Effectual Entrepreneurship, Third Edition
Practically Speaking
Stacy’s Pita Chips
This food business was built on literally thin resources without external funding and turned it into serious dough.
Entrepreneur: Stacy Madison
Entity: Stacy’s Pita Chips
Country: USA
Pages 207-218 in
Chapter 13 Using Slack for Bootstrap Financing (pp. 207-218)
"Who I am, what I know, who I know
The year is 1996. Stacy and Mark are a couple, living in Boston. Mark is a psychologist and Stacy a social worker. They both have experience in the Californian food industry, having worked in restaurants. They know trends in the US often move from west to east They believe Boston might soon acquire an appetite for Californian style food. They are strong believers in the healthy diets they experienced in the West They know they want to be their own boss. Together they have debt of US$370,000. Mark and Stacy are attracted to the food/restaurant business. Ideally, they would like to start a healthy bistro, but that dream is squelched by their debt and the lack of enthusiasm by their immediate family to support the venture. So they start selling sausages and hot dogs from a pushcart in the streets of Boston. It isn't exactly the healthy diet they had in mind, but it is a profitable and cash positive living.
What should they do next?"
Under Construction: Join Us in Co-Creation!

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
.png?width=200&height=82&name=Effectuation%20Extended%20Logo%20(200%20%C3%97%2082%20px).png)