Saturday, April 18, 2015

Entrepreneurs - Australia's Newest Watch Company

I'm a great admirer of entrepreneurs because these people put their money on the line to back up their ideas. They take a risk unlike many of us (myself included) who stick to comfortable, salaried positions with little risk.

People such as Valerie Khoo who has built a successful Australian Writers Centre based upon her professional skills in journalism. Others like Nick and Giles English who set up the Bremont Chronometer company in England.

And now, in Australia we have a new watch company called Haigh & Hastings. If I'm right, this is the third of Australia's watch companies, launching it's first watch in January, 2014.

Given the dozens of companies manufacturing watches and the thousands of watches on the market, it's probably true to say that anyone starting up a watch company faces a higher than average risk of failure. After all, how many wrist watches does the normal Tom, Mary or Marsha have?

At present, I have five. How many do you have?

Of course, one of the things that entrepreneurs have is the ability to identify niche markets. Valerie did that by providing courses in writing that were apparently unavailable elsewhere.

Nick and Giles created a watch company with a difference; their watches are made from scrap metals of airplanes, mechanical encryption devices, and they also have a watch that is sold only to those who have been fortunate enough to use a Martin-Baker ejection seat and survive.

Some of their watches partner with firms like Boeing and Jaguar. This is their unique selling proposition  (USP) that sets them aside from other watch manufacturers.

Haigh & Hastings' USP seems to be evolving as that of producing commemorative and special event watches. At present, their main focus seems to be on the Gallipoli Centenary Special Edition watch which is an excellent collector's product at a very good price.

It's also timely as the ANZAC (Australian New Zealand Army Corps) memorial events occur on 25 April annually and this year is the centenary year. What's that about having the right product at the right place, time and price?

Haigh & Hastings also has a Duke of Wellington Limited Edition and is producing a special edition watch for the Australian Army's Special Air Services jubilee.

All watches at present seem to be based on what they call their M2 Diver watch which is automatic,

At the price points Haigh & Hastings has set for the current products, my guess is that they will do well.

Entrepreneurs keep our economy throbbing and without them and the risks they are prepared to take promoting their businesses, we'd all be much worse off.

What entrepreneurs do you admire? Comment and tell us who you believe are the top entrepreneurs in your area.


1 comment:

  1. We love gold and jewellery, but we are also big fans of watches too, especially those from top brands such as Tag
    Sell Watches Sydney


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