#104 Jared & Jordan Schmidt: How Two Brothers Disrupted The Cutlery Industry
In this candid conversation, Jordan and Jared Schmidt share the remarkable story of building Schmidt Brothers Cutlery from their father's basement workshop into a national brand found in over 10,000 retail stores. Their journey reveals invaluable insights about entrepreneurship and innovation:
The brothers discuss how their contrasting backgrounds – Jordan's philosophy degree and bartending experience paired with Jared's business education – created the perfect partnership for building their brand.
They reveal how the 2008 financial crisis inspired them to revolutionize the knife industry by making premium German steel knives affordable, challenging traditional industry assumptions about pricing and design.
The conversation explores their innovative approach to retail partnerships, including how their unique butcher shop-themed trade show booth caught the attention of Williams-Sonoma and led to their first major retail deal.
They share intimate details about their father's influence on the business, from his engineering expertise to his guiding philosophies of "sleep on it" for decision-making and "it is what it is" for handling setbacks.
The interview concludes with insights into how they've maintained a lean operation of just 30 employees while scaling nationwide, emphasizing their approach to hiring self-starters and maintaining quality across different market segments.
Key Topics & Timestamps
[00:00] - Introduction and family background
Father's immigration from Germany as a mechanic/engineer
Mother's restaurant family heritage
Learning craftsmanship in their father's basement workshop
[15:00] - Early careers and education
Jordan's unique path: Philosophy degree and bartending
Jared's business and supply chain background
How different backgrounds complemented their business
[30:00] - Starting Schmidt Brothers Cutlery
Impact of 2008 financial crisis
Developing first product line
Breakthrough at International Housewares Show
First partnership with West Elm
[45:00] - Building the Brand
Innovation in knife block design
Approach to different retail markets
Maintaining quality while scaling
Building a lean team
Quotes
"Sleep on it" - Their father's advice about patient decision-making "It is what it is" - Philosophy for handling business challenges "Never close doors behind you" - On maintaining professional relationships
Links
Schmidt Brothers Cutlery: https://schmidtbrothers.com