Early on I realized that I had to hire people smarter and more qualified than I was in a number of different fields, and I had to let go of a lot of decision-making. I can't tell you how hard that is. But if you've imprinted your values on the people around you, you can dare to trust them to make the right moves.
Interpretation
Effective leaders must surround themselves with capable individuals and trust their judgment.
In this quote, Howard Schultz emphasizes the importance of hiring talented individuals who are more knowledgeable in their respective fields, as well as the need for leaders to relinquish some control in decision-making. By instilling core values in their team, leaders can cultivate an environment of trust, allowing them to confidently delegate responsibilities without second-guessing their team's choices.
In practice
In a leadership seminar discussing the importance of trust in delegation.
The rules of engagement around building a brand have changed significantly over the past 10 to 15 years. Where companies at one time could spread their message through traditional marketing, consumers now seek an enduring emotional connection with the companies they patronize. The foundation of that connection is the most important characteristic of building a world-class brand: trust. Trust with your people and trust with your customers.
The future of America is not an entitlement. We have been given a treasure chest of gifts and opportunities, but some people are being left behind, and success is not sustainable unless it is shared.
Starbucks is not an advertiser; people think we are a great marketing company, but in fact we spend very little money on marketing and more money on training our people than advertising.
While their service is ending, our responsibility is just beginning!
In life, you can blame a lot of people and you can wallow in self-pity or you can pick yourself up and say listen, I have to be responsible for myself.
When I first discovered in the early 1980s the Italian espresso bars in my trip to Italy, the vision was to re-create that for America - a third place that had not existed before. Starbucks re-created that in America in our own image; a place to go other than home or work. We also created an industry that did not exist: specialty coffee.
It is the job of leaders to eliminate uncertainty.
The standards you establish for others must reflect the standards you set for yourself. No one will follow a hypocrite.
Nobody knows how to be a CEO. It's something you have to learn. It's a very lonely job.
I don't invest anymore in entrepreneurs who don't have charisma.
We want to empower our people; we want to strengthen them; we want to provide them with the kind of qualifications that will enable them to build up their own country themselves.
In our experience, what we have found is the rare commodity is a good management team. And good management teams manage through good and bad cycles and manage to grow their business over a long period of time.
Subscribe for the occasional hand-picked quote. No noise.