When you think about restaurants, many will think about afternoon and evening food, there is money to be made in the breakfast and lunch segment. One such company is Cora which has over 140 restaurants in Canada. Recently the founder received the Veune Clicquot award. Veuve Clicquot is a champagne company which was run by Madame Clicquot Ponsardin after her husband died. The award has been given since 1972 to women around the world. Recently Cora Mussely Tsouflidou the founder of Cora’s Breakfast and Lunch chain was honoured. Incidentally there is a book about Cora called Breakfast with Cora by Cora Tsouflidou, McArthur & Company, Toronto, 2010. The story is a lady needing a job after her marriage ended in divorce and starting a diner to survive. The cost to start was low, but the food and atmosphere which came from the diner was exceptional. Very soon many people became regulars and after a few years, the demand to open a second and a third and then a fourth and then to franchise became a reality.

Why was this restaurant exceptional, and other diners just a relatively inexpensive place to eat? Part of the story is the founder and her ability to listen, learn, and be creative. Part of it was early on, she decided to focus on breakfast and lunch from there the eggs, crepes, French toast and other basics could be adapted with fresh fruit. The menu would be adapted to things the customers wanted which would translate into new dishes. In every business, particularly a small business, how the owner stays energizer is the big thing. For Cora after the restaurant closes she would go to other areas of the city to see the foods from around the world. Ideas and combinations would occur to her.

It is easier to manage a one or two store operation, as the business grows and your customers continue to be repeat business, the expectation of operational systems are in place or will consumer time. With the operational systems in place the possibility of growing even more or taking advantage of the opportunities that come forward.

Cora writes that to make a decision she never wants to rush the decision – taking time to reflect, study and then do. It is easier with a small operation.  Each decision while not always a major one carries the risk of being wrong. Not rushing is a rule for her – sleep on it. Do you see how the decision takes shape in doing or not positive. When you have little resources, you do not want to waste them, A good line from the book is I do not waste money that I have not earned yet.

One of Cora’s biggest concerns was fear. At first it was fear of making a living, then it became a fear of expanding. There is no doubt it is tough, but you need to believe in success. The truth is the events in our lives never unfold exactly as we expect or we plan them. This upsets us as we are not in control. Cora’s message is decide that is not how things are going to be. Change the way you look at things, see the glass half full (all the things you did well, there will always be things that can be improve on); roll up your sleeves and continue. Business is not a roll of the dice, or not luck it is a matter of commitment. Your success depends on giving your body and soul to do it and that is why you should love what you do. Your success will be in all the little things you do on a daily basis. You have to do the little things right and listen to your customers,

Linking to dividend paying stocks, it hard to succeed in business because it has be done consistently year and year out, but there are companies doing that and they are achieving profits. The profits help push up the price of the stock and if they have enough profits they can continually pay dividends, This makes life easier if you start with these types of companies. In your research you will see which ones do the little things right and listen to their customers to enhance the value they receive from the transaction.

There are more questions than answers, till the next time – to raising questions.