In 1999 I bought Jul’s diamond engagement ring from a jeweler named Thomas Broadwin in Palo Alto. He doesn’t have a storefront, just a small office. He works by appointment only. He offers very personal, one-on-one service. So personal that when he learned I had survived cancer he gave me me a ring with an embedded blue safire, symbolizing the tatooed blue dots on my chest from radiation treatment.

He has a very simple approach to selling jewelry and precious stones. You pay the price he paid, plus 10%. So when he finds amazing deals on diamonds, you get an amazing deals on diamonds. Simple. Easy. Transparent.

He could markup jewelry 40%-50% like most stores. He doesn’t have to tell his customers his cost. He could pocket the difference when he finds a good deal. He doesn’t need to give personal gifts. He isn’t maximizing profits.

Or is he?

You know how I heard about Thomas? A glowing reference. You know how many people I have refered that ended up buying engagement rings from him? Over twenty. How many people did they refer? How many more will I send? When I wanted to get something special for Jul this Christmas, where do you think I went?

Sometimes not maximizing profits, is maximizing profits.