Hardware Podcasts

Live Episode! Starbucks: Howard Schultz

How I Built This · 28 Sept 2017 · 48m

What this episode covers

Howard Schultz, founder of Starbucks, recounts how he transformed a small Seattle coffee bean retailer into a global 'third place' by introducing the Italian espresso bar model after a trip to Milan. He details the difficult fundraising journey to acquire the six-store chain for $3.8 million, overcoming a competitive buyer with the help of Bill Gates Sr., and the strategic decision to expand nationally and internationally, including a risky entry into Japan. Schultz also explains his return as CEO to fix a downward spiral caused by rapid growth, which involved closing 900 stores, shutting down all US locations for barista retraining, and prioritizing employee benefits like healthcare and college tuition to restore the brand's core values.

Most relevant to

early-stage companies, companies scaling up and large enterprises

Topics

Mentioned

Companies
Starbucks, Xerox, Pete's Coffee, Nestle, Costco
Products
Il Giornale, Frappuccino

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