Getting The Hole Story: How Joyce Came To Dominate The Donut
Getting The Hole Story: How Joyce Came To Dominate The Donut
Persistence: Joyce was only human. He had regrets like the rest of us. But what perhaps set him apart from others was that he did not let those regrets get in the way of going on with the rest of his life. Where he made a mistake once, he picked himself up, got over it, and went back to work.
Passion: Joyce’s ex-wives might not have anything positive to say about him, but they would both be first hand witnesses to the passion and dedication that he had for his work. And, for Joyce, that was what it was all about. Whether he was in the boardroom or out on the golf course, Joyce wanted to devote himself completely to something he loved.
Focus: Joyce knew that if was going to succeed in the competitive coffee industry, he would have to stand out; he would have to create a unique selling point that would keep customers coming back to his shop instead of the one across the street. And, he knew fancier cups and the like were not going to do it. To that end, Joyce reoriented his company to focus on freshness, believing it was something that would be valued by customers. He was right.
Branding: If there is one thing that Joyce understood better than anything else it was the importance of creating a powerful and lasting brand. He created a company that became “your friend along the way” for Canadians nationwide. By keeping Tim Hortons in touch with communities, and focusing his marketing around Canadian culture, he turned a coffee shop into a Canadian institution.
Franchising: Joyce knew that if he wanted Tim Hortons to grow, and grow rapidly, he would have to embrace a system of franchising. By implementing a structure based on fairness and support for his franchisees, Joyce saw his chain become one of the most popular in the country.
Joyce did not have any formal business education. He did not even have a high school degree. What he did have was determination and ambition. As a result of his impressive career, Joyce has received the Order of Canada, induction into the Canadian Business Hall of Fame, and five honorary university degrees. “The amazing part of this story,” he says upon reflection, “is that a young kid can leave small-town Nova Scotia at an early age, and be successful working hard at what he believed in…It’s a great story of what you can achieve in this country.”
Getting The Hole Story How Joyce Came To Dominate The Donut
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Thanks to Joyce, Canada has been called by some the “Timbit Nation.” Even the Royal Canadian Mounted Police have an unofficial radio code for Tim Hortons, as 10-99 or “Tango Hotel.” Every single day, for a product that costs just pennies to make, Tim Hortons brings in revenues of over $2 billion. How was this young boy from rural Nova Scotia who grew up on welfare able to become one of Canada’s most celebrated and successful businessmen?
Persistence: Joyce was only human. He had regrets like the rest of us. But what perhaps set him apart from others was that he did not let those regrets get in the way of going on with the rest of his life. Where he made a mistake once, he picked himself up, got over it, and went back to work.
Passion: Joyce’s ex-wives might not have anything positive to say about him, but they would both be first hand witnesses to the passion and dedication that he had for his work. And, for Joyce, that was what it was all about. Whether he was in the boardroom or out on the golf course, Joyce wanted to devote himself completely to something he loved.
Focus: Joyce knew that if was going to succeed in the competitive coffee industry, he would have to stand out; he would have to create a unique selling point that would keep customers coming back to his shop instead of the one across the street. And, he knew fancier cups and the like were not going to do it. To that end, Joyce reoriented his company to focus on freshness, believing it was something that would be valued by customers. He was right.
Branding: If there is one thing that Joyce understood better than anything else it was the importance of creating a powerful and lasting brand. He created a company that became “your friend along the way” for Canadians nationwide. By keeping Tim Hortons in touch with communities, and focusing his marketing around Canadian culture, he turned a coffee shop into a Canadian institution.
Franchising: Joyce knew that if he wanted Tim Hortons to grow, and grow rapidly, he would have to embrace a system of franchising. By implementing a structure based on fairness and support for his franchisees, Joyce saw his chain become one of the most popular in the country.
Joyce did not have any formal business education. He did not even have a high school degree. What he did have was determination and ambition. As a result of his impressive career, Joyce has received the Order of Canada, induction into the Canadian Business Hall of Fame, and five honorary university degrees. “The amazing part of this story,” he says upon reflection, “is that a young kid can leave small-town Nova Scotia at an early age, and be successful working hard at what he believed in…It’s a great story of what you can achieve in this country.”
Getting The Hole Story How Joyce Came To Dominate The Donut
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 Lesson #5: Learn The Fundamentals of Franchising
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 Joyce was Tim Hortons’ original franchisee, but it would not be for long. After working under Horton for a few short weeks, Joyce immediately realized that he was on his own. “It was clear that he didn’t know the bu... |
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Lesson #2: Winning Does Not Matter When You Love The Game
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| “When you find the niche you love, that becomes your passion,” says Joyce. “For me it was Tim Hortons. It was my world.” |
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Getting The Hole Story: How Joyce Came To Dominate The Donut
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| Thanks to Joyce, Canada has been called by some the “Timbit Nation.” Even the Royal Canadian Mounted Police have an unofficial radio code for Tim Hortons, as 10-99 or “Tango Hotel.” Every single day, for a product t... |
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The Donut King: The Early Years of Ron Joyce
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| He grew up in rural Nova Scotia in a house without plumbing and a wood stove for heating. Today, he has eight cars, owns a $60 million golf club resort, and has so much money he has even offered to fly people on tri... |
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Lesson #3: Create a Fresh Focus For Your Company
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| The moment Joyce assumed ownership control of Tim Hortons, he knew something had to change. His hockey star partner had a good idea in the coffee shop, but its success – or lack thereof – was speaking for itself. Jo... |
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