"Protect and preserve your core customers," he [Jim Sinegal, cofounder and CEO of Costco] told our marketing team when I invited him to speak to us. "The cost of losing your core customers and trying to get them back during a down economy will be much greater than the cost of investing in them and trying to keep them."
Whenever I see someone carrying a cup of coffee from a Starbucks competitor, whether it’s an independent coffee shop or a fast-food chain, I take their decision not to come to Starbucks personally. I wonder what I, as Starbucks’ chairman and ceo, might have done to keep them away and what I might do to encourage them to come back or to try us for the first time.
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But my story is as much one of perseverance and drive as it is of talent and luck. I willed it to happen. I took my life in my hands, learned from anyone I could, grabbed what opportunity I could, and molded my success step by step. Fear of failure drove me at first, but as I tackled each challenge, my anxiety was replaced by a growing sense of optimism. Once you overcome seemingly insurmountable obstacles, other hurdles become less daunting.
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