COLUMBUS, OH, April 30, 2009
/24-7PressRelease/ -- When our forefathers arrived on this continent they brought with them a vision of a new world with thriving commerce and raucous marketplaces. No matter what the media may be pushing on us about the economy, the vision of our predecessors is just as alive today as it was a couple centuries ago. If you don't believe it, then kick yourself next time you're standing in line at Starbuck's waiting to pay $4 for a cup of coffee.
Creating a Market with a Cup of Coffee
Howard Shultz was a poor Brooklyn kid struggling to make his way through college, and because he believed he could create a need for caramel macchiatos and chai lattes, he is now the head of a 30-something billion dollar multinational string of coffee shops. After interviewing Shultz, 60 Minutes reporter, Scott Pelley decided the entrepreneur is "creating his own subculture and intends to take the whole world along."
Shultz first became interested in Starbuck's when as a plastic salesman he was intrigued by the volume of plastic drip-brewing thermoses it was buying from the plastics manufacturer that employed him. Shortly after coming on board with Starbuck's he found himself in a love affair with the pulsating coffee culture of Italy. He suddenly was struck with the idea that U.S. patrons would be receptive to elegant gathering places with a spirit of community exchange, all the while sipping on connoisseur coffees to their heart's content.
In 1987 when Starbuck's when up for sale, his inspiration swayed investors to fork over $3.8 billion and he eventually exceeded his goal of 125 outlets in 5 years with 165 stores by 1992. By 2008 there were approximately 11,000 stores in the U.S., with another 4,000 - 5,000 in foreign countries. With fiscal 2009 Q1 net earnings down to $63.3 million, the hot beverage mogul will be making some changes to streamline the operation and increase profitability.
Shultz is a firm believer that the success his empire is based on the philosophy behind the operations - that he created a place for humanity to meet and make human connections. It's an alternative environment to work and home. He says the reason Starbuck's stores are opened across the street from each other is to cut back on the lines where something like 40 million people a week wait to imbibe 300 million plus gallons of brew each day..
Find Your Niche and Make It Happen
Pretty much everyone in this country comes from pioneering stock or from people that knew how to gather the right resources to make something happen. Find your "niche" and build a company around it that offers an alternative solution for a need that's waiting to be filled. The resources, technology, information, financing and business mentoring are all available to support your efforts. This is one of the greatest times in history to launch a business.
About Initial Underrwiting Group
Initial Underwriting Group helps small business owners obtain financing through strong business credit.
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