#165: Mignon Francois, Founder and CEO of The Cupcake Collection — Know what you believe in
Dec 14, 2023
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Mignon Francois, founder and CEO of The Cupcake Collection, shares her journey from starting her business with $5 to selling over five million cupcakes. She discusses the importance of faith, the qualities every entrepreneur needs, and how transparency strengthens relationships.
Believing in core values and personal beliefs acts as an anchor for leaders to stay strong and grounded in the face of challenges.
Persistence, determination, and collaboration are crucial qualities for entrepreneurs to succeed in their endeavors.
Deep dives
Key Insights from Mignon Francois' Journey
Mignon Francois, founder and CEO of The Cupcake Collection, shares her inspiring journey of starting her business from scratch with just $5 and growing it into a successful bakery with over 5 billion cupcakes sold. She emphasizes the importance of perseverance, strength, and faith in overcoming adversity and challenges. Mignon credits her parents, who were both in leadership roles, for shaping her as a leader. She also highlights the significance of core values and beliefs in guiding decision-making and maintaining resilience in leadership.
Discovering a Hidden Talent in Baking
Mignon recounts how she found her passion for baking despite initially wanting to be a doctor. She realized that the principles she learned in college chemistry applied to baking, which led her to experiment in the kitchen. Learning from her grandmother and applying her scientific knowledge, she discovered the science behind baking and mastered creating recipes. This realization sparked her ability to make any recipe and continuously develop new ones, including sugar-free offerings.
Turning Adversity into a Successful Business
Facing financial struggles and drowning in debt, Mignon decided to start a bakery to find financial freedom. Inspired by Dave Ramsey's advice, she used her baking skills to sell cupcakes and generate income. Her determination and resourcefulness enabled her to turn her initial $5 investment into a thriving business. Through hard work and resilience, she rebuilt her credit, eventually owning the house where The Cupcake Collection is now located. Mignon's story serves as a testament to the power of belief and the value of taking calculated risks.
Leadership Lessons and Collaborative Mindset
Mignon shares valuable leadership insights from her experience. She emphasizes the need for entrepreneurs to be persistent, determined, and willing to learn from others. Collaboration is another key aspect she highlights, citing her successful partnership with a local restaurant during a challenging time. Mignon's commitment to being an authentic leader and maintaining transparency has been vital in establishing trust with her team and customers. She also encourages leaders to focus on joy, countering trials with a positive mindset, and finding strength in personal beliefs and values.
Today’s guest is Mignon Francois, the founder and CEO of The Cupcake Collection, a destination bakery with locations in Nashville and New Orleans.
Mignon started her business with nothing but a five dollar bill. She turned that $5 into $60 with her first order. Sixty dollars became $600. And now, she’s sold over five million cupcakes and has won all kinds of entrepreneurial awards.
And as sweet as her success has been (no pun intended!), it hasn’t come easy.
As you’ll hear today, Mignon has persevered through some real adversity.
But you’ll also hear just how strong her mentality is. And for her, that strength comes from her faith.
Faith is an incredibly personal thing. And it looks different for each one of us.
But when you know what you believe in—whether that’s religious faith, a sense of spirituality, or simply core values you hold dear—you’ve got an anchor that will help you stay strong and grounded as you navigate all the challenges of leadership.
Listen in and see what leadership looks like when you know what you believe in!
You’ll also learn:
• The five qualities every entrepreneur needs
• A new (and refreshing) way to look at competition
• The #1 thing you need to run a family business well
• How being transparent can strengthen your relationships
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