Debbi Fields Revised Essay (INDS Assignment #2)

The entrepreneurial venture in itself is inspirational because it allows individuals the freedom to capitalize on their personal dreams and aspirations. Many Americans define success as the accumulation of monetary wealth. This desire for financial prosperity can be achieved through various means. Entrepreneurship offers the possibility for immense personal fulfillment, and success, in the face of financial risk. There have been many great entrepreneurs that have shaped American society. One in particular, Debbi Fields, built a successful business through passion and dedication. Her relentless desire for personal fulfillment drove her to establish Mrs. Fields Bakeries in 1977, a company that today has over 2,300 locations around the world.

Debbi Fields is one of my favorite entrepreneurs because she built a thriving business from a simple idea. She faced many obstacles including an non supportive husband and family, lack of business experience and a need for financial backing. She was married to Randy Fields at the age of nineteen and took on the role of a housewife. Baking cookies was a hobby that she passionately enjoyed. Social gatherings were not of particular interest to Fields because she felt her role as a housewife was met with condescension. One particular eye-opening experience occurred at such a gathering. Fields found herself in the library with a successful man who inquired as to what she wanted to do with her life. Her response was that she “wanted to get orientated.” He walked over to the bookshelf, threw the dictionary at her and said “if you cannot speak the English language, then just don’t. The word is not orientated it’s oriented.” Fields felt humiliated and went about changing her status within society. She knew her talent was baking and became determined to achieve personal success doing something she enjoyed.

Life is an emotional roller coaster. One day we are invincible and the next we feel insignificant and worthless. The key to success is not accepting defeat. According to Debbi Fields, “the greatest failure is not to try.” Her family felt that she would not succeed and that she “had no business in the cookie business.” Financial backing was very difficult to secure. Many banks were not willing to support Fields based on market research. Statistics found that consumers had a strong preference toward crispy cookies. Fields’ cookies were unique in that they were soft and larger then average size. After searching the yellow pages and being repeatedly turned down, she found an investor. Fields agreed to pay 21% interest on a loan for the chance to open her own business. When Mrs. Fields Chocolate Chippery opened on August 16, 1977 it was not an immediate success. Fields faced further discouragement from her husband when he bet that she would not make $50 in sales by the end of the day. Toward mid-afternoon, Fields was losing the bet so she decided to go into the streets, handing out free samples and personally promoting the business. By the end of the night she reached $75 in sales.

Mrs. Fields expanded during the next six years, operating 160 cookie outlets by 1984. The growth of the company demonstrates the insignificance of “real” numbers when identifying a marketing segment. Fields’ product was incompatible with the established data however the continuous innovation of soft cookies were a large success. She did not make an attempt to create a target market but instead used informed intuition to target each customer individually. Image characterizations were useful in identifying market behavior to further the growth of the company. Debbi Fields sold to residents within a few mile radius of Palo Alto CA. Her customers were very similar to those in the existing market of bakery consumers. Age, income, race and sex were not limited because the product was inexpensive and available. She referred to her customers as “cookie people,” which is a very ambiguous description. Debbi Fields would sell her cookies on an individual basis, which created “bowling pin potential.” Her cookies would infiltrate different niches through word of mouth promotions and free samples.

There were many factors that made expansion possible for the business. Within the first few years, Mrs Fields’ Chocolate Chippery changed its name to Mrs. Fields’ Cookies. This was done in an effort to diversify products beyond the traditional chocolate chip cookie. The initial success of Mrs. Fields Inc. was the product and service provided by the business. The cookies were affordable, which was beneficial to consumers because price and time are two main constraints when making a purchase. The residents in the area firmly supported the business and would drive miles to acquire the product. Eventually, Fields decided that it was necessary to open up additional stores in adjacent counties. This expansion was under the financial advisement of husband and economist, Randy Fields. The success of Mrs. Fields Inc. deteriorated his initial skepticism and he became an instrumental part of the business. A major breakthrough for the company occurred in 1989 when Debbi Fields decided to use state-of-the-art technology to streamline production schedules and operations. This technology was unmatched in the food industry and allowed the company to surpass the competition of local bakeries and snack vendors. Today, Harvard uses Mrs. Fields’ Inc. as an example of the successful integration of technology into business. Fields’ was an early adapter in the technology adaptation life cycle. She found a breakthrough technology that provided a leap forward for the company. Operating in this window made Mrs. Fields Inc. the success that it is today. The following year, in 1990 Fields decided to franchise the company. Six years later, Mrs. Fields’ was bought by Capricorn Holdings a company that additionally owns TCBY, The Great American Cookie and Pretzel Time. The main competitor at this time is Antie Anns Pretzels. Debbi Fields has worked in sales, management, product development, brand name management, and public relations. Today, she is a consultant and spokes woman for Mrs. Fields Original Cookies. She gives seminars around the country and sits on the board for the Outback Steakhouse and The Orpheum Theater.

Debbi Fields did not have a college education or any business experience when her venture began. She decided to capitalize on the thing she knew best, cookies. The technical skills required to bake cookies are very limited. Human skills and the insistent desire to achieve success were the primary components to Mrs. Fields. Debbi Fields had a unique way of hiring employees. Her hiring strategy included, making the applicant sing Happy Birthday in the middle of a crowded store. She wanted to ensure that her employees were personable “cookie people.” Fields unknowingly utilized many management practices that are studied today. The bottom line is that she made millions of dollars selling cookies. Debbi Fields is the embodiment of entrepreneurship at its best. America is a symbol of freedom and opportunity. Even those without formal education and elaborate technical skills can develop into a national icon and achieve personal success.

WORKS CITED:
Carmichael, Evan. 2008. Debbi Fields: The Cookie Connoisseur. Famous Entrepreneurs. http://www.evancarmichael.com/Famous-Entrepreneurs/1558/summary.php

Moore, Geoffrey A. 1991. Crossing The Chasm. HarperCollins Publishers. New York, New York.