26 November 2024

Summary

In this interview, ISL Krisa Mulono, a jewelry business owner, shares the journey of her family's business, founded in 1985 and revived in the 2000s after a brief hiatus due to the 1998 economic crisis. She highlights the challenges of competition and sales issues, while emphasizing the strengths of the business, including a strong reputation, high-quality products, and excellent customer service. Krisa offers valuable advice for aspiring entrepreneurs, stressing the importance of determination and resilience in overcoming obstacles and building a successful business.

Takeaways

• 😀 The business was established in the 1980s, initially by the owner's in-laws, and resumed in the early 2000s after a brief pause during a financial crisis.
• 😀 The jewelry business started with zero capital, relying on the family's reputation and trust to attract customers.
• 😀 The business is a family affair, involving the owner, their spouse, and their parents in its daily operations.
• 😀 The business has faced competition as a major challenge but focuses on maintaining healthy competition rather than being overtaken.
• 😀 One major challenge is inconsistent product availability, as sales representatives sometimes fail to provide stock when needed.
• 😀 The business differentiates itself from competitors by emphasizing product quality and excellent customer service.
• 😀 Customers trust the brand because of its long-standing reputation and the high-quality products it offers.
• 😀 The owner provides feedback on a room fragrance product, stating it works well in small spaces but less effectively in larger rooms.
• 😀 The owner recommends that new business owners focus on having a strong will and perseverance, especially during tough times.
• 😀 Resilience and determination are key to overcoming challenges in business, as highlighted in the owner's advice to beginners.
• 😀 The business has managed to survive and thrive despite challenges, due to its focus on customer satisfaction and maintaining a strong brand identity.

Q & A

How did the jewelry business that ISL Krisa Mulono runs come into existence?

The jewelry business was founded in the 1980s by ISL Krisa Mulono's in-laws. After facing setbacks during the 1998 economic crisis, the business resumed in the 2000s. Initially, the business had zero capital, and it was supported by ISL's family, including her husband and parents.

What were some of the initial challenges ISL Krisa Mulono faced when starting the jewelry business?

One of the main challenges in starting the jewelry business was having zero capital. Despite this, the family leveraged their established reputation to attract customers. They also had to deal with economic setbacks during the crisis.

What is the role of the family in ISL Krisa Mulono's business?

ISL's business was a family effort, with her husband, parents, and in-laws being involved from the start. This collaboration helped the business get off the ground, despite starting with no capital.

What sets ISL Krisa Mulono’s jewelry store apart from others in the market?

ISL's jewelry store stands out due to its strong reputation, high-quality products, and exceptional customer service. Customers trust the brand, which results in repeat business and loyal clientele.

What are some of the challenges ISL Krisa Mulono currently faces in the business?

Currently, ISL Krisa Mulono faces challenges from competition and issues with stock availability due to sales staff not always having the necessary items on hand. These issues sometimes disrupt the customer experience.

What are the key factors that contributed to the success of ISL Krisa Mulono's jewelry business?

The success of the jewelry business can be attributed to its long-established reputation, commitment to high-quality products, and excellent customer service, which together build customer loyalty and trust.

How does ISL Krisa Mulono view competition in the jewelry industry?

ISL Krisa Mulono sees competition as a natural part of business but emphasizes that healthy competition is manageable. She focuses on maintaining quality and service to stay ahead of competitors.

What business advice did ISL Krisa Mulono give to aspiring entrepreneurs?

ISL Krisa Mulono advises aspiring entrepreneurs to have strong determination (niat) and to be resilient. She stresses the importance of staying persistent and enduring hardships in order to build a successful business.

Can you share any insights about ISL Krisa Mulono's favorite product from the home fragrance line she tried?

ISL Krisa Mulono shared that she particularly likes the 'Romania' fragrance. She mentioned that when used in smaller spaces, the fragrance is quite effective, and a few drops can fill the room with a pleasant scent.

What did ISL Krisa Mulono think about the effectiveness of the home fragrance product she reviewed?

ISL Krisa Mulono commented that the home fragrance worked well in small spaces, where just 10 drops were enough to create a pleasant aroma. However, in larger spaces, the fragrance might not be as strong.