I think many start-ups make mistakes because they are focusing on things that are farther ahead, and they haven't done the work that has built the foundation to support it.
Interpretation
Start-ups often fail because they neglect foundational work while pursuing ambitious goals.
Howard Schultz's quote emphasizes the importance of laying a solid foundation before aiming for greater achievements. Many entrepreneurs focus on future aspirations without ensuring they have the essential groundwork in place, which can lead to failure in their ventures.
In practice
This quote can be used in a business seminar to advise entrepreneurs.
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.
When our attitude towards ourselves is big, and our attitude toward others is generous and merciful, we attract big and generous portions of success.
My success was not based so much on any great intelligence but on great common sense.
Start-up success is not a consequence of good genes or being in the right place at the right time. Success can be engineered by following the right process, which means it can be learned, which means it can be taught.
The defining factor [for success] is never resources; itβs resourcefulness.
To double your net worth, double your self-worth. Because you will never exceed the height of your self-image.
Vision w/o execution is just hallucination. You need the right combination of visionary + team that can execute
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