Former Starbucks CEO Reveals the Key to Career Success
Howard Schultz transformed a small Seattle coffee chain into the global coffee powerhouse we know today. Here's his advice for aspiring entrepreneurs.
At 71, Howard Schultz is known as one of the most successful entrepreneurs in America, famous for turning Starbucks into a global coffee giant. Although he stepped down as CEO years ago, he remains Starbucks' largest shareholder, with a fortune of $3.4 billion. While no longer deeply involved in the business, Schultz continues to share advice with young entrepreneurs through interviews and talks.
In a recent Fortune magazine interview, Schultz stressed the value of gaining experience before starting your own business.
"At 22, it's important to work for a company that can teach you and show you how an organization operates, as long as the company's values align with yours. Being part of an organization gives you an advantage, it allows you to see firsthand how a business functions before striking out on your own."
He underscored that this approach isn't about abandoning your dreams but building the foundation to achieve them successfully. Schultz also encouraged young people to trust themselves, even when faced with skepticism from others:
"Most of the time, people will tell you that your entrepreneurial dream is too big or the risks are too high. But you don't want to look back at 40 and regret not believing in yourself and your vision."
Schultz's own story shows the power of this mindset. When he worked as Starbucks' Director of Retail Operations, he suggested adding espresso to the menu. His bosses rejected the idea, so Schultz started his own coffee company, Il Giornale, to prove it could work. After his success, he returned to Starbucks in 1987 as CEO, bought the company, and grew it into the global brand we know today.
Schultz also brought creative ideas to Starbucks that changed the coffee industry. He made sure every store had a similar look and feel, creating a familiar and welcoming atmosphere. Another key idea was personalizing cups with customer names, which became a signature part of the Starbucks experience.
Through determination, bold ideas, and customer focused thinking, Schultz turned Starbucks into a worldwide success and left valuable lessons for future entrepreneurs.