Howard Schultz is the founder of Starbucks and has an estimated net worth of $3.1 billion. He was born to a middle-class family in Brooklyn, New York, on July 19, 1953.
Schultz attended Northern Michigan University for his undergraduate degree in Speech Communication/Broadcasting and received his MBA from Northwestern’s Kellogg Graduate School of Management. After school, he became a salesman at Xerox Corporation. He quickly moved up the ranks to become Vice President at 31 years old before leaving to join Starbucks as Director of Marketing, eventually becoming CEO in 1987.
Starbucks went public on April 26th 1992, with stock prices reaching over $17 per share by December 1992, which was unheard of at the time for
In this blog post, we look at some famous quotes from Howard Schultz and how we can implement them in different aspects of our lives.
1. “If you don’t understand, a business in a commodity market can be a beautiful thing.”
Many of us might not understand the power that comes with being a CEO of a company, but Schultz was able to see early on that Starbucks could easily expand by simply selling coffee beans. He saw the potential in Starbucks and what it would mean for the future of the company. The power and responsibility that comes with being a CEO are huge, but Schultz clearly understood where the future of Starbucks was headed and what it would mean for the business.
Not everyone can see things like Howard Schultz did when he first saw Starbucks; I’m sure many great CEOs have had to work hard to get to where they are today. However, Schultz was a great CEO because he could see what others couldn’t and take advantage of an opportunity in the market when it showed itself.
2. “The company’s job is to take care of the customer so that the customer takes care of the shareholders by purchasing products at a premium.”
Schultz says that this isn’t how it works at Starbucks and that the company takes care of its employees first. Schultz knew the importance of taking care of those who take care of their customers every day, so much so that he implemented a stock-option program where employees could purchase shares at steeply discounted prices.
The quote draws a great parallel to how we treat our clients and customers. I’ve never been a CEO, but what Schultz is saying makes total sense in that if your employees are happy, they’ll be able to serve you better, which will make you happy.
This quote puts the customer second because Schultz sees Starbucks as a place about more than just coffee. It’s a place where baristas and employees can come and enjoy their jobs and the company itself.
3. “I believe in leadership by example.”
This quote is directed at CEOs, but it applies to all of us because we lead others through example every day. We must set a good example for those around us, especially our team of people who work under us. So, if you are a leader, make it your duty to set an example for those around you and if you are not a leader, then try to make sure the people around you are setting good examples for you.
This saying gets at the heart of what makes Schultz such a great CEO today. He has enough belief in his employees that he knows they will do their jobs to the best of their ability. I’m sure there has been plenty of turnover at Starbucks, but Schultz knows that if you set a good example, then your employees will be able to carry out your wishes just as you would wish them to.
4. “Change must come from within. Otherwise, it’s not real change.”
We’ve all heard the phrase that change must come from within if it is real. If you try to force change on your employees, you’ll find that they’re not likely to go through with it. This quote tells us that Schultz understands this and will not try to force anything onto his employees just for the sake of making a profit.
This quote is helpful when you find yourself trying to make changes in your life or your company, for that matter. But, of course, you can’t expect someone else to make the changes happen if they don’t want to take part in them themselves, so it’s up to you to do it on your own for it to be a real change.
5. “Hire people who share your passion for the business.”
Another one of the jobs of a CEO is hiring others to help make a company successful, and Schultz takes this seriously by making sure everyone he hires shares the same passion as he does. If you want your company to be successful, then make sure those who work under you are just as passionate about the company as you are.
This quote is helpful for anyone who has a job, whether it’s at Starbucks or somewhere else. If you’re looking for a new opportunity, then make sure that your passions line up with what they are looking for there because you’ll be infinitely happier working somewhere where your interests lie. It will also give you a better chance of achieving the same level of success as Schultz did.
6. “In business, social responsibility is just good ethics.”
Here Schultz is putting forth the idea that being responsible to the community and your customers is just a matter of doing what’s right. It certainly does help when it comes to how popular you are with your customers, but if you act responsibly, then it won’t matter if other companies aren’t acting ethically.