The 10,000 hour rule, popularized by author Malcom Gladwell, states that it takes about that many hours of dedication in order to achieve mastery in a given task. Thinking innovatively about creating new business opportunities is helped by understanding as much as you can about that industry, the players, the way they interact, who has the power and what people want. With that kind of foundational knowledge, it’s much easier to see where and how you can completely flip an industry on its head. For Jeremy Cai, the founder of Italic, disrupting the traditional, set-in-stone manufacturing industry took some guts, creativity, and a deep knowledge gleaned through generational experience. Because of his mastery of the industry, he zeroed in on one key element of the supply chain that he was eager to eliminate.
“What if we could actually remove the biggest middleman by far in the supply chain (which is the brand)?” Cai states. “Brand offers a lot. I don't think there's going to be a world where we live without brands, but I do think there's a lot that they add that [is] just fluff and you're actually paying for a story versus the actual product.”
Italic says goodbye to the biggest middleman, the brand name. But that’s easier said than done. To achieve his goal of bringing high-quality goods directly to consumers, Jeremy had to tap into his insider’s knowledge about the way that the manufacturing business is structured in China and then get those traditional companies to take a leap of faith with him. They say you have to jump and grow wings on the way down when you take that leap. Jeremy’s wings are still growing, and each new lesson is just another feather helping him soar a little higher. Hear how he’s earning those feathers right here on The Journey.
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This season of the Journey is produced by Mission.org and brought to you by UPS. To learn how UPS can help your small business, go to UPS.com/pivot.