Brent Gensler: Turning a Problem into a Business
Brent Gensler had a huge dilemma when he moved in to his new apartment: he found out that furnishing his living space would create a hole in his pocket. And that's how the idea of DefySupply came to light.
Stored for Future Use
Gensler's multi-million business did not just come about. In fact, the seed of his marketing strategy was planted way before he thought of it.
When he was in college, Gensler travelled to China to look for upholstery fabric to be used for their family business. Alongside his tours of different manufacturers, he also got interested with furniture through his many contacts in the fabric business.
He didn't start anything related to furniture - until that fateful day when he was moving in to his new apartment.
Breaking the Established Trade Mold
Gensler could not believe how expensive furniture sets are being sold. He knew from his experience that these household items are manufactured at a lot less cost than they were being sold.
So what's driving the furniture price up?
From the manufacturer, a piece of furniture will pass through several middlemen, each one upping the price to make a profit. By the time it reaches the customer, the price has quadrupled.
His business idea was born out of that reality: create a channel between the manufacturer and the consumer and leave the middleman out. The result was DefySupply.
Preparing the Grounds for Business
Gensler put a lot of work before he launched his business. There were tons of information he needed to know like logistics, currency exchange, packaging, and everything related to importing materials. Not only that, he also need to contend with language and cultural barriers and the challenge of ensuring quality.
To be able to provide customers with the best furniture at the most affordable price, Gensler overcame those difficulties. He started with home furniture and now the business has grown to supplying offices, businesses, schools, and any establishment that needs furniture.