The monthly luncheons hosted by the Sandy Springs Perimeter chamber of Commerce attract well over a hundred members and guests who come together to network and hear from some of the area’s premier business and community leaders.  Attendees of the May luncheon were served a compelling mixture of business advice, thoughts on leadership and lessons learned, stirred together with hearty helpings of humor and inspiration by Michael J. Coles, co-founder of the Great American Cookie Company and former Chairman, CEO and President of Caribou Coffee.  The program was presented by Brand Bank, where Coles serves as Chairman of the Board. 

Coles, for whom Kennesaw State University’s School of Business is named, shared the story of how he and a business partner opened the first Great American Cookie Company store in Sandy Springs’ Perimeter Mall in 1977 and grew it to a national chain with over $100 million in sales by the time they sold the business in 1998.  Coles cites the partners’ willingness to take risks, coupled with a strong belief in the concept, plus an incredible amount of hands-on hard work for the company’s success.  The two partners suffered several early setbacks, however, including a store fire on opening day and a near-fatal motorcycle accident for Coles six weeks into the new business venture.  From these and other challenges, Coles said he learned that “every adversity we face prepares us for the next challenge.”

After selling the Great American Cookie Company, Coles began consulting for Caribou Coffee and later became the firm’s chairman, CEO and president.  Coles shared with Chamber members some of the strategies he employed to grow the brand. First, he said, successful business leaders understand what their company sells and clearly define the corporate mission.  They focus on service and execution, and constantly challenge the status quo through innovation.  He summed up his success formula as:  “Product plus environment plus service equals the customer’s experience factor.” 

Today’s companies, Coles said, are tasked with developing relationships with their customers.  Consumers access products and services 24/7 through a variety of mobile devices, along with bricks and mortar stores, and share their experiences through social media.  Business leaders need to keep the “four I’s” in their business plans, Coles told the audience.  They must provide customers and employees with relevant information, constantly innovate, successfully implement and always look for ways to improve.