1: In 2017, Panera Bread founder Ron Shaich sold the company for $7.5 billion, one of the largest deals in restaurant history.

What does Ron believe is the “the singular element” that created this enormous amount of value?

The “Concept Essence” document that he and his team created twenty-one years earlier.

What exactly is a Concept Essence? 

It “isn’t a business plan,” Ron writes in his book … continue reading

1: Let’s start by defining what not to do.

Says Panera Bread founder Ron Shaich: “So many times, I’ve seen smart, talented people jump to action without truly understanding what it is that they are trying to create.”

What’s the result?  “They fail,” he observes in his book Know What Matters.  “The outcome is clichéd or irrelevant.”

There is a better way. We start by asking the question: … continue reading

1: “‘Fail fast’ might work when it comes to software,” Panera Bread founder Ron Shaich writes in his powerful book Know What Matters.

“‘Done is better than perfect’ might be an appropriate mantra for Facebook,” Ron observes.  

“When speed-to-market is your priority, minimally viable may be sufficient.

“But if we’re trying to build a lasting brand, to create a relationship with our customers for the long term,” he notes, … continue reading

1: “It’s always the same list,” Oliver Burkeman writes in Meditations for Mortals: Four Weeks to Embrace Your Limitations and Make Time for What Counts.

How to live a fulfilling life. It’s always the same list.

“Nurture our relationships, pursue challenging goals, spend time in nature, and make room for fun,” Oliver notes.

But we knew that already.  

“If following a list was all it took, we’d have solved … continue reading

1: “Don’t make a decision until you need to,” Panera Bread founder Ron Shaich writes in his book Know What Matters.

“That might sound obvious,” Ron notes, “but so many companies leap to promising dramatic growth and then trap themselves under the weight of the expectations they’ve created.”

Thinking back on the early days of Panera, Ron recalls: “We knew we were ready to grow, and we had an … continue reading

1: “Imagine we’re floating in a clear blue ocean—somewhere warm like Hawaii or Mexico,” Ron Shaich writes in his terrific book Know What Matters: Lessons from a Lifetime of Transformations.  

“Waves are breaking and rolling toward the white, sandy beach,” Ron notes.  “We know that’s where we are headed, so our ultimate destination is clear.  And we know that any wave will take you to shore.

“But not just … continue reading

1: Ron Shaich‘s first impression of the company he would sell twenty-four years later for $7.5 billion was not good.

It was 1993.  Ron was the CEO of Au Bon Pain.  He had gotten up before dawn to visit the St. Louis Bread Company, a bakery that sold sandwiches, baked goods, and pastries, which one day would become Panera Bread.

After making several wrong turns, Ron arrived … continue reading

1: Fledgling entrepreneur and future Panera Bread CEO Ron Shaich realized he had a problem: People don’t eat cookies for breakfast.

Ron was 26 and had just started the Cookie Jar in downtown Boston. The year was 1980.

“Every morning, I watched tens of thousands of potential customers pass me by without a glance,” he writes in his terrific book Know What Matters: Lessons from a Lifetime of Transformations.… continue reading

1: Imagine two groups of bike riders that are getting ready to ride through the countryside.

“The first group,” Rachel Barr writes in How to Make Your Brain Your Best Friend, “are instructed to take notice of the delightful things they experience along the way, to savor each sensation, like a brush of warm sun, or the pastoral charm of cows eyeing them with mild suspicion.”

The second group … continue reading