Know When It's Time To Exit The Market

Stephens was also tempted to sell Geek Squad since he saw the rise of applications and the cloud on the horizon.

By the time the first iPhone was released in June 2007, Stephens knew that Geek Squad wouldn't be seeing nearly as many broken hard drives.

He said that, if he was starting Geek Squad today, he would have it focused around the Internet of Things rather than PC support. Stephens also said he wouldn't put any phones in the store and would instead have Geek Squad agents accept orders exclusively through social media or text. 

Stephens left Geek Squad and stepped down as Best Buy's chief technology officer in March 2012.