Q&A with Starbucks CEO Howard Schultz

Earlier last week 889’s CEO Judy Huang sat in on a Q&A session with Starbucks CEO Howard Schultz in Chicago. Here are her notes:

Focus on the customer - Focus on the customer. Become involved and fight for each customer; take things personally as this is your family, your job, your livelihood. Losing the customer and trying to get them back is very expensive. If there is change with customers, find out what is happening, make a plan, and execute it.

Working Environment – Spend more on health care vs. coffee. Starbucks coffeehouses create a sense of community, so why not have that same feeling in the office place? Have constant communication with your people. Be honest. Invest in your people. Push for self renewal and go for the offense vs. defense. Striking a work-home life balance is crucial, as is have family support.

Company Practices and Responsibility – We’re all affected by the economic downfall, with fewer social services, lower revenue, etc. With this, the responsibility of the company is going to be greater. This is where health care vs. coffee comes into play.

Social Media – Traditional media is gone; go into social media. Social media is not about selling but rather to sharing information and building trust.

Finally, challenge the status quo and don’t become complacent. Winning and losing is all about luck and timing, so when you win, share your success. Find your core purpose, surround yourself with like minded people, and dream of big. Believe in your dream and raise the equity to build your company with a conscience.