Two years ago, I met the book that brought me to business—Onward
The books was written by the ceo of Starbuck, Howard Schultz, illustrating how Starbuck overcame the crisis in 2008. Coming back to Starbuck as ceo when the company was going downward, Howard re-assured the company’s value position to the staff and the customers.
On Tuesday afternoon in February 2008, Starbucks closed all of its US stores.
A note posted on 7100 locked doors explained the reason:
“We’re taking time to perfect expresso.
Great expresso requires practice.
That’s why we’re dedicating ourselves to honing our craft”
Shutting down all US store for a afternoon brought a huge lose for the company. However, it turned out later that such action payed off. It reminds Starbucks’ staff their value of the company. Since then, Starbuck was back on its track to growth.
Starbucks’s story reminds me the business canvas. The value proposition of the company locates in the middle the canvas. It effects every other section in the canvas.
Many companies tend to forget their value proposition as they expand. Blindly pursuing profit crashes the structure of the business and eventually leads failure.
Pictures are from https://www.google.ca/