Effectual Entrepreneurship, Third Edition
Practically Speaking
Ice Man Cometh
A rained-out ice sculpture festival almost sent this entrepreneur back to employment, instead he built his future with partners, one ice block at a time.
Entrepreneur: Yngve Bergqvist
Entity: ICEHOTEL
Country: Sweden
Pages 280-282 in
Chapter 17 Putting It Together: The Effectuation Process (pp. 277 to 286)
"A Hobby Becomes a Business
After five years working for a mining company in a town called Kiruna in Swedish Lapland, Yngve Bergqvist realized what he did not want to do with his life: work for a big company. His colleagues' lack of enthusiasm for the job grated on him. And he found it impersonal and unpleasant having people refer to him by his employee number.
Yngve was an outdoorsman, and as an outlet from his job, he took up river rafting. One day a tourist asked Yngve for a ride on the river. Suddenly, he was in business. He began going to the tourist office on weekend mornings and nearly always found clients. Yngve ultimately resigned from his mining job and gradually expanded the rafting business to 40 summer employees and 30 boats.
But summer in Sweden is short, and rafting on the Tome River in winter is impossible. For starters, the river is frozen solid. Yngve needed to find a winter business to complement his summer earnings. He had heard about Japanese tourists visiting Alaska in winter to see the Northern Lights (Aurora Borealis) and wanted to learn more."
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Video Resources
References & Links
- How Starbucks Became An $80B Business—YouTube. (n.d.). Retrieved April 20, 2025, from https://www.youtube.com/watch?v=XUBeH7VQaFY&t=50s
- Howard Schultz. (n.d.-a). Schultz Family Foundation. Retrieved April 20, 2025, from https://schultzfamilyfoundation.org/team-member/howard-schultz/
- Howard Schultz. (n.d.-b). Forbes. Retrieved April 20, 2025, from https://www.forbes.com/profile/howard-schultz/
- Howard Schultz. (2025). In Wikipedia. https://en.wikipedia.org/w/index.php?title=Howard_Schultz&oldid=1285405168
- Howard Schultz: An Overview of the Entrepreneur’s Career - 2025. (n.d.-c). MasterClass. Retrieved April 20, 2025, from https://www.masterclass.com/articles/howard-schultz-life-and-career
- hpeiper. (2018, September 4). Schultz to young entrepreneurs: ‘It can happen for you’. Starbucks Stories EMEA. https://stories.starbucks.com/emea/stories/2018/bocconni-university/
- Starbucks CEO Howard Schultz: How to Be Strategic Thinkers | Inc. - YouTube. (n.d.). Retrieved April 20, 2025, from https://www.youtube.com/watch?v=Q5Djl9_Xc3w
- Starbucks’ CEO Talks Business—YouTube. (n.d.). Retrieved April 20, 2025, from https://www.youtube.com/watch?v=83yInyY1KLs&t=152s
- Starbucks’s Howard Schultz: From Coffee Entrepreneur to Three-Time CEO. (n.d.). WSJ. Retrieved April 20, 2025, from https://www.wsj.com/story/starbuckss-howard-schultz-from-coffee-entrepreneur-to-three-time-ceo-439768fc
- Taylor, K. (2017, December 13). From Brooklyn to Billionaire: The Story of How Howard Schultz Transformed Starbucks Into an $84 Billion Business. Inc. https://www.inc.com/business-insider/howard-schultz-chairman-former-ceo-starbucks-successful-billionaire-coffee.html
- The Man Behind Starbucks Reveals How He Changed the World—YouTube. (n.d.). Retrieved April 20, 2025, from https://www.youtube.com/watch?v=LnA7n9qSB7E&t=255s
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