In Good Companies Broad River Retail: An Overnight Success, 20 Years in the Making
As a company, how long does it take to make it? The U.S. Bureau of Labor reports that 20% of companies go bust in their first two years. What’s more, only one-fifth make it past their 15th anniversary. But on In Good Companies, we’re hopeful. That’s why in this episode, we talk to Charlie Malouf, a leader who has seen it all, and came out the other end crowned with success.
Charlie is the president and CEO of Broad River Retail, a home furnishings retailer and licensee of Ashley Stores. Over the past two decades, what was once a three-store licensee has become a fast-growing top 100 retailer, with 31 locations and more than 800 employees. As for Charlie, his innovative vision and his impact on the local community have made him one of Charlotte, North Carolina’s Most Admired CEOs.
In this episode, Charlie shows us that in business, trials and tribulations can still lead to a perfect moment. Together, we talk about taking strategic leaps of faith, reframing failure as a data point and using creative reinvention to your advantage. We unpack how a focus on human capital can carry your company through the toughest times, and you will see that with a powerful vision, you can break new ground and create abundance for everyone.
So tune in with Patrick and Charlie, to hear the tale of an overnight success, twenty years in the making.
Highlights:
● Introducing Broad River Retail (2:21)
● When Charlie joined Broad River: the story of a leap of faith (34:39)
● Risk-taking as an opportunity to learn (5:54)
● When a business breaks all of its bones (7:23)
● Creative Destruction 101 (9:11)
● Reframing failure as a data point (11:13)
● From “Human Resources” to “Human Capital” (13:01)
● Changing the rules of the retail industry (15:09)
● Restructuring during Covid-19 (17:00)
● Coming out of the pandemic with positive momentum (20:51)
● How Broad River Retail is doing today (22:37)
● A podcast in a podcast - introducing Stories from the River (25:14)
● The importance of sharing abundance with your community (28:40)
● Charlie’s proudest achievements (30:39)
Links:
● Cadence Bank Website
● Cadence Bank Twitter
● Cadence Bank LinkedIn
● Charlie Malouf LinkedIn
● Charlie Malouf Twitter
● Broad River Retail Website
● Broad River Retail LinkedIn
● Broad River Retail Podcast - "Stories from the River"
● Statistics - “Why Young Businesses Fail”
If you have questions about the show or topics you'd like discussed in future episodes, email our producers, Natalie.Barron@cadencebank.com, Eydie.Pengelly@cadencebank.com, or danielle.kernell@cadencebank.com.