Jimmy Vaid had a rather unconventional start in the natural products industry, though starting his own brokerage firm was not a far cry from his accounting background.
While working for a family-run seafood company, he was asked to join them in their dream of launching a product into the natural and organic industry, though Vaid was inexperienced with natural foods. It turns out the move was a good one for him, as he was able to learn all the facets of the business ranging from research and development, production, packaging, marketing, sales, logistics and distribution.
Vaid counts himself lucky that his accounting background prepared him so well for his newfound experience in the natural products industry, giving him a solid foundation of knowledge that allowed him to grow to where he is today.
After getting started in the industry over 15 years ago, Vaid knows that everything he learned in the past brought him to the point he is at now, owning his own brand management company, which has recently celebrated its first year in business.
“Learning and growing over the past 15-plus years has allowed me to start this business with a level of experience in all functions, which was a major bonus. That is the reason I have been able to grow this business over its first year,” he says.
Vaid had wanted to start his own brokerage firm for years. When it got up and running, he took iLevel Management in a new direction by taking on a few clients at a time and doing it well.
“We have a view that you can’t be everything to everyone, so we only work with brands we believe in. Further, we aren’t looking to take on multiple brands and overload our sales staff,” says Vaid.
If Vaid has any advice for someone entering this industry, it would be to stay agile. “Don’t be afraid of change and challenging the norm. Just because it has been done a certain way, that doesn’t mean you can’t improve on it,” he advises.
Vaid does not view other brokerages as competition in the natural products industry, instead choosing to band together to win customers from the more mainstream channels.
“We try not to get caught up in the competition side of things. We are still a small industry with lots of room to grow,” he says. “It is better for us to focus on growing as a whole and taking our market share from the conventional side, versus trying to split the small piece we share.”
Vaid’s thoughts on regulations are pragmatic and his company works hard to adhere to them. “Although they are tough, they are needed and it helps to keep companies honest. To understand them fully we usually work with consultants that specialize in regulations,” he says. “This relates to what makes us different. We know what we know and when we don’t, we use people that do. There is no point in spinning your tires.”
Vaid notes that it is very important to keep informed about what is happening outside of the business. “As the marketplace shifts, we look at how we can shift and be in a position to capitalize on it rather than being a step behind. That is one of the reasons we are launching a new customized customer relations management tool,” he says.
When asked why so many people who are unfamiliar with the natural products industry are getting more involved in it, Vaid believes that since the industry is growing, people from the outside must be brought in to accommodate that growth, and those new additions may have a different set of skills than those in the industry are used to. Since the industry is growing as a whole, the major players are taking notice and have realized that to stay relevant, they must be involved, since natural and organics seem to be here to stay.
“With them getting involved, it is a bit of a double edged sword. On one hand, there is an influx of players and the industry grows, yet you also have the influx of people and corporations that sometimes don’t understand that our industry has a lot of nuances that you can’t just sweep away,” says Vaid. “These big players are also able to bring in new products that are innovative and help bring the costs down (as they get great economies of scale), which for the consumers is great as it makes the products affordable. That in turn helps the industry continue to grow, thus allowing our retailers to flourish with increased sales.”
Vaid is not worried about those new additions, however. “It’s a cycle that is great and that is where brokers like iLevel Management help, as we understand the industry and can help bridge the gaps. (https://thecenturionreport.com) ”
