Summary of Caribou Coffee CEO speech

Today's strategic marketing class, professor invited Michael Coles, CEO of Caribou Coffee, to address a speech. Caribou coffee is the second large coffee retailer next to Starbucks. And Michael still keeps the world records of crossing US in 5 days 1 hour and 10 minutes. You can see his passion while speaking.
He mentioned the example of David and Goliath to say that everyone should have courage to face his own Goliath, no matter what it is.

The second part was mostly about his business story. Before he got Caribou coffee, he started his business as a cookie company. People saw his success that they spent 8000 dollars and got millions dollar in return. But the rest story for him is how to take the company to next level? You have to fix problems at the time you discover them. It was not an instant success.
Afterward, he got the chance to take Caribou coffee. The secrets to save a business are very simple: do more right things, and stop doing wrong things.
You have to

1. Define the Mission--don't kid yourself.
2. Secret to Success--Service, Service, Service.
3. Challenge belief structure--how could I improve and do it better?
4. Execution
5. Define the Battle Field

and find your own formula. His is product+environment+service=experience
so always ask yourself, what do I do well? what should I stop doing? and what's my formula?

He quoted someone's word that "when people start to follow you, even if of curiosity, you know that you are a leader.

Knowing what you don't know. what's the ultimate challenge? and the courage step into the valley. Here are his conclusions.

BTW, Caribou has free refill, don't forget try that next time.