10 Best Things You Can Learn From Amazon’s Jeff Bezos in Business or Life
Introduction
We can argue that Amazon is the most successful retail business in the whole world. But, is Amazon’s success just pure luck? Or is there a “Secret” that has a huge factor in their success?
The secret we can think of is its founder and owner, Jeff Bezos. In this article, we will list down the 10 Best Lessons You Can Learn From Amazon’s Jeff Bezos when it comes to business and life.
And how he was able to achieve the success of Amazon, we will try to understand his ideas and mindset, and how did it help him to be where he is right now, One of the richest man in the whole world. With that being said let’s get right on to it.
Photo by © Erik Pendzich—REX/Shutterstock.com
Media Title: Jeff Bezos
Media Type: Image
Website Name: Encyclopædia Britannica
Publisher: Encyclopædia Britannica
Url: https://www.britannica.com/biography/Jeff-Bezos/images-videos#/media/1/63826/233940
Access Date: May 27, 2021
Who is Jeff Bezos?
Jeff Bezos is born in 1964 in New Mexico, at an early age, Jeff showed passion and love when it comes to the computer which led him to take Computer Science and Electrical Engineering at Princeton University.
After earning his Bachelor’s Degree, he decided to work on Wall Street, and in 1990 due to his perseverance and diligence with his job he became the youngest senior vice president at the investment firm called D.E. Shaw.
And then four years later, Jeff decided to quit his job despite his great earnings from this. And on July 5, 1994, Amazon.com was founded, an online bookstore that later was recognized as the “Earth’s Biggest Bookstore“.
Now, Amazon is the world’s biggest retail store. Offering up to 12 million different products in their product catalog which if you expand it will be close to 350 million products in total.
Trivia:
Amazon’s logo showcases that they offer products that start from letter A up to letter Z.
That is why there is a curve arrow below the word “Amazon“. Pointing from letter A to Letter Z.
10 Best Things You Can Learn From Amazon’s Jeff Bezos
A brand for a company is like a reputation for a person. You earn a reputation by trying to do hard things well. – Jeff Bezos
Jeff Bezos taught us that branding is an important aspect of a business and that it reflects the hard work that you put into it. Just like how Jeff Bezos established the brand of Amazon.com, it just shows that branding also reflects the perseverance of the owner/founder of a business.
We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient. – Jeff Bezos
One of the things that Amazon is well-known for is its customer-centric approach to business. As a matter of fact, Jeff Bezos is very clear with this in his past public conferences that they “Start with the customer and work backward”.
What it means that they focus first on their customer’s needs and pain points then they figure and work out the process towards Amazon’s endpoint.
And aside from their customer-centric approach, Amazon really did a great job to reinvent the services that they offer and their processes. Reinvention is a huge factor in all businesses as change is constant.
Hence, you have to aim for that continuous improvement and development which is achievable when you keep on reinventing your business and this applies in life as well.
The common question that gets asked in business is, ‘why?’ That’s a good question, but an equally valid question is, ‘why not?’ – Jeff Bezos
We always hear or read about what most successful businessmen say about taking risks. Why is that? Because one reason why they became successful is that they took the risks that other people are afraid to take.
But why is it that taking risks is important in business or life? Because the future is unknown, it is like a long bridge covered with a thick fog and you will not be able to see what lies ahead.
And the only way to find out is to go through that thick fog hoping and keeping your faith that everything will be alright on the other side of that bridge.
Taking risks will result in two options, Failure or Success. If it’s successful the rewards are fruitful and fulfilling. And in case we fail, we should consider it as a lesson and keep moving forward. Either way, we can learn from both results which can help us do the right decisions in the future.
Those successful businessmen also experienced failure. The difference is that they took it as a learning experience and use it as a weighting factor to make calculated decisions in the future. And we must follow in their footsteps if we want to succeed in business on in life.
If you can’t tolerate critics, don’t do anything new or interesting. – Jeff Bezos
This is an interesting one, why? Because we live in a world that people overuse the “Freedom of Expression” which makes the people around us are either good or bad critics.
