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Jeff Bezos is one of the world's most respected celebrities, who made a great impact on the lives of people with their enchanting works. By setting up Emzan.com, he changed the way people shopped. Whatever you need, order online and the accessories are available at your doorstep, that too at cheap prices from the market. Yes, the same Jeff Bezos, who was born from a minor mother's womb and at the age of eighteen, whose father left him as a destitute and went away. Those who studied in the umbrella of Souled Dad, staying in Nana learned the technology and then left the attractive job and jumped into the online business. Established Amzan.com from its garage, and on the strength of his hard work, became a prominent Matt Kam entrepreneur and a billionaire. Amzan.com is not only America, but also the world's largest online retailer! In this post, you will know how Bezos worked hard to start the company and how Amazon.com company was at the peak of success! These posts can prove to be business tips for you in a way, so let's talk about Jeff Bezos!
Think long-term: Jeff Bezos says, "If you think about the long-term, you can make good decisions about life, which you will not regret later." Jeff Bezos has always followed long-term thinking and 'minimum remorse' policy. While doing any new work, Bezos does not think about instantaneous profit-loss. They use foresight and think about a long time , Even if there is a loss in the near future.
When Jeff Bezos was thinking about leaving Job and starting Amazon, he decided on the basis of 'Minimum Repentance' policy. He thought that at the age of 80 he would not regret leaving the job; But it would be a pity that they did not take advantage of online gold rush. He later said, 'I knew that if he failed, I would not have pity him, but he knew very well that he would always be sorry to not try.' So he tried ... and reached the peak of success!
Innovation: New work is the easiest way to succeed. The original mantra of Jeff Bezos's success is that he started a new job of online selling of books. Not only this, after this, they did new work. On their website Amazon.com, they added several new specialty couples, such as One Click Shopping, Customer Review and Email Order Verification. Jeff told Bezos, 'It is dangerous to not grow.' He constantly innovated and developed. Bezos encourages its employees to do a new job. Many new jobs are effective, so many fail also. Like in 1999, the concept of auction service was completely unsuccessful through Amazon Oakson, but Bezos says, "We move on very dark roads and sometimes we find things that really work."
Low margin and higher volume policy: Margin i.e. profits. If you sell goods worth Rs 10, then the margin is low. If you sell it for 15 rupees then the margin is more. Most successful companies run on lower margins and more volume policy. This is also Amazon's policy. Jeff Bