industry. Jewelry shopping is not a pleasant experience.
What does your typical day look like and how do you make it productive?
I touch all elements of our business, design, sales, marketing, finance and production. I make every day productive by being decisive.
How do you bring ideas to life?
I bring new ideas to life through reverse engineering. I like to disassemble something and
analyze its components and workings in detail, it is part of my creative process.
What’s one trend that really excites you?
I am most excited about expanding community involvement and philanthropy.
What is one habit of yours that makes you more productive as an entrepreneur?
Vertical integration makes me more productive as an entrepreneur and our company the envy of our peers and competitors, we have a great deal of control over our process — from planning and design, casting, stone setting, polishing, marketing and sales.
If you were to start again, what would you do differently?
I don’t think I would do anything differently, each of my experiences was educational and transformational for my business.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
The client is always right, no ifs, ands or buts. It is a mantra of service and a business philosophy underlying all of our interactions with our clients.
What is one strategy that has helped you grow your business? Please explain how.
Do things differently, don’t follow the path. The trailblazers in every field, whether politics, art, music, science, technology forge their own path.
What is one failure you had as an entrepreneur, and how did you overcome it?
I learned a lot from an account that didn’t pay. It wasn’t a failure, but it was a loss. I made a conscious decision to work only with good people. I learned there are two kinds of people, those you can trust who you need to hold close because they mean the world to you and those you can’t trust, even in the smallest way – don’t walk through that door.
What is the best $100 you recently spent? What and why?
I bought my wife a Valentine’s Day gift – because she is the best wife anyone could ask for!
What software and web services do you use? What do you love about them?
My favorite technology right now is the Lugano app.
What is the one book that you recommend our community should read and why?
Thank You for Being Late: An Optimist’s Guide to Thriving in the Age of Accelerations. It is a book about what the future holds. In an uncertain world, there is a lot to be positive about.
What people have influenced your thinking and might be of interest to others?
I am a huge fan of Warren Buffett. He is a practical, thoughtful, generous business leader with a strong moral and ethical compass. He is also a teacher and he has the humility to recognize and acknowledge his failures and shortcomings.
Connect
Moti Ferder on Twitter: @ferder_moti
Moti Ferder on Facebook:
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Moti Ferder on YouTube:
Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.