Secrets Behind The Success Of Jeff Bezos
Jeff Bezos is the Richest man on earth though Bill gates beat him again just in couple of hours.
However we can call him as one of the most successful businessman .
At first Amazon was only a online book seller company. But with brilliant business tactics, Jeff made his company (Amazon) as one of the best online marketplace.
But what’s the secret of his success?
I have some thoughts on that,
1) Jeff Bezos thinks that he is the smartest guy in the room and has no qualms letting everyone else know (“do I need to bring the piece of paper that states I am CEO”?)
2) Many of his secrets to success go against conventional business wisdom. For example Jeff thinks consensus building is bad because it curtails big ideas.
2) When Other companies worked hard to charge the customer more and more , Amazon worked and working hard to give the customers the best service within less charge”.
3) His company Offered the greatest selection of brands and products at the lowest price possible.
4) Mr Jeff bezos has a good knowledge on consumer behavior. He knows that most people searches cheap and would rather save $10 on a $100 pair of shoes to get it on Amazon in 2 days than buy it at other market places .
5) There are several famous American brands that have been put out of business or acquired because of the sudden massive growth of Amazons popularity and his futuristic thoughts along with business brilliance. I don’t see anything changing in the near future. Because Amazon already established itself greatly in worldwide with its great policy.
7) In Amazon Anyone who wants to propose a new idea he/she must write his thoughts into a 6-page document. Before making any decision , they discuses with Bezos.
8) Bezos loved to take risks. Before starting Amazon , he used to do a decent job.But he left the job and started his dream with all of his savings.
9) But above all i think Jeff’s secret to success is his futuristic ideas , as he had the first thought of how business will be done in the future.
Though It was about to happen according to peoples needs , but we have to give him credit for becoming the first one to do it in a big way.
As i have mentioned earlier that at first Amazon used to sell books in online .
But Jeff Bezos’ unique way of thinking long-term and taking smart risks has made Amazon into the company it is today. He is the best example of the famous saying : Hardwork Pays off.
There are so much to learn from him
*focus on customers,
*stay hungry and be frugal,
And most of all leave the past in the past , and focus on future.
The theory of success is to work long, hard, and smart, with no compromises at all.