Bill Smith III, a third-generation former CEO of Royal Cup Coffee & Tea, recently sat with the "Disruptive Successor" podcast. Hosted by Jonathan Goldhill, the two talk about the company's beginnings, how Bill Smith III stepped in and found success, and other exciting tidbits. Finally, they talk about what Bill Smith III is up to now as he takes on a different role with his family business.
The company's entire history is one of the main highlights of the podcast. Bill details how the early beginnings can be linked to the late 1890s. In 1950, William E. Smith purchased Batterton Coffee Company and turned it into Royal Cup Coffee & Tea.
William E. Smith is the grandfather of Bill Smith III, so his intriguing perspective of being around the company his entire life paints the story perfectly. The Bill Smith, Royal Cup Coffee name, continues to be synonymous with success.
Many highlights are covered, but the podcast explores some of the challenges a family-owned business can face. There’s also a discussion about how things evolve with each generation, as Bill Smith used his personal strategies to help evolve the company and make it a national brand.
The podcast runs just over 36 minutes, which provides plenty of time for details about the family and the company, Royal Cup Coffee & Tea. People will learn a little more about this particular company, and there’s a chance to pick up some strategies applicable to other business sectors.
After finding success as the president and CEO of Royal Cup Coffee, Bill Smith has since transitioned to a supporting role as a director and strategic advisor. His primary focus currently is on Double Iron Consulting, which is a way to help other family business owners with their goals and expectations.
He still supports Royal Cup Coffee as an advisor after he, the family, and the board decided to promote a non-family executive to lead and manage the day-to-day operations and the company’s next phase of growth.
The discussion briefly touches on the importance of what Double Iron Consulting offers to the next generation of business owners. Family businesses must continually evolve and adapt to survive in a competitive world. Bill Smith discusses the transition and joys of working with others, from success planning to strategic growth.
About Bill Smith III
Bill Smith is the current owner of Double Iron Consulting. He previously served as the CEO of the family-owned business, Royal Cup Coffee & Tea, from 2014-2020. A native of Birmingham, Alabama, Bill Smith also stays connected to Royal Cup Coffee & Tea as a director and advisor on the company’s board of directors.
He has taken the experience from his own family business to help others successfully run, plan, organize, and grow their businesses through his consulting firm, Double Iron Consulting.
