Seven years ago, I made the bold decision to leave my comfortable job at a great law firm with wonderful mentors to help build a breakfast dynasty.
While my official title at Maple Street Biscuit Co. was “general counsel,” my actual role was much more. The founders of Maple Street put together a group of executives from various industries and charged us with one goal: to be the leaders in the breakfast space, but to do it in a way no one had done it before.
We were challenged every day to be bold and break the norms of conventional restaurant operations. Breaking these norms allowed us to create a breakfast restaurant unlike any that came before it.
I learned a great deal during my time with Maple Street, but the most important lesson I took away from my experience was that fortune favors the (strategically) bold.
In the general sense, “bold” means showing the ability to take on risks. But in practice, and to truly reap the rewards of being bold, you have to be so much more. Being bold means having a clear vision of what one wants to achieve and having the courage to pursue it despite the obstacles and uncertainties.
Being bold does not mean being completely reckless. It is still important to make sure the bungee cord is tied before you take the leap.
Being bold means being prepared, flexible and resilient and having the humility to learn from one’s mistakes and failures.
Before Scott Moore opened his first Maple Street location in San Marco, he was forced to face an important question: Could he sell enough biscuits to keep the doors open? As far as he knew, only one other restaurant in the country had done so successfully, and Scott planned to disrupt the restaurant industry so much that this other restaurant was not a meaningful precedent.
He did not take this task lightly. He was bold but calculated in each decision he made to start the company. He was also efficient and unapologetically willing to make mistakes along the way.
Despite a handful of naysayers, Scott and the other founders persistently pursued their vision. There were roadblocks and there were hard lessons, but the Maple Street team persevered with a simple, yet effective mindset: Make plans based on the facts, and when the facts change, the plans change. And the facts changed . . . often.
By the time I took the helm as chief operating officer at Maple Street in January 2020, the world was two months out from unknowingly shutting down because of the global pandemic.
It was during this time that we had the ability to put everything we learned to the test. At this point, we had already built a respectable brand and had plans set out to build a dynasty.
We could have easily let the events of March 2020 put a stop to our plans; but we boldly pressed forward. We changed our plans, slightly, based on the facts, but stayed true to our mission and goals.
At a time when in-restaurant dining was banned, Maple Street was one of the first in the restaurant industry to offer pantry items to help our communities during the unprecedented times.
We got creative with our menu items in hopes of being the go-to place for family meals that could be prepared at home, and we found ways to train our teams and open new locations even though the world was closing its doors.
At a time when restaurants were understandably shutting down in the face of pandemic restrictions, we took the bold, calculated risk to continue flexibly expanding. And it worked.
Now that I am back in private practice, I am continually inspired by those in our profession who exemplify the bold attitude that led to Maple Street’s success.
In my practice, I have the opportunity to work with bold entrepreneurs, some on their first odyssey and others who are seasoned and working on their next adventure.
As we enter the last quarter of 2024 and set goals for next year, I encourage all of us to remember “audentes fortuna iuvat” – fortune favors the bold.
Alexandria Hill is a partner at Driver, McAfee, Hawthorne & Diebenow where she practices corporate law, mergers and acquisitions, business, contracts, franchising and securities law.