We cannot deny that in everything we do people tend to criticize us, our works, or even the decisions that we make. However, if you think about it? Why are they criticizing us? Is it because we are taking action on something and they are seeing something new to their eyes or comprehension? Or maybe they are just frustrated that you have the guts to take action which they are afraid to do so?
Regardless, we should accept criticism and we should be proud of it in some way. Because they are noticing your new actions and ideas. And even if they force themselves not to, they are reacting to the actions that you are making, right?
Who cares, they can criticize you for what you do or for what you are. But they will not experience the fruits of your labor once you succeed. “Silence the haters with your success.”
The special ops guys and the firefighters around the world have this great phrase. They say, ‘Slow is smooth, and smooth is fast,’ and that is true. Everything I’ve accomplished in my life has been because of that attitude. – Jeff Bezos
You probably heard the phrase “Slowly but surely“, right? Well, Jeff Bezos believed in that idea and he mentioned that idea help him to be successful in life and business.
Sometimes we tend to lose patience with whatever we are doing. Regardless, if it’s about business or something related in life. However, just like how Jeff Bezos believed that we must be patient and we should take it slowly one step at a time.
Actually, it is an advantage if you think about it because advancing at a slow pace you will be able to analyze your approach. Therefore, you can tweak it making it much more effective.
Another thing to remember, in life, there is a certain period where everything that was meant to happen will happen. So trust the process and keep on holding to your faith and hopes as the right time will come eventually.
What’s dangerous is not to evolve. – Jeff Bezos
Do you believe that continuous improvement should be constant? You should be, why? The world is changing consistently, as well as the needs and wants of people.
Therefore, you need to improve so that you can catch up with the changes that are happening. Otherwise, your knowledge and skillsets will be left behind and you will be obsolete.
As for Amazon, they proved to the whole world that they are consistent when it comes to continuous improvement. Look at the products and services that Amazon is offering right now.
They managed to evolve from being the world’s biggest bookstore into the world’s biggest retail company. Imagine that, if Jeff Bezos didn’t have the guts to take risks, Amazon wouldn’t be able to succeed.
And this is one of the mistakes of some people because they tend to be contented with “Ok“, which means they are now complacent, being complacent holds you back to unlock your other potential, and failure to unlock the potential means you are not evolving and that is bad for business.
If you do build a great experience, customers tell each other about that. Word of mouth is very powerful. – Jeff Bezos
Good customer experience is very vital in business, as it reflects the quality of your brand as well as your business. This was proven effective by Amazon.
And as mentioned, Amazon believed that the word of mouth is powerful. Therefore, providing an excellent customer experience will surely benefit your business.
That is why it is crucial because “Word of mouth” is somehow a double-edged sword. If the word of mouth is good, then it will be good for your business. But if it is bad, you will be in big trouble.
Yes, bad publicity is still publicity, but having bad publicity will drag your business down. So as a business owner, you should always think like a customer, you must put yourself into their shoes to further understand their pain points and their needs.
If you only do things where you know the answer in advance, your company goes away. – Jeff Bezos
In business and even in life having a fear of the unknown and uncertain is inevitable. It is part of us being human since our mind perceives according to what we can see and what we know.
However, letting those fears of the unknown and uncertainty take over our mindset will hold us back to explore and learn new things. Which can lead to regret for not having action towards it.
Just like what Jeff Bezos believed, if we only act on the things that we know, we cannot improve and we cannot unleash our full potential. If applying to business, our businesses have their unique potentials and we cannot foresee what our business will be in the future if we always hold back, and just act on what our vision shows us.
To unlock one’s potential and even your business, you must take risks and continue to explore. Because exploration unlocks new learnings, new learnings lead to acquiring new knowledge, acquiring new knowledge leads to improvement, and improvement unlocks the full potential.
Great industries are never made from single companies. There is room in space for a lot of winners. – Jeff Bezos
The great thing about companies like Amazon is that their success is also the success of other businesses. Why? Because there are a lot of small businesses which are contributors to Amazon’s product catalog.
