Tag Archives: Business Lessons

How Starbucks Did It? (5 Must-Learn Best Business Lessons)

“We’re taking time to perfect our espresso. Great espresso requires practice. That’s why we are dedicating ourselves to honing our craft.”

February 2008, Starbucks made it on top news headline that it has shut down its US operations. Speculations and rumors started brewing in the media fearing for the worse.

For Howard, apart from the headache he suffered from the company’s recent losses, he knew the operation shutdown happened for right reasons. The losses and problems made him to take drastic measures for the company he built. In short, he ordered the shutdown because he cared.

Here’s the four must-learn best lessons from Starbucks’ shutdown in 2008:

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Things I Wish I Knew Before Becoming An Entrepreneur (9 Mistakes)

Entrepreneurship experience works similarly as treading the ‘uncharted waters’. You can never avoid making mistakes no matter how well-prepared you are.

Making mistakes are a natural process of every startup. What’s important here is to learn from it ensuring a successful business. So here’s my take at what I’ve learned from my e-commerce business Mirsky Mode startup:

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7 Reasons You Should Focus on Customer Loyalty

Loyal customers are a result of consistent positive emotional connection provided by your business. This leads to customer retention which, obviously increase your company’s profits.

Apart from increase in sales, here are 7 more reasons why you should focus on customer loyalty:

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5 Important Lessons I’ve Learned From Growing My Online Business.

Entrepreneurial experiences are filled with difficult challenges. Some feel the financial pressures, while others just could not cope with the stressful life of having to sacrifice everything.

My startup of Mirsky Mode was no different. It was filled with ups and downs. The important part here is what I’ve gained from those experiences. Here are top lessons I’ve learned:

Help Comes From The Unexpected

When I set out Mirsky Mode, I really felt I knew where my customers will mostly come from. I’ve done the marketing analysis, identified my target demographics and the best methods to reach my products to them.

I did not spend much on marketing and advertising (too expensive), and so relied heavily on my PR Strategies. So much information was shared within my family, their friends and my friends, their friends’ friends and forth. I expected much sales will come from them. Dead Wrong.

Six months into business, I learned to hard truth. While my family members were mostly onboard (not shocking) but NOT my friends. Not many of them were into the idea. Some felt the idea was too generic. Some even put my emails into spam box (yup). Some even gave me the hint that the business has no future. Some did give me the support and purchased the products but the number was just too low.

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