Detroit City Wire

The journey to business success is complex and requires more than just an entrepreneurial spirit. According to experienced business leaders, discipline, brand loyalty, and innovation are crucial for long-term success.

At the 2024 CO— 100 Small Business Forum, Barbara Thau from CO— engaged with a panel of executives on essential strategies for small business growth.

Farooq Kathwari, CEO of Ethan Allen, emphasized the importance of combining disciplined practices with entrepreneurship. "A lot of businesses are only disciplined [and] a lot of businesses are only entrepreneurs," he stated. "When you balance the two together, that gives [you] an opportunity to be around for 90 years." Ethan Allen's model integrates manufacturing and retail to deliver custom furniture competitively across the U.S., with 75% of products made in North America.

Simone Jordan from Shea Moisture highlighted staying true to brand values as key to growth. "What we have to understand — and we do understand — is to continue growing and scaling, we have to keep [the consumer’s needs] at the center of what we do," she explained. Despite changes in consumer needs, Shea Moisture remains focused on its core audience while operating under Unilever.

Nick Marsh from Founders Table Restaurant Group discussed scaling Chopt Creative Salad Co. by maintaining quality and innovation. "You can only scale something if it’s great," Marsh noted. Chopt distinguishes itself through unique menu collaborations, such as with NASCAR driver Jimmie Johnson. "People ask me, why is a NASCAR driver promoting Chopt? For two reasons...he happens to love Chopt."