Torgny Persson is the CEO of BullionStar. Torgny is a thought leader, influencer, visionary, and successful entrepreneur. Torgny provides the leadership and energy that has inspired the creation of BullionStar. Torgny Persson joins other leading CEOs and Founders taking part in our Leader Roundtable Interview Series. The DotCom Magazine editorial team has recently awarded BullionStar with our Impact Company of 2019 award. We are delighted to have Torgny join us for our Leader Roundtable Interview, and our popular “speed round” as well.
Torgny, thank you so much for taking the time out of your busy day for this interview about your company, leadership, and entrepreneurship.
1. What is the “elevator pitch” for BullionStar?
People have invested and saved in physical gold & silver for thousands of years. Gold & silver bullion are the ultimate inflation hedge, safe haven, and insurance policy against an increasingly fragile financial and monetary system.
At BullionStar, we strive to make investing in bullion easy, from anywhere in the world. Our customers are surprised of how easy it is to buy investment precious metals from us. You put your desired bullion items in the shopping cart, go to the one-page checkout and place your order after which you can control all your holdings online. Or you choose to visit us in our unique bullion center in Singapore encompassing a shop and showroom with a huge range of precious metals products and a state of the art bullion vault. With its security and tax exemption for bullion, Singapore is the best place in the world in which to buy and store bullion.
2. What is the key to your company’s success?
We do most everything ourselves relying on our own hard work rather than on third parties. We have built our own online platform from scratch. We work passionately until we get things done and we don’t stop.
The combination of physical accessibility and online usability sets us apart. We continue to introduce modern technology into our age-old industry. At the same time, we answer our phones ourselves and welcome you to come into our bullion center for personal service.
We also offer a huge range of products at competitive prices with a price guarantee. We are a one stop shop where you can buy, sell, store, deposit, withdraw and audit your bullion. If you store with us, you can withdraw your bullion by just showing up at our bullion center. It’s simple, easy, quick and reassuring and BullionStar is your only counter party.
3. Many of our readers are just starting to build a company. What advice can you give entrepreneurs just starting out with a new venture?
Build your company around something you love. Focus on your vision and the journey, stay positive, make decisions and trust those decisions. Go the distance by taking one step at the time. Shortcuts impair quality. Your visionary idea of the outcome matters less than the next concrete step you have to take towards achieving that vision.
4. For other entrepreneurs seeking to build a business as successful as yours, what advice can you give them when times get a little challenging?
Shorten your timeframe. Instead of thinking 6 or 12 months ahead, think about what you need to do the next day or the next hour. Priortise after importance, not urgency. Turn off your mobile phone.
5. How important is the commitment to client satisfaction at BullionStar , and how do you make sure your customers will become raving fans of your company?
We sell gold and silver as investment and savings because we believe gold and silver is money in the true sense, when governments and central banks don’t interfere with the monetary system. With us founders and most staff members of BullionStar sharing a similar belief system as to our customers, our customers are our friends and are strong grassroots supporters of our company. Innovation is also key, and we make it easy for our customers to transact in and store bullion.
6. In today’s fast changing business environment, how do you stay abreast of things?
By taking the latest news and rumors with a pinch of salt until proven significant. We don’t have to be first in all areas. Those that are first often fail. When we decide to do something, we do it in a robust fashion iterating until we get it right regardless of how long it takes. Having a long-term focus building the company organically step by step is essential for us. We also listen to our customers and talk to our suppliers.
7. What is your “Why”? Why do you get up in the morning, and how do you keep yourself at peak performance to lead BullionStar ?
Aligning objectives between management and staff members is key.
8. Can you recommend a book that has had an influence in your career? How did it influence you?
The 4-hour Workweek by Tim Ferris. The idea in the book is to be able to run or govern a company working only four hours a week by becoming more efficient. If the approaches in the book are applied to a 40 hour or 60 hour work week, they become powerful by a leveraged magnitude. 1) Eliminate unnecessary tasks, processes or routines. 2) If it cannot be eliminated, can it be automated? 3) If it cannot be automated, can it be delegated? 4) If it cannot be delegated, how can it be approached in an efficient manner without procrastination?
9. When communicating with your staff, can you tell us the most important thing you do so that they are able to carry out the objectives that you set forth at BullionStar ?
Dealing in bullion is a precise business. Being right 99.9% of the time lead to disaster. There’s no room for mistakes. Clear and precise communication is fundamental because mistakes are costly. My personal style is no-nonsense communication cutting out the fluff and conveying what I believe is important. It’s not a style that suits everyone but I’m for some, not for everyone. We go our own ways and there’s a certain contentedness in sometimes navigating against conventional mainstream ideas.
10. Can you explain what leadership means to you?
You have got to start to lead your own self before you can lead anyone else. If you have decided to go to the gym, you go to the gym. If you have decided not to eat candy, you don’t eat candy. By taking responsibility in your own life, learning how to handle your own self, there may just be room one day to eventually mentor others.
We would like to have some fun and do a “speed round” with you! We will ask you ten more questions that we want you to answer in just one to three words only. Here you go!
1. In three words or less, what makes a successful CEO?
2. Describe your business in one word?
3. Describe your customers in one word?
4. What one attribute do you look for when hiring an employee?
5. What is the one word you want your customers to say about your company?
6. In three words or less, describe your passion?
Gold is Money
7. In three words or less, describe what it takes to be successful?
Conscientious – Guts – Unfazed
8. In three words or less, describe your first year in business at BullionStar ?
9. In three words or less, describe how running a successful company has changed you?
Increased fragility awareness
10. What is the one word that you believe has the most power in the English language?
Torgny Persson, thank you so much for sitting down with us for our DotCom Magazine Leader Roundtable Interview Series. We very much appreciate the time you spent helping our readers learn more about what it takes to be a leader. We wish you, your family, and of course BullionStar , nothing but the best. Thanks again!