3 Things we can Learn from Amazon
Amazon has come a very long way from its very humble beginnings. They have become one of the world’s largest online retailers with the potential for further development. Many have tried but failed to reach the great lengths which Jeff Besos- the CEO and founder of Amazon- has reached.
This doesn’t mean that you shouldn’t aspire to have similar success with your business. Think big and dream big, just like Besos. There are a few things you should keep in mind before you go off thinking that it’s easy to create a monster of success. It’s not an easy journey and there will be many days of hard work and nights of no sleep.
If you’re all about committing to your business and your brand, then take a few notes from the company that inspires so many:
Don’t be Afraid of Diverging
Jeff Besos established Amazon with the sales of books. No, it’s not a joke. Amazon was predominantly a place where you could purchase books to read. Keep in mind that this was before the era of Kindles, Nooks and other sources of e-reading. Audible didn’t even exist at this time. Many were able to purchase their highly demanded books through the site. Throughout the course of time, they were able to incorporate DVD’s, CD’s, videotapes and software into the mix. Next came the apparel, consumer electronics, beauty products, baby products, personal care, jewelry, kitchen items, etc.
Their expansion went into servicing where they deliver within two days, offer fresh food deliveries and created their own brand-featuring products such as the Kindle and the Alexa devices. Amazon was not afraid of spreading their products and services in several directions without abandon. This willingness to continuously improve and diverge into various product lines, while keeping it all online was quite the introduction to those who’ve lived years without having this type of retail experience.
Listening to the People
Amazon sees the desires of their customer-base as opportunities to continuously grant their wishes. As a business owner, it’s important to always try to appease your customers. Amazon presented their users with Amazon Prime, which delivers purchases within 2-days. They also have life-simplifying devices such as Alexa (an intelligent personal assistant), AmazonFresh (the delivery of groceries right to your door) and Amazon Web Services (a cloud computing system). All of these initiatives are inspired by Amazon’s quest to fulfill their customers’ every need. By supplying all possible products and services to their customers, they have the ability to retain as much business as possible and blowing their competitors off to the sidelines.
Stay In-Tuned with Technological Developments
As we plummet through the never-ending technological developments, the key to staying relevant is to go along with the changes. Jeff Besos took full advantage of every possible opportunity he could to create a synchronization between his company and the latest technologies available to him. If he never took the initiative to create electronic devices that cater to his massive following of dedicated customers, then he could have lost out on sales. A company that lacks the skills of innovation and expansion will rarely get very far in any industry. Products and services must keep up with the latest and greatest to be on the radar of consumers. Don’t let comfort and familiarity hold your company back from becoming bigger and better than you could possibly know.