686: Michael Coles | Re-Release of The $100 Million Cookie Company

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 Coles

Bio 

Make sure to check out guestio.com 

Michael gives us some background on her story

Growing 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 college

Encouraged to work first before college 

The job that propelled Michael forward

Managing 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 Tough

Michael shares how his accident set up the rest of his life 

Being told your limits 

Beginning to get his life back

Lessons from setting records in biking 

Learning about business 

We learn more from our mistakes 

The story behind Caribou Coffee

Creating loyalty 

Making decisions as the CEO 

Getting held back by ‘good’


[28:47 - 36:30] Closing Segment

Who 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 RoUnD

How to engage with Michael

Links 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 Coles
Resources Mentioned: 

Time to Get Tough

Caribou Coffee

Execution

The Reckoning

Connect and engage with Michael on LinkedIn. Check out https://michaelcoles.com/ and secure your key to success.
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