Beyond 8 Figures $80M+ Exit – Michael Coles, Great American Cookie Company
About Michael Coles:
Michael Coles is a business expert, serial entrepreneur, and education advocate. He co-founded Great American Cookie Company and served as the former CEO of Caribou Coffee. From starting three businesses to setting transcontinental world cycling records and running for public office, Coles' journey is defined by true grit and perseverance.
In his captivating memoir, “Time to Get Tough: How Cookies, Coffee, and a Crash Led to Success in Business and Life,” Michael reflects on his life, recounting both failures and successes, and showcasing his personal and professional journey of resilience and growth.
Browse our curated collection of Business Books for more enriching reads.
In this episode, Steve, Mary, Richard, and Michael discuss:
- The growth to exit of The Great American Cookie Company.
- Being disruptive in your industry to be standout.
- Hiring based on where you want to go, not where you are.
- Finding ways to change the game and get a brand following.
Key Takeaways:
- Success in business is about taking risk. Take as many risks as you can while you’re young. As you get older, life gets more complicated and your ability to take risk gets complicated.
- You will make mistakes, just learn from them and grow.
- Make sure you’re happy with what you get on the exit, you never know what the future will bring.
- Finding the answer doesn’t necessary change the dynamic that you need changed.
Best Advice I Ever Received:
Success in business is about taking risk. Take as many risks as you can while you’re young. As you get older, life gets more complicated and your ability to take risk gets complicated.
Best Advice I’d Give To Someone Who Wants To Build A $10m+ Business:
If you want to build a great business, surround yourself with really smart people who are experts in their area of expertise and learn from each other.
“Once I took those efficiencies from the store that had not done well and I put them back into the other store, we started making even more money. The whole model of the business changed because we opened the store that didn’t do as well.” — Michael ColesConnect with Michael Coles:
- Facebook: Michael Coles
- Website: MichaelColes.com
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