Ralf Wenzel (JOKR) on how to unlock value in grocery delivery and it's all about value chain integration
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On this episode Pat sits down with the one and only Ralf Wenzel, Founder & CEO of JOKR. We dive into his entrepreneurial journey from growing up in East Germany to his first entrepreneurial stint with Jamba, conquering Asia with Foodpanda and subsequently embarking onto LatAm with grocery delivery platform JOKR.?
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Crafting Success?
Ralf Wenzel's entrepreneurial journey spans various ventures and decades, from his early days in Germany with Jamba to his roles at Foodpanda, Delivery Hero, and of late JOKR, a leading Latin American e-commerce platform, operating as DAKI in Brazil.
What drives him to keep building companies even after being so successful?
"Building companies and structuring them, managing companies, going into different geographies, looking into different business models, changing them, adjusting them, has always been for me something like an art form."
Reflecting on his journey, Ralf compared entrepreneurship to an art form, emphasizing the joy and passion he finds in crafting and shaping businesses. He notes that the satisfaction and strength derived from building companies has been a key driver throughout his career.
"For every business that we've built... we're excited about changing things and impacting things and improving things... We like to take commodities, things that everyone needs, but improve the way how they're being executed."??
Ralf emphasizes the importance of refining the customer experience by leveraging technology to transform traditional industries. In the case of JOKR, the focus lies on grocery shopping, where enhancing each step of the value chain drives efficiency and customer satisfaction.
The Art of Team Building
Building successful companies requires assembling the right team. Ralf emphasizes the importance of collaboration and diversity in crafting a winning team.?
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"Many businesses are usually complex... It's impossible for one single person to capture, to understand, to drive, to analyze, to change, comprehend all of it together."
Just as artists collaborate to create masterpieces, entrepreneurs must bring together individuals with diverse expertise, knowledge, and personalities to drive success. He stresses that his?success is not just his own but a product of the talented teams he has built and nurtured over the years.
Unlocking Opportunities in Latin America
For Ralf, Latin America holds a special place in his entrepreneurial journey. His personal connections to the region, combined with his professional experiences, sparked his interest in its potential. From his teenage years living in Latin America to his time at Softbank investing in the region, Ralf gained a deep understanding of its opportunities and challenges.?
"Especially in Latin America, we always felt like with any business model that we were thinking of, there was excitement, there was faster adoption to a certain extent."
With JOKR, he aims to fill a gap in the market and provide a seamless online grocery experience tailored to the Latin American consumer.
Pioneering Change
Reflecting on his time at Softbank, Ralf acknowledges the role of pioneers in driving change and unlocking opportunities. Just as Rocket Internet paved the way for European internet ecosystems, Softbank played a pivotal role in catalyzing the growth of Latin America's tech scene. By investing significant capital and belief in the region, Softbank reshaped perceptions and sparked a wave of innovation and investment.
The Brazil Opportunity:
Brazil, with its sheer scale and unique market dynamics, presents a significant opportunity for businesses. Its vast consumer base and distinct consumer behavior make it a challenging yet rewarding market to conquer.
"Brazil is one of those markets... It's a very domestically appreciating market... And a lot of other successful companies in the Brazilian market are the ones that have built a truly Brazilian identity, experience, brand, setup, and team."
Ralf also highlights? the significance of localization in penetrating the Brazilian market. Success in Brazil often hinges on understanding and adapting to the unique cultural nuances, consumer behaviors, and infrastructure challenges specific to the region.
Customizing the Value Proposition
“It's the appreciation of the middle and small details that make suppliers work with you and appreciate you."?
Ralf explains that JOKR's success in Brazil stems from its dedication to customization and attention to detail. By adapting its brand communication, team culture, and operational processes to align with local preferences, JOKR fostered strong relationships with suppliers, advertisers, and customers.
Investing in Infrastructure
Building a robust infrastructure to control every aspect of the value chain was critical for JOKR's success.?
"...the key to success of our business is to become an incredibly proficient, efficient, scalable, and state-of-the-art supply chain type of company that is driven by technology."?
Despite the significant upfront investment required, Ralf highlights the long-term benefits of owning the supply chain, including improved customer experience and higher profitability.
Dive into the full episode on
?? Spotify
?? All others
Other episodes you might enjoy
Jacobo Singer (dLocal) on bringing their payment solutions to Africa, lessons on expansion and promoting talent from within
Luiz Ribeiro (General Atlantic) on the origins of GA, maneuvering bear market s, macro outlook & tips on going public
Gerry Giacomán (Clara) on always be changing, building compounding value and how to balance profitability and growth
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