In this episode, Charlie continues his conversation with Jonathan Ishee, his former business partner and one of Broad River's original co-founders.
You will learn of the first time the company changed its identity to Broad River, becoming Broad River Furniture. Charlie and Jonathan discuss how the company survived a pivotal point of its history during the Great Recession by maintaining a specific and strategic growth mindset.
This new strategy began by delivering to remote markets for the first time when Ashley Furniture deployed its Good Samaritan Fund and called on them to assist its customers its surrounding, outer markets. Offering to assist planted the seed for a new idea to leverage their centralized operations and ultimately unlocked a way to strategically grow during the Great Recession.
Lengthening their runway and dollar cost averaging their portfolio of store leases allowed them to add stability to the Company by growing through the opening of new stores in new markets. Leveraging the power of their core value of collaboration - through humility the best decisions were made together - served them well during this era.
This episode is a great reminder that sometimes the right strategy during challenging economic times is one where you focus on staying in the game, which will typically refine a Company’s grit and identity and set it up to grow and thrive through any season.
This episode on YouTube: https://youtu.be/WdlqZ0-v4oc
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