Tough Economic Times Make the Best Look Bad

Recently the headlines of the business section of local paper read:

Starbucks Now Shuttering 600 Stores

Could Starbucks be going out of business? I thought Starbucks was impenetrable – a super company that could weather any storm and continue to grow at an incredible rate. At the end of March 2008, Starbucks had more than 16,000 stores. Can they all be profitable? It would be nice. Can’t Starbucks shed the money losers without news headlines making it sound like the company might be going under?

Starbucks is blaming some of the store closings on the economy. That’s okay. It’s a good excuse. Here is what I think will happen. Starbucks will continue to play at the top of their game – delivering an excellent cup of coffee with and exceptional customer experience. They know what’s important and realize they can’t slack off because of the economy. That doesn’t mean they have to keep stores that are not meeting revenue standards. All of this is simply smart business.

Watch Starbucks. Even in tough times, Starbucks will continue to teach us great lessons in business.

Shep Hyken, CSP is a professional speaker and author who works with companies who want to develop loyal relationships with their customers and employees. For more information on Shep's speaking programs, books, tapes and learning programs please contact (314) 692-2200. Email: shep@hyken.com – Web: www.hyken.com – Click here for information on The Customer Focus™ customer service training programs (www.TheCustomerFocus.com).