Starbucks' Mid-Career Crisis

Starbucks is hitting some resistance to its phenomenal growth. Same store sales are down, the CEO has publicly questioned the dilution of the brand and side offerings are getting lukewarm reception in the market. Is Starbucks going through a mid-life crisis?

Sounds similar to a corporate mid-career crisis. After having run half the marathon you're out of juice and not sure which path to take. Are you questioning your ability to make it to the finish line? So what does Starbucks tell us about getting a handle on this mid-career situation?

Growth Strategy: You are probably stuck mid-stream because you are unsure about your career path. Just like adding more stores is not working for Starbucks, you know what is not working for you but are unsure about what will. Strategize your growth and career options. Look at the big picture, and put the pieces together of where you want to be eventually. Then chalk out a plan for getting there. Confer with mentors. Review, evaluate and create your growth strategy. As they say – “if you don’t know where you are going, any road will do.”

Focus: Are you digressing from your strengths? Remember Starbucks trying to sell music and movies? Starbucks' true service offering is coffee, not music and movies. Don’t make that mistake in your career. Diversify, expand, learn, but keep your focus on what you do well and how to leverage those strengths to move forward.

Brand Management: When the Starbucks chairman, Howard Schultz, frets that rapid expansion is diluting the brand, there is something to learn from that message. You have a brand and your brand proclaims who you are. You have spent years inculcating that brand – don’t dilute your brand by being negligent and comfortable. Brand management requires exemplary delivery on the promise. Your brand and credibility is contingent on your execution. You cannot afford to let-up.

Capitalizing on your strengths is a big part of career progression. I recommend this post on career management. Whether you're looking to make a midlife career change or establishing a second career mid life, Mark Runta offers excellent advice on the subject.

Says Mark: "You have come this far and kudos to you for that accomplishment. But the race is still on and the last half is harder. A lot harder! The prepared, resolute and focused usually finish the race."

If you still have the energy to climb the ladder, Mark offers a free e-book, Unstuck, to help you reenergize your career progression.

Thanks to Mark Runta, who offers thoughts and comments on Project Management and Global Outsourcing on his blog.

Comments

[Nicolette]

Dina,

I agree with all three of your points. However, having been an entrepreneur and small business owner for 25 years and just now entering the corporate world, "being your own boss" has its ups and downs.

I'm not so interested in climbing any ladder, as much as seeking greater challenges on a larger stage. If I'd started my career in a large corporation, I'd definitely be forging a path away. But from my experience, independence is an illusion. We're always dependent on someone for our financial freedom, like demanding clients for example.

I'm more interested in working with people I like. When I stopped enjoying working one-on-one with clients, I chose to go in-house. Now, at least, I can stop chasing the money.

But if you have a financial cushion, I highly recommend any burned-out Boomer to make the leap to self-employment. Just be sure your potential customers are as enthused about your offering as you are.

[Dina Lynch Eisenberg]

I might quibble over a point or two.

Starbucks was never in the coffee business. They were very, very successful in the experience business, which allowed consumers to customize their experience of coffee (I'd like a half caf, mocha, soy latte, please). Consumers decide what experience they'd like to have- just because movies didn't work doesn't mean the concept doesnt.

Second, tell Madonna that you can't tamper with a brand. At 50, she's one of the 3- yep 3- celebrities over 50 that the youth market recognizes as cool. She changes her brand like most of us change underwear. And, she always delivers on her promise to be new and exciting.

Personally, I think Boomers might want to jump off the ladder and consider forging their own path. Being entrepreneurial seems like the surest way to having freedom and some measure of financial independence available in these crazy times.

[Mark Runta]

Mid-life career growth can be challenging but with preparation and a strong will to succeed - anything is possible.

Great blog!

-Mark