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Schultz talked about the strategic
business decisions that had to be made as the
original concept and company evolved. But it was one
idea, one “less businesslike” principle that
commanded the attention of many. Schultz talked reflectively and humbly about
perseverance and tenacity as driving principles
behind the company’s great success in spite of
criticism and doubt about the concept from
observers, friends, and family members. Through the years, this essential idea of
persevering, particularly in the early stages of
introducing a new idea or product, has been at the
centre of numerous efforts by individuals and
companies to replicate the business success of those
who have gone before and “ made it.” However, the
idea is more complex than many may realize. It must
therefore be carefully considered in order to avoid
being defined and dismissed as simply “hanging on in
the face of adversity.” Perseverance has at its heart four parts. Research
into organizations and individuals who have
successfully applied it shows the significance of
all four parts and the interdependence of them all.
DETERMINATION
We have found that those who persevere have an
obvious gritty determination that is not swayed or
diminished in the face of adversity. This is neither
foolish hope nor unrealistic optimism. Rather, it
embraces realism and encourages constructive
criticism that challenges and refines the original
concept. Schultz’s Starbucks clearly demonstrates
the point. VISION
Those who promote their idea but don’t have a
commanding vision of its future – in vivid detail –
tend to have a higher overall failure rate. The
ability to see the possibilities for what lies
ahead, and use that vision to create enthusiasm and
excitement, adds immensely to the commitment to stay
the course through the inevitable ups and downs that
accompany new product launches. Darrius Bickoff,
founder and CEO of Glaceau Vitamin Water (recently
sold to Coca Cola for four and a half billion
dollars), talks regularly about becoming obsessed
with the idea of fortified water and of seeing how
his idea could become a major product success within
that industry. So clear was his vision that he took
the value of his concept from zero to billions of
dollars in a little over eight years. Add a
powerfully clear vision to the equation and, almost
instantaneously, perseverance becomes more
positively defined.
PASSION
Perseverance must have a component of passion. Time
and again, we see that those who passionately
believe in their idea and are fiercely committed to
it tend to be more open to meeting the challenges
and changes necessary to modify and move it to its
optimum performance level. In other words, they
refine and re-refine their idea or product to assure
their success in the marketplace and avoid the
mistake of just hoping the original concept works. A
Vancouver-based entrepreneur recently told me how he
had worked for seven years to get his survey company
off the ground, long after his supporters and, more
importantly, his financial backers had given up on
his idea. Everything inside told him to give up and
move on, but he couldn’t. “I was so invested in the
concept,” he said. “So passionately sure it could
and would work.” And work it did. He borrowed all
the money he could and even sold his car to keep
going. Then, at the beginning of his eighth year,
his first major client came on board. Within two
years, he was grossing seven million dollars
annually and, in the next three, grew the company by
thirty percent per year. Determination, vision and
passion together help define perseverance in its
truest sense.
EMOTIONAL ATTACHMENT
The benefit of perseverance is incomplete unless we
add the final concept of emotional attachment to the
mix. Most ideas are not wholly original and can be
copied with relative ease. The ability to make an
emotional attachment between the concept and the end
user significantly enhances the chances of success.
Schultz, of Starbucks, explains the idea in simple
terms. During a recent interview, he said that
copying the Starbucks business plan was not
difficult and had been done by many of their
competitors. The difference – the reason Starbucks
remains the best in class – is the feeling customers
get when they enter each store. That “feeling,”
Schultz says, is the connection between the concept
and the client that makes the Starbucks experience
stand out. Interestingly, it’s also the feeling
their competitors are now trying to mimic.
If, as many business leaders say, the difference
between success and super success is found in the
intangibles, then a serious example of this idea is
a combination of determination, vision, passion and
emotion which together make perseverance a winning
concept for every manager, leader and entrepreneur. |