How Starbucks Became a $100B Success Story | Howard Schultz | From Poor Boy To Billionaire

Summary

Howard Schultz, the former CEO of Starbucks, rose from poverty to transform the coffeehouse chain into a $100 billion empire. Born in a one-bedroom public housing project, he faced numerous hardships, including selling blood to survive. His determination led him to innovate and expand Starbucks, proving that with vision and perseverance, one can overcome adversity and achieve success. Schultz's story inspires to dream big and take responsibility for one's future.

Takeaways

• 💪 Howard Schultz, the former CEO of Starbucks, overcame a childhood of poverty and adversity to become a successful entrepreneur.
• 🏠 Schultz grew up in a one-bedroom apartment in a public housing project, with his father working low-paid jobs as an army vet and truck driver.
• 🤕 A defining moment for Schultz was when his father broke his leg and lost his job, leaving the family without medical insurance and savings, which deeply affected him.
• 🏈 Schultz played football in high school, which earned him an athletic scholarship to college, but he chose to study communications instead.
• 📚 To finance his education, Schultz took student loans and worked multiple odd jobs, including selling his blood to make ends meet.
• 💼 After college, Schultz worked at a ski lodge and as a salesman before joining Starbucks, which at the time only sold coffee beans.
• ☕ Schultz was inspired by the personal connection coffee shop owners had with their customers in Italy, which he wanted to bring to Starbucks.
• 🚫 Despite being rejected by the original Starbucks owners, Schultz pursued his vision and founded his own coffee company, Il Giornale.
• 💡 Schultz faced numerous rejections while trying to raise funds for his business, but his persistence paid off as some investors believed in his vision.
• 🌟 After Starbucks went bankrupt, Schultz bought the company, rebranded it, and expanded it into the global giant it is today.
• 📈 Starbucks now has over 30,000 stores worldwide and a market value exceeding 100 billion dollars, showcasing Schultz's remarkable success.
• 🚀 Schultz's advice emphasizes personal responsibility, seizing opportunities, and dreaming big, even when others doubt the possibility of success.

Q & A

What is the name of the company Howard Schultz transformed into a 100 billion dollar company?

Howard Schultz transformed Starbucks into a 100 billion dollar company.

What was Howard Schultz's childhood living condition?

Howard Schultz spent his childhood living in a small one-bedroom apartment in a public housing project.

What was the occupation of Howard Schultz's father?

Howard Schultz's father was an army vet and a truck driver who worked low-paid jobs.

What incident during Howard's childhood had a significant impact on him?

When Howard was 7 years old, his father fell on the ice, broke his leg, and was fired from his job, which left a permanent mark on Howard's memory.

What did Howard Schultz do to pay for his college education?

Howard Schultz took student loans and worked multiple odd jobs, even selling his blood at times, to pay for his college education.

What was Howard Schultz's initial job at Starbucks?

Howard Schultz initially worked at Starbucks after convincing the owners to hire him at the age of 29, when Starbucks only sold coffee beans.

What inspired Howard Schultz to change the business model of Starbucks?

Howard Schultz was inspired to change the business model of Starbucks after experiencing the personal touch and customer relationships in Italian coffee shops during a business trip to Italy.

What was the name of the coffee company Howard Schultz created after leaving Starbucks?

After leaving Starbucks, Howard Schultz created his own coffee company called Il Giornale.

How many people did Howard Schultz approach to raise money for Il Giornale, and how many rejected him?

Howard Schultz approached 242 people to raise money for Il Giornale, and 217 of them said no.

What event allowed Howard Schultz to become the CEO of Starbucks?

After Starbucks went bankrupt, Howard Schultz bought the company and became its CEO.

What advice does Howard Schultz have for people regarding success and responsibility?

Howard Schultz advises that in life, one should not blame others or wallow in self-pity but should pick themselves up, take responsibility for their future, and pursue their vision.