Every business, big or small, is looking for an edge to grow. Startups are looking to blow up as fast as possible and entrepreneurs are always looking to expand their market. Seeing a company grow 2,662% over three years should be something we all take note of.
Chobani is a company that produces Greek yogurt. This superfast growing company is expanding almost daily. Building more production facilities here in the United States and creating new jobs all the time. Chobani is also gaining a reputation for its charitable work. So how did Chobani grow so much so fast?
Chobani is not the only Greek yogurt on the market but many of its competitors are marketed for a specific market, Chobani is marketed for everyone. Hamdi Ulukaya, Chobani's founder, made sure that Chobani was in regular grocery stores and was comparable to other non-Greek yogurts.
Ulukaya had a tangible good and was bringing a niche product to the masses. The business plan that Chobani follows has made it easy to grow and improves the perception of the company too. Chobani employs about 1600 people and all but a few hundred are in the United States. Ulukaya is also the only equity holder of the business. These factors allow Chobani to control its operations and make moves quickly.
Finding a market need for your product and being able to control and adjust your business on the go are factors that aid a business in growing. All too often entrepreneurs will ship operations overseas or will bring on investors. This means that it’s more difficult to control your business. The time and distance delay certain aspects and having to get others on board with you decisions can cause delays also. Also, innovation is always great but if there is no market for you innovation growth is going to be slow. Chobani’s huge jump is not the norm but these factors can help your West Michigan small business grow too.
Source: “5 Reasons Chobani Rules” by Kimberly Weisul of Inc.com