Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Todd Graeve, CEO at Scooter’s Coffee:
What does your company do?
Our company, Boundless Enterprises (dba Scooters’ Coffee), is a vertically integrated wholesale coffee roaster and distributor, and a retail coffee franchisor of Scooter’s Coffee. Scooter’s Coffee is a Midwest-based drive-thru coffee concept with 175 stores currently, and a future trajectory of at least 35-55 stores per year. We roast and distribute coffee (and many other coffee-related products) to mostly retail coffee customers, including all Scooter’s Coffee franchisees nationally. Boundless Enterprises wholly owns the Scooter’s Coffee franchise and brand. In addition to wholesale coffee, we franchise our Scooter’s Coffee concept and support Scooter’s Coffee franchisees in their respective ventures and with success-driven intent. We also own and operate a number of Scooter’s coffeehouses.
What is your role? What do you enjoy most about your role?
I’m the CEO of Boundless Enterprises and Scooter’s Coffee. I most enjoy the great opportunity we have, each day, to help someone along and assist others both professionally and personally. I enjoy building businesses, helping others do the same, and observing the great possibilities and impact of such. Our Scooter’s Coffee franchisees are trusting us when they decide to partner with our company. With that, comes great responsibility to help them be successful and achieve their dreams. The relationships that grow out of that have the potential to be very meaningful long term.
What are the biggest challenges in your business right now?
Management and enhancement of growth is our biggest challenge. As difficult as they may be at times, we love and accept challenges at Boundless Enterprises and Scooter’s Coffee. We’ve pushed through many trials in our 20-year past. We’re now prepared to be tested yet again as we advance toward new opportunities and more robust growth. We’ve grown quickly over the past five years. With that comes growing pains, new risks and the great challenge of staying ahead of the growth curve through thoughtful strategy and proactive assessment of resources. Those assessments and strategies will be dynamic and driven but won’t always be perfect. So, we’ll remain somewhat nimble as we bridge current resources with future aspirations. We’re currently investing in infrastructure, innovation and people to meet the challenges associated with strong growth trajectory.
If you could go back in time, what business advice would you give to a younger version of yourself?
Be persistent and remain humble. It can be a tough road when you start in business or begin a career, and more often than not, persistence and courage are needed. There will be times when you’ll have to dig deep and capture fortitude. And, if success does come, walk in humility… always. If success does come in some form or to some degree, stay humble and close to your roots.