Jordan Nathan | Caraway
JORDAN NATHAN
Founder & CEO of Caraway, a company that crafts well-designed, safe-to-use ceramic coated cookware that raises the standards of what you cook with.
What Is Caraway? Tell Us About Your Brand And Mission Statement.
Caraway is a thoughtfully-designed, non-toxic, eco-friendly cookware brand on a mission to raise the standards of what we cook with.
While many of us are aware of the chemicals in our foods, the harmful chemicals hiding in our cookware is a long overdue conversation. We discovered a solution in ceramic coating that makes cookware non-toxic, non-stick and also releases less CO2 into the air.
Additionally, while 99% of cookware products in the market today use off-the-shelf stock designs from existing catalogs, we wanted to take a more innovative and creative design approach that is entirely bespoke. Each individual component of Caraway’s cookware (pan bodies, pan lids, handles, ceramic coating, packaging, etc.) was designed from scratch and sourced from the most optimal and efficient factories in the world.
What Is Your Background? What Led You To Starting Your Own Company, And How Did You Choose This Space?
I was previously the CEO for Vremi (owned by Mohawk Group), a home and kitchen brand where I launched over 200 kitchen products. I was initially drawn to creating my own brand by the lack of color and design in the cookware category, and after experiencing the harmful effects of Teflon-poisoning firsthand. In early 2018, I accidentally left a Teflon-coated pan on my burner for close to 45 minutes when I received a call that distracted me from cooking. Within that time, my apartment was filled with fumes and I felt light headed and nauseous. To be safe, I called the poison control hotline where I was informed I was likely exposed to Teflon poisoning. It was shocking to discover an item I used every night and touched my food was potentially dangerous and toxic.
This led to me searching for non-toxic cookware that was safe to use in my home. Upon further research, I noticed that PTFE (Teflon) coatings make up the majority of products on the market. The only major non-toxic material alternative–ceramic–had been on the market for about a decade now but is still not widely adopted in many consumer kitchens. And even from the few ceramic options I could find, everything was low quality, and nothing was aesthetically something I would want to purchase. Not to mention, several of these ceramic options actually contain trace amounts of PTFE but still marketed as free of toxins & safe. I used these insights to inform what is now Caraway cookware: products that are completely safe, easy-to-use, and well-designed.
What Have Been Both Your Favorite And Least-liked Parts Of Your Entrepreneurial Journey? What Have Been Your Most Challenging And Most Exciting Moments For You And The Company?
Favorite: I love that no week is ever the same and there are new challenges to solve every single day. I wake up expecting my day to go one way, and then all of a sudden I have to adapt to sudden changes. I find the pressure to quickly identify creative solutions to challenges fun!
Least Favorite: Fundraising is not my personal favorite task, as it takes time and attention away from building your business, but it is a core function of the founder role.
Most Challenging: Prioritization is always challenging for any early startup. When you are early in your trajectory, there is endless opportunity ahead of you. With a small team and limited resources, it’s crucial to learn to focus on the tasks that relate to survival vs. the larger picture.
Most Exciting: Every new product launch (physical or digital) is always incredibly rewarding. They take months for the team to prepare for and it’s always exciting to see the positive response from customers on new initiatives.
What Was The Fundraising Process Like For You? Tell Us About Your Investors And What You Use The Money You’ve Raised For.
To date, we’ve raised $5.3M from more than 100 investors which has been used to build and design the product, and fund Caraway’s inventory, team, and marketing needs. We have taken an untraditional route for fundraising—bringing on a large group of investors vs. a smaller group of larger checks. While this route certainly takes more time to close a round, this crowd-sourced approach offers a vast network of highly-connected investors, placing Caraway one introduction away from virtually any company we are interested in speaking with.
What Are Your Daily Routines? Walk Us Through Your Typical Workday Schedule.
I wouldn’t say I have a typical day, but I begin around 8:15 AM and start with emails. I usually do a Zoom coffee with another entrepreneur at 9 AM to share learnings. Most days I have 4-5 calls, and in between I am answering emails and completing any projects. I also work on the weekends when I get some peace and quiet from the normal work day to focus on larger initiatives and talk with our company advisors. I make sure I shut my laptop by 6–6:30 PM each night to exercise, eat dinner, and spend time with my wife. I am usually back online by 9 PM each night to speak with our manufacturing partners overseas. My days are pretty regimented but nothing makes my day more than a good cup of coffee!
What Is The Secret-Sauce To Building A Successful DTC Brand Online In 2021?
Since day one, we have built our company culture and structure around sustainable growth. What that means is being first-purchase profitable and leveraging our cash flow as our primary source of funding. This financial rigor is crucial to our success as it negates the need to be reliant on outside capital and focuses our team just as much on growth as cutting costs.
What Are The Most Important Skills A Modern Day Entrepreneur Needs In Order To Be Successful? What Advice Do You Have For Entrepreneurs Who Are Just Starting Out?
1. Be your own CFO – Too many entrepreneurs ignore margins and cash flow in the early days and it comes with a harsh reckoning a few years into the business when they start to focus on profitability vs. growth. Cash flow management and positive unit economics should be your greatest growth lever.
2. Resourcefulness – The best entrepreneurs can find a solution to any problem even if they are not an expert in that subject area and know when to ask for help.
3. Resilience – Every single day as a founder you get beaten down and rejected across the business. Each day is a rollercoaster but those who don’t let failure or rejection take them down will see success.
Advice: Surround yourself with great advisors, especially in the areas you are weakest in. It’s important to have great advisors in place to help you problem solve and think through strategic initiatives with.
Tell Us A Story Of Something That Happened To You, Something You Heard, Or Something You Saw, That Either Made You Laugh Or Taught You An Important Lesson.
“Growth at all costs” culture was a major framework within my prior professional experience. While it's fun & lucrative in the early days, I’ve benefited by helping pivot companies to focus on strong unit economics in my earlier years. For this reason, sustainable growth is such a large piece of how we have built Caraway to where it is today.
If You Can Have A One-Hour Meeting With Someone Famous Who Is Alive, Who Would It Be And Why?
Yvonne Chouinard, Founder of Patagonia. Patagonia is a company we look up at at Caraway and has inspired us on how to build our internal team and culture, and how to build a mission driven brand.
What Does Success Mean To You?
Success for Caraway is getting non-toxic kitchenware and home goods into as many homes as possible. Whether customers buy Caraway or a competitor using similar materials, we hope we inspire consumers to want to live a healthier lifestyle and focus more of their attention on what they are cooking with.
