Effectual Entrepreneurship, Third Edition
Practically Speaking
Printed Surprise – The Start of Staples
No printer ribbon on the weekend becomes the beginning of a chain of office supply stores later valued at billions.
Entrepreneur: Thomas Stemberg
Entity: Staples
Country: USA
Pages 265 in
Chapter 16 The Lemonade Principle: Leverage Surprise (pp. 257 to 276)
"A terrific example of the role of contingency in a new venture can be found in the history of Staples, the discount office supplies superstore. It was 1985, the Thursday before the July 4 holiday weekend in the US. Having recently lost his job working for a supermarket, Thomas Sternberg was formulating a business plan for a supermarket chain when he ran out of printer ribbon for his printer.
When he went to local stores to buy a new printer ribbon, he found either they didn't have the ribbon he needed, or the store had closed early for the holiday weekend. The simple information that printer ribbon was unobtainable triggered an idea for Sternberg. In a later interview with CNN, he said, "It dawned on me that not only could small entrepreneurs not get stationery at the rate of bigger companies—sometimes they couldn't get it at all.""
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Video Resources
References & Links
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- Howard Schultz. (n.d.-a). Schultz Family Foundation. Retrieved April 20, 2025, from https://schultzfamilyfoundation.org/team-member/howard-schultz/
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- 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/
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- 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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