Raine Mahdi is the Founder of the B2B product sourcing platform, ZIPFOX. He shares mind-shifting ideas on leadership, culture, and the future of the global community.
Subscribe
Guest Resources
Zipfox -The World’s Best Factories, at Your Fingertips.
Raine’s Email – Email Raine directly!
3 Value Bombs
1) When you do a great job, ask for a review. Within months, you’ll be the number one in your area.
2) Faster shipping times are great. There’s less strain on your cash flow, which means you can turn your cash into goods and back into cash more times throughout the year.
3) People should find reasons to be happy. Do things that matter to you.
Sponsors
HubSpot: Learn how to grow better by connecting your people, your customers, and your business at HubSpot.com!
ZipRecruiter: Find the right employees for your workplace with ZipRecruiter, the #1 rated hiring site in the US, based on G2 ratings! Try it for free at ZipRecruiter.com/fire!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: How Zipfox Solved the Supply Chain and the Trade War by Connecting US Buyers to Mexican Factories.
[1:05] – Raine shares something that he believes about becoming successful that most people disagree with.
- People think that success is more complicated than it really is. You need to find something that people need, and that you can do better, easier, or cheaper. It can be as simple as offering a better service.
[3:16] – The moment Raine knew that he had to build a global product sourcing platform.
- He knew at the age of 6 that one day he would start a product sourcing marketplace.
- He knows what it feels like to be scrolling through Alibaba, nervous about getting ripped off, but you want to save money.
- There needed to be safer way. It didn’t have to be that complicated.
[5:29] – Why people are moving production away from China.
- One reason is the shipping times. We are operating currently in a “just in time” economy, and it just doesn’t work.
- Currently, shipping times from China average around 30-60 days, and that doesn’t include manufacturing time.
- With the trade war, everybody’s paying 25% import taxes for everything they bring in.
- Regarding Russia’s situation, China’s trying their hardest not to pick a side, because there are ramifications either way they go
[8:58] – Unexpected advantages of sourcing products from Mexico.
- Faster shipping times are great. There’s less strain on your cash flow, which means you can turn your cash into goods and back into cash more times throughout the year.
- You won’t be able to capitalize on a certain trend if you don’t have faster shipping times.
- There’s a free trade agreement, so you won’t need to pay for any trade war tariffs, or worry about political tension.
- Mexico has a great skilled labor force. Already, they are the second largest supplier to the US behind China.
- Mexico is on the same time zone as the US. Being on the same time zone as your manufacturer is huge because you can get things done quickly
[13:18] – A timeout to thank our sponsors, HubSpot and ZipRecruiter!
[15:46] – The difference between Zipfox and Alibaba.
- Alibaba operates on a subscription model. The sellers are subscribers, and they pay a high annual fee to sell on the platform. What the model does is that it incentivizes them to sign up as many people, and not care about the quality.
- Zipfox makes a small commission on every transaction. They are incentivized to create an environment where more orders happen.
- Alibaba doesn’t have any payment protection. Zipfox use an escrow system wherein when you pay, they hold the money until you get your stuff.
- Zipfox only allows verified manufacturers. You’ll only deal with truly established professionals, and every single seller on Zipfox is invited.
[22:44] – What Raine is hoping to accomplish with Zipfox
- One of Zipfox’s objective is connecting US buyers and Mexican manufacturers, and eventually become the world’s first global marketplace.
- Zipfox aims to create jobs in developing nations and countries that really need those jobs and the economic opportunities.
[24:55] – Raine’s key takeaway and call to action for Fire Nation!
- People should find a reason to be happy. Do things that matter to you.
- Zipfox -The World’s Best Factories, at Your Fingertips.
- Raine’s Email. – Email Raine directly!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
Subscribe