If you read one of our articles about the 13 Principles of Success: The Ultimate Secret of Successful People. We mentioned something from the book Think and Grow Rich by Napoleon Hill. The Second Principles of Success: The Mastermind Alliance Principle.
“This principle focuses on the alliance with other people. Successful people do not operate on their own, they find a partner that can help them progress and vice versa as their partnership improves until they achieve their goals.”
Similar to what Jeff Bezos believed, we must seek and reach out to other businesses to help each other and build each other’s business. Because there is always room for other people who are willing to take risks and take actions to achieve their goals in business.
Take this example from the bible, even God made the counterpart of Adam so that he can have a partner to expand and build. So if you want to be successful? Learn to share a space for other winners.
KG Collections also believed in this that is why we are opening our doors for reselling/dropshipping partnership, because we also want to help other small businesses like us to be successful. Interested in partnering with us? Check out our Partner With Us page. Or email us at admin@kg-collections.com.
My own view is that every company requires a long-term view. – Jeff Bezos
Last, on our list of the 10 Best Lessons You Can Learn From Amazon’s Jeff Bezos, is about having a long-term vision and a wider perception of things.
Why is this important? Because having a long-term goal whether in business or life is crucial. Vision is the long-term goals of a business and even individuals, so if you limit your vision you are simply limiting your goals, which you have the freedom to dream and achieve something more.
Don’t misunderstand, it is never a bad thing to limit your goals. As a matter of fact, you should have separate goals (Short-term and Long-term). What we are trying to say is that we should have a clear and achievable goal which you can only do if you set goals separately like short-term and long-term goals.
This is even mentioned in Marketing Classes and Marketing books. I remember there is an abbreviation called S.M.A.R.T in the topic of Setting An Effective Marketing Objectives.
Author: Dave Chaffey
I remember during the time that I was still taking up my Bachelor’s Degree in Business Administration, Major in Operations Management. In my Marketing Subject which was taught to us by Ms. Christine Saturno.
She taught us this method which stuck in my mind because I considered it a piece of very valuable information that I can use in the future. And Voila! It is one of the key ingredients that we are using in our business strategy right now. And I am truly grateful to Ms. Saturno because of this valuable information.
Conclusions
And that concludes our list of the 10 Best Lessons You Can Learn From Amazon’s Jeff Bezos, we hoped that this will inspire you whether you use it as an inspiration in Life or Business.
The success story of Amazon and even the other business should be a lesson to us since most of them started from scratch and they worked hard until they achieved those incredible results.
In all honesty, KG Collections was inspired by the documentary of BBC about the back story of Amazon, we admire the story of Amazon and how they were able to expand exponentially.
Therefore, KG Collections is thriving for continuous improvement and continues to learn more new things. We will continue to take risks until we get the result that we are hoping for.
Our approaches might fail at times, But it will never stop us to innovate and explore new ideas to help us improve so that we can help the online shoppers by providing relevant product recommendations to help them save money.
Hopefully, someday we will be able to establish a community for small businesses and teach them and inspire them not to give up and continue to move forward. Because we believed that each and every one of us has the freedom to dream big and achieve those dreams for ourselves and other people as well.
How about you? Do you have an inspiring story about Amazon? Share with us in the comments section. If you liked our articles, please consider subscribing to our newsletter so that you will be notified every time we post new content.
Author: Carlo David
KG Collections is an online store on Facebook, Established on April 15, 2020. Primarily, We started selling Pre-loved goods which eventually expanded to sell brand new apparel through reselling.Now, KG Collections is a franchisee of Siomai King, Mangbok's, And other food products. We are also a franchisee and operator of the newest delivery platform called TokTok PH.Aside from franchise and reselling business. KG Collections also participates in multiple affiliate marketing programs, content creation, and online course teaching.KG Collections is managed directly by the owners Kathlene Garcia & Carlo David, the couple's goal is to build a business community for small business owners where they can attain new knowledge and be inspired with their businesses.The organization will also launch its online course programs to help the public learn new things, which the courses will be prepared by professionals who have excellent skillsets to share and teach the enrollees.-KG Collections
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