Business
After a successful 19-year career in the clothing business, Michael Coles tested his entrepreneurial skills in 1977, when he co-founded Great American Cookie Company with an investment of only $8,000. When he started the Great American Cookie Company, there were three major cookie companies in business. One had almost 100 stores and the other two had 50 each. When he sold the company in 1998 with sales over $100 million, the Great American Cookie Company was the largest franchisor of cookie stores with the other companies having already closed down. He is now a transformational leader and the author of Time to Get Tough. Let’s dive in and hear more from Michael how he created the $100 Million Cookie Company. Things you will learn in this episode: [00:01 - 06:42] Opening Segment I introduce today’s guest, Michael ColesBio Make sure to check out guestio.com Michael gives us some background on her storyGrowing up in Buffalo, NY Going through bankruptcy as a family Deciding to set out and start working at 13 School life [06:43 - 19:16] The $100 Million Cookie Company Michael talks about his social circles and work life growing up The impact of his mentor Michael shares about his life after high school Moving in with his brother Getting into collegeEncouraged to work first before college The job that propelled Michael forwardManaging a rough territory in a clothing business Growing accounts for almost 3 years Setting out into Detroit Michael’s journey into the cookie industry A word from our sponsors [19:17 - 28:46] Time to Get ToughMichael shares how his accident set up the rest of his life Being told your limits Beginning to get his life backLessons from setting records in biking Learning about business We learn more from our mistakes The story behind Caribou CoffeeCreating loyalty Making decisions as the CEO Getting held back by ‘good’[28:47 - 36:30] Closing SegmentWho you know or what you know Learn what you don’t know Surround yourself with the right people Michael’s advice around mentorship and coaching ThE RaNDoM RoUnDHow to engage with MichaelLinks below Final words Tweetable Quotes: “You just don’t realize the impact you might have on somebody’s life.” - Michael Coles“You got two choices: you can just give up, or you can say, ‘I’m going to finish this, I’m going to learn from it so I can move on so I don’t make the same mistakes…” - Michael ColesResources Mentioned: Time to Get ToughCaribou CoffeeExecutionThe ReckoningConnect and engage with Michael on LinkedIn. Check out https://michaelcoles.com/ and secure your key to success.Did you love the value that we are putting out in the show? LEAVE A REVIEW and tell us what you think about the episode so we can continue putting out great content just for you! Share this episode and help someone who wants to connect with world-class people. Jump on over to travischappell.com/makemypodcast and let my team make you your very own show!If you want to learn how to build YOUR network, check out my website travischappell.com. You can connect with me on Facebook, Instagram, and Twitter. Be sure to join The Lounge to become part of the community that’s setting up REAL relationships that add value and create investments.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy