As of this moment, Starbucks stock is trading at $8.65.
That’s pretty low considering they were over $40 around 18-months ago.
One of the challenges Starbucks has faced in recent years has been growth pressure from Wall Street.
- There were times when Starbucks didn’t want to grow so aggressively, but they were dubbed a “high-growth company” and couldn’t risk slowing down in fear of stock devaluation.
- There were times when they wanted to focus on ‘bench strength’ and having ready-trained employees to replace those who got promoted.
- Times when they wanted to focus on re-training to better understand whole bean coffee.
- Times when they wanted to focus on creating better connections between employee and customers.
Starbucks didn’t want to break the growth machine.
Look at Starbucks now. The growth machine IS broken. The stock has low expectations. No one is expecting record sales. The fear of closing stores is gone.
Starbucks, what are you waiting for? You have nothing to lose. This is the best thing to happen to you! It could be worse, all these troubles could have been caused by a competitor burying you versus simply the economy. You’re lucky!
Now is the time to redefine yourself – the way you want to be – without fear!
- Fix the beverages so they’re again hand-crafted with pride and skill.
- Fix the training so every customer is greeted with a smile and feels valued. (I don’t mean give me a discount, I mean a drink worth 4-bucks, in a clean store, and a sense you appreciate my business).
- Teach the baristas about whole bean coffee
- Stop focusing on creating new Frappuccino flavors and re-inventing oatmeal and more on being coffee experts – roasting, whole beans, and home brewing.
- Stop opening new stores, and make the ones you have remarkable.
Freakin’ go for it.