Coles shares story Monday: ‘Taking on Goliath’ with Michael J. Coles
By Michael Carmody
Silicon Couloir, a Jackson nonprofit dedicated to providing support and resources to entrepreneurs, aims to “take on Goliath” with guest speaker Michael J. Coles at its next Chance Meetings event on Monday.
Coles, founder of the Great American Cookie Company, former CEO of Caribou Coffee and chairman of Brand Bank, triumphed over significant hardship on his road to success, and he takes delight in being able to share his valuable insights with those on the way up.
“It’s really a talk about overcoming adversity,” Coles said. “It’s all about convincing people to try to step out of what would be their comfort zone and achieve more than they might have thought they could. I talk a little bit about how we founded the cookie company with only $8,000 and built it right, to, in then-dollars, a $100 million revenue company, which would probably be about a half a billion today.”
Coles spent his adolescence working up to three jobs at a time to help support his family, cutting his teeth in the garment business before launching the cookie empire that would conquer American malls from coast to coast. But it might not have happened had Coles not suffered grievous injuries in a 1977 motorcycle crash.
“I went into the cookie business thinking it was going to be a couple-year deal and I would do that until I figured out what I really was going to do with the rest of my life,” Coles said. “And then I had this motorcycle accident, and I virtually couldn’t do anything else but focus on the business.”
Coles ended up defying his doctors’ prognosis, devising his own physical therapy routine centered on bicycling. He eventually not only recovered from his injuries but managed to set multiple transcontinental bicycling speed records, both solo and as part of a team. Now a resident of Jackson Hole, he has written a book about his experiences and savors the opportunities to provide motivation and inspiration to others at speaking engagements such as Chance Meetings.
“It’s not to brag about my success, because, as you know, living in Jackson, there’s plenty of successful people,” Coles said. “But I think a lot of people can identify with my story, because the success is not so big that most people can’t see themselves in that position. And my motorcycle accident, you know, I was told I’d never walk again unaided. There have been people who have come back from much greater adversity physically than I have, but I feel like my story is identifiable. I think my story can help other people lift themselves up.”
Silicon Couloir, now in its 14th year of operation, has a healthy track record of connecting up-and-coming visionaries with one another and with investors, boasting a total of some $153 million in funds raised for various entrepreneurial projects in the Tetons.
“That’s money raised by companies that we’ve supported in our ecosystem,” said Rebecca Reimers, Silicon Couloir’s ecosystem director. “Some of that is grants, some of that is angel investment, some of it is venture capital. But these are companies that have been involved in our programs, so that’s reflective of our support and assistance for them.”
Chance Meetings are a free monthly event that allows locals to rub shoulders, and exchange ideas and support, with others in the community. But it’s not the organization’s only public outreach.
The nonprofit also has Pitch Day, a kind of local “Shark Tank,” and a mentoring program.
Reimers emphasized that Chance Meetings, while informative and inspirational, are also fun and informal.
“It’s a warm, welcoming environment, and everyone is invited to join in,” she said. “I know it’s sometimes scary to come to a networking event where you may not know many people, but this is just a really supportive community. So I hope people will take the chance and come out and join us.”
“Taking on Goliath with Michael J. Coles” is the Chance Meeting taking place from 5 to 7 p.m. Monday at The Virginian.