Entrepreneurs have unique David vs. Goliath success stories.
That was the takeaway from a panel held Thursday and sponsored by Crain's Business.
Quick-decision making and putting differentiation to good use, as well as spotting industry trends early, according to one panelist.
“We know who we are. We know who we aren’t,” said Eoin Comerford, president and CEO, Moosejaw Mountaineering. Comerford was one of three entrepreneurs who spoke on the panel at the Crain’s Salute to Entrepreneurs breakfast moderated by Daniel Duggan, managing editor of custom and special projects at Crain’s.
The event also recognized the six winners of the 2014 Crain’s Salute to Entrepreneurs awards. It was held at The Henry in Dearborn.
Crain's provided a recap online.
"Comerford said Moosejaw competes against larger retailers like REI by quirky marketing and niche products," according to the post. "For example, an online catalog available in app form generated a ton of buzz because an X-ray vision feature enabled viewers to see models wearing the Moosejaw clothing, or in their underwear."
Who else was on the panel?
Marc Gardner, founder, North American Bancard LLC and PayAnywhere LLC, said the Troy-based company differentiated itself from larger financial services companies by nimble decision-making. Unlike large organizations that are often paralyzed waiting for board decisions, Gardner said his company had access to capital and quick decision-making on its side when it launches its rollout to consumers.
PayAnywhere’s performance has exceeded expectations by all metrics, he said. North American Bancard is a processor of online and mobile credit card payments, processing $16 billion of transactions annually for more than 250,000 merchants nationwide.
The morning panel capped off the breakfast event that honored companies and individuals noteworthy for their innovation, problem-solving ability or sheer relentlessness.
Honored winners included:
- George Matick Chevrolet
- Prolim Global Corp
- Beyond Gaming LLC
- Michael Forsyth and Lori Allan (Revolve Detroit)
- Tekisha Lee (DiverseNote)
There's more to read and interesting insights about entrepreneurship here.