INSTANT MBA: Past Victories Don't Ensure Future Success

Panera CEO Ronald Shaich

Photo: YouTube./PaneraBreadCo

Today’s advice comes from Panera co-founder Ronald Shaich’s interview with Forbes:”We do not for one minute believe past success ensures future success.”

After running Au Bon Pain for more than a decade, Shaich bought Panera for $24 million in 1993. Since then, he has overseen a massive expansion of the cozy bakery chain, which now includes 1,541 locations and had revenues of $1.82 billion last year.

A Harvard Business School grad, Schaich says that he’s learned to never take success for granted. At Panera, he works to always keep innovating, coming up with new recipes and business ideas.

“Given the frequent failures of restaurant companies, even those once at the top of the industry, a healthy paranoia pervades Panera’s halls.”

Want your business advice featured in Instant MBA? Submit your tips to [email protected]. Be sure to include your name, your job title, and a photo of yourself in your email.

NOW WATCH: Ideas videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.