Click Here To Join JalewaAds

Source: Agency

Jeff Bezos: The Key to Business Success

Sunday | 17.4.22 | Last Updated 2022-04-17T18:34:15Z

Jeff Bezos: The Key to Business Success

 This principle of business success, how Jeff Bezos, Amazon boss, you can learn and emulate, is the president, CEO and chairman of the board of Amazon, who is the first person in history to have assets worth more than $100 billion, and also the first person whose wealth has the potential to exceed $100 billion. one trillion rupiah. Jeff Bezos started the business when the internet was not yet so popular, but he believed in its potential, in an early interview, he talked about the internet as an unknown and imperfect world that constantly brings new surprises. In his business, Jeff Bezos and Amazon share the same motto: work hard, have fun, and make history, here are 10 principles of business success that you can emulate.

1. Create a culture

Find a way to make something unique, most businesses try to copy and use different places to imitate each other. Create your own unique culture that will be recognized, Amazon's culture is welcoming and vibrant, data is critical to Amazon, in-depth analysis, testing and customer reactions to options and proposals are carried out. Bezos calls it a "culture metric", the measurement carried out aims to improve the quality of service to customers, improve the "customer experience" and at the same time obtain economic benefits.

2. Focus on your passion

Like anything else, in business you must have a passion for what you do, without passion, business becomes mechanical, repetitive, and unfulfilling. Even if you make money, if you don't have passion, your energy and desire to act will be much less, without passion, your business or work will be a meaningless existence that begins at dawn and ends at sunset.

3. Dare to take risks

Sometimes you have to take risky actions, and you need to consider that there is always a chance of failure, in the case of a business, this could mean bankruptcy and withdrawal from the market. Taking risks means trying your best to hope for the best, knowing that something will go wrong, without risk, there will be no progress, however, the risk must be consistent with your business values.

4. Premium products at regular product prices

Most people will be surprised at how cheap their favorite product is, there are items that are very expensive because of the manufacturing process, but still most everyday products are made at relatively low prices, but are sold at a large markup. Amazon works with a large number of retailers to offer the highest quality products at the lowest possible prices, ultimately lower than Amazon's competitors.

5. Protect certain values

Define the values   you will live by, in terms of products, make sure your products are exactly what customers expect from you, when you run your own business, your words matter. And if you keep your promise, customers will appreciate it and will support you, a company that says one thing and does another will not stay in the market, because sooner or later customers will turn away from it.

6. Focus on customers

You own the company, you own the product or service, you focus on the most important element that contributes to the growth of your company, namely the customer. Pay attention to your customers' needs, listen to what your customers say and write, and take into account what they need, if they value your product and see value in it, don't forget to appreciate and thank them in return. A purely profit-oriented business doesn't create customer loyalty or enhance the customer experience and likely won't last long.

7. Invest more in your product than in marketing

The more you invest in a product, the more desirable it is, you want your customers to come back to you because you offer the highest quality product, not because the ads say so. Advertising is only as good as the product you are selling, meaning that if you sell a product that should be great thanks to advertising, but turns out to be bad, your business will not last long.

8. Don't be sorry

In business, you have to be able to move forward without thinking about the past and not looking back, sooner or later, everyone regrets something. However, to be successful, you must keep moving forward and not allow your thoughts to negatively affect new opportunities that can help you achieve your goals. Looking back is something you can afford when you achieve your goals, meanwhile, you have to remove regrets from your equation to be successful. Jeff Bezos lays out three core ideas that have guided Amazon for 18 years and made us successful: firstly customer-first, second-mindedness, and thirdly patience. Success in business can be fickle at times, with some succeeding and others not, despite their best efforts.

9. Choose a good name for your business

Many clients want something that stands out, shines, and grabs attention, an unflattering name for your business or product won't attract customers, your product will get lost among other products, and no one will notice. To increase your market success and add a little spice, choose a name that will inspire and attract potential customers, if your name gets buyers to pay attention to your product, you stand a chance to buy it. A brand to a company equals a reputation to a person, you get a reputation when you work hard for it.

10. Follow your heart, not your head

Too often your head and common sense tell you not to take risks, your subconscious will tell you how to operate safely in your comfort zone. And your heart will advise you to go to the end, rely more on your instincts and do what is necessary.

The hope of truly achieving success often boils down to doing things right every day, taking risks, keeping customers, and offering quality products and services. If you are in business only for profit and do not follow other values, your business will not survive in the long term.

Latest news Update