We Study Billionaires - The Investor’s Podcast Network

TIP392: Frameworks for Building Billion Dollar Brands w/ Kat Cole

Oct 31, 2021
Guest
Kat Cole
Trey Lockerbie chats with Kat Cole, former President and COO of Focus Brands, known for her impressive turnaround at Cinnabon during the recession. She shares her remarkable journey from waitress to VP, emphasizing personal initiative and hands-on experience in the food industry. They dive into the importance of community in brand building and how brands can create emotional connections with consumers. Kat also discusses innovative strategies for evolving brand identity and the impact of NFTs in fostering community and engagement.
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ADVICE

Customer Obsession

  • Obsess over customers and key stakeholders to succeed in any business.
  • Understand their current situation and how your business affects them.
ANECDOTE

Waitress Training

  • Kat Cole's waitress experience taught her customer-centricity.
  • The close link between customer experience and tips created a strong feedback loop.
INSIGHT

Cinnabon's Recession Challenges

  • Cinnabon faced challenges during the recession due to its reliance on malls and airports.
  • The business model, lending crisis, and franchisee issues added to the difficulties.
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