I am, admittedly, a Starbucks junkie. It’s an expensive habit, so I’ve got a home set-up to minimize costs: a mini Nespresso machine for my Starbucks espresso pods, a milk frother, and the actual Mocha powder that is used by Starbucks. It never quite tastes the same as it does in the store, but I suffer through it. (I mean, doesn’t everything taste better when it’s made by someone else and served to you?!!)

When I lived in Denver, I used to love going to my local Starbucks and getting some work done while sipping my Mocha. (Pro tip: While I haven’t been there in years, the Starbucks at 250 Columbine Street is very entertaining for people watching, first dates, and bros becoming best friends. I saw it all!). While it’s not as convenient to get to Starbucks now that I live at the top of a mountain, I used to occasionally work from our local store. Now I rarely do. I couldn’t quite figure out why, but this article brought it to light: “How Starbucks De-Valued Its Own Brand.” The article says clearly: “Going to Starbucks isn’t what it used to be, and the brand itself isn’t what it used to mean.” Much of the human touch and comfort that Starbucks used to offer is gone. No more comfy chairs. No more hand-written names on the cups. I remember reading, “How Starbucks Saved My Life” in 2014 and thinking that it is a great company. 

The enamour is gone. I don’t feel like a valued customer any more. It means that Starbucks will get less money from me – and thousands or millions of others. When I worked in the store for an hour or so, I typically would also get something to eat. I don’t do that anymore. I used to love holding business meetings at Starbucks. The last time I did that, the store had transitioned: it used to have plenty of seats and parking, but it had turned into a “walk-up only” location. Now I don’t trust suggesting Starbucks as a meeting place. 

Starbucks has an opportunity to take a step back. Talk with its customers. Help them feel appreciated again. Give them the personalized experience that we all used to enjoy. I suspect that their earnings will re-bound. 

It’s also a good reminder for the rest of us, regardless of whether our business is small or large or somewhere in-between: customers want to feel valued. That means being adaptable. It means listening carefully – especially when you ask for and receive feedback. It means looking well beyond your bottom line. It means exceeding expectations because you care. And it means personalizing the experience every step of the way. If that is not the way you approach success for your business, you’ll probably find yourself in the same position as Starbucks: waning earnings and disgruntled customers. We can all be better than that.