Tuesday, April 11, 2017

Howard Schultz: In the People business, serving coffee

Check out this article describing the former CEO of Starbuck’s story.  Schultz has a true rags to riches story, growing up poor but making it through college.  However, his story is not a quick one, he worked for a year at a ski lodge after graduating, then at Xerox for three years (which he did not like doing), then worked at Hammarplast for a few years.  It was while at Hammarplast that he met the founders of Starbucks, which was a small chain (they had around 3 stores in Seattle).  Starbucks hired Schultz, but he did not last long, he left after a few years to found Il Giornale (a coffee store based off of the ones in Italy).  Schultz pitched his idea to 242 investors and 217 said no, but after a few years he was able to grow his company and buy out Starbucks for $3.8 million.  Today, Starbucks is worth 2.1 billion.

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