In this episode of The New Warehouse Podcast, Kevin speaks with Yong-Soo Chung, Founder and CEO of First Class Founders and GrowthJet, and more. The episode provides insights into Yong-Soo’s entrepreneurial journey, shedding light on his successful e-commerce ventures and innovative approach in the third-party logistics (3PL) sector. Be sure to tune into this informative and inspirational episode.
Stepping into E-Commerce
Yong-Soo Chung began his entrepreneurial path with Urban Everyday Carry (EDC), an e-commerce platform. He discusses the importance of aligning business with personal passion, revealing how this synergy drove the success of Urban EDC. Yong-Soo highlighted his interest in doing something manageable on his own, which was a good start for his first endeavor.
Pioneering a Sustainable 3PL
The inception of GrowthJet stemmed from Yong-Soo’s frustration with existing 3PL services. He adds, “Back then (2015), the standard was so low, I couldn’t reach anyone…and the last straw was when one of my customers received an empty box.” He aimed to establish a company prioritizing high service quality and sustainable practices. “The first thing I realized was there’s a lot of waste in the industry, and in a way, it’s inevitable.” His commitment to these values is evident in his statement: “We became climate neutral certified… it became an advantage because people were like, ‘This 3PL cares about other things aside from the bottom line.’”
Entrepreneurial Challenges
Yong-Soo shares his challenges, such as choosing the right business partners and scaling his operations. He often found that they would start talking to a brand and find out they were not the right fit. He emphasizes that GrowthJet, a boutique 3PL, focuses on delivering the highest quality and service level rather than competing on price. “The best clients for us are the ones that have experienced the other end of the spectrum where it’s cheap but also a nightmare.”
Key Takeaways
- Aligning personal passion with business ventures: Yong-Soo Chung’s success with Urban EDC demonstrates the importance of integrating personal interests into business, especially in the initial stages of entrepreneurship.
- Commitment to sustainability in 3PL: GrowthJet’s focus on high service quality and sustainable practices, including becoming climate neutral certified, sets it apart in the 3PL industry and reflects a deep understanding of industry challenges and customer needs.
- Overcoming business challenges through quality focus: GrowthJet’s approach to prioritizing quality service over competing on price addresses common pain points in the 3PL industry and aligns with clients seeking reliable, high-quality logistics solutions.
EP 453: Charting New Paths in E-Commerce and 3PL with Yong-Soo Chung
