For Jeff Bezos, the unusual environment of childhood helped to create a fecund entrepreneurial mix of intelligence, ambition, and relentless need to prove him to the world. Growing up with his grandparents he learnt to do all kinds of chores, watched soap operas with them, and occasionally went on a road trip as well. He had been a garage inventor when he was a young boy and invented automatic gate closer with the help of a cement-filled tires, a solar cooker out of an umbrella and tinfoil, baking pan alarms etc. He wanted to be an inventor since he was a child which forced him to make very crucial decisions in his life.
He founded Amazon which initially only sold books. But then afterwards he added music and videos to it too. His work was motivated by what people wanted him to do so he expanded his selling brand for all kinds of categories. He has always been a combination of optimism and vision. He made Amazon the number one place to buy all kinds of products customers wanted. He has been investing in initiatives that were risky which other companies wouldn’t go for.
Following are the few approaches Jeff Bezos followed to make Amazon a success:
Preference for customers:
Jeff Bezos made Amazon completely customer-centric. He took care of his customers from the beginning and ignored cries from investors to become profitable at once. Instead, he invested in customer-centric improvements and helped the company to become most valuable on the planet.
He focused on innovating products:
There are not many websites that we know who invest a lot of amount of money to develop moonshot projects. But Amazon created Lab126 for such projects. It improved customer experience by innovation to get into new markets.
Hiring the creative minds:
Being a dominant supporter of creative techniques, Bezos encouraged his company to hire as many creative people it could. The company, therefore, hires rigorously and ensures that the persona has the ability to take the mission forward. This by far has been considered the single most elements for Amazon’s success.
Make right investment:
Jeff Bezos believe in spending money on the right things that are of importance to customers. For the company, the cost reduction has been an important component. The Door Desk Awards are given to eth customers who successfully identify areas of major savings. They are rewarded in recognition of innovation cost savings
Rigid work ethic:
He has created a company that honors work ethics. According to reviews, the high pressured environment has encouraged the workers to do their best for the company. A lot of focus is given to working hard and being able to challenge the problems that occur. The company has created a culture that rewards people for their hard work.
Via: Business Insider