Assignment 9

Summary

In this engaging conversation, Ryan Gray Smith, founder of Modern Shed, shares his journey from childhood fascination with building models to creating innovative backyard solutions. He reflects on the challenges of starting a business, emphasizing the importance of flexibility and collaboration in adapting to market changes. Scott, who handles sales and marketing, discusses how Modern Shed has thrived despite economic downturns, thanks to its nimble structure and strategic partnerships. Their approach focuses on small, functional designs, allowing for rapid product development in response to client needs, showcasing their commitment to creativity and adaptability in the architectural landscape.

Takeaways

• 😀 Ryan Gray Smith's early fascination with model trains and building set the foundation for his career in design and architecture.
• 🏠 The idea for Modern Shed originated from a client's request for a simple shed, illustrating the importance of understanding customer needs.
• 🔄 Flexibility and adaptability are crucial for business success; Modern Shed utilizes a lean organizational structure with independent contractors.
• 📉 The real estate downturn presented an opportunity for Modern Shed to thrive, demonstrating resilience in challenging markets.
• 🤝 Partnerships with fabricators like Eric Johnson enhance production capabilities and create synergies across the industry.
• 🛠️ Modern Shed's dealer network consists of independent contractors, allowing for efficient market penetration and communication.
• 📞 Regular communication with dealers ensures alignment on new products and promotions, fostering collaboration and growth.
• ✨ The ability to pivot quickly for new opportunities, such as creating product lines for home and garden experts, is a hallmark of Modern Shed's strategy.
• 📏 Starting with smaller projects provided the confidence to expand without compromising quality and functionality.
• 💡 Continuous learning and adaptation are essential; the journey of Modern Shed illustrates that success comes from experience and incremental growth.

Q & A

What was Ryan Gray Smith's earliest memory related to?

Ryan's earliest memory involves playing with a train board and small houses, which sparked his fascination with space and building design.

What prompted the creation of Modern Shed?

Modern Shed was conceived when a client suggested that they needed a shed in their backyard, leading Ryan to take their architectural work local and expand it into a sellable product.

How did Ryan and his team manage the variability in business demand?

Ryan emphasized the importance of finding people who could help with various tasks, rather than trying to manage all functions in-house, as business demand can fluctuate significantly.

What is the current size of the team at Modern Shed?

The team consists of about 12 to 14 people in Seattle, alongside around 12 sales reps and 35 dealers across the states.

What background did Scott have before joining Modern Shed?

Scott came from the real estate industry, which was heavily affected by market downturns, and he was seeking a new opportunity when he found Modern Shed.

What unique position does Modern Shed hold in the current market?

Modern Shed has positioned itself to be insulated from the downturn in the real estate market, which has allowed their sales to increase even when others are struggling.

How does Modern Shed's dealer network function?

The dealer network consists of independent contractors who represent complementary products, enabling them to take advantage of various markets without direct competition.

What flexibility does Modern Shed's organizational structure provide?

The nimble structure allows Ryan to quickly focus the team on new opportunities, such as developing a new product line in a short timeframe for a client.

What approach does Ryan take towards product development?

Ryan believes in starting with smaller structures and gaining comfort with the design before expanding to larger projects, to ensure understanding and control over the process.

What insights does Ryan share about organizational growth and adaptation?

Ryan acknowledges the challenges of growing an organization, emphasizing the importance of adapting to market changes and learning from experiences rather than claiming to have all the answers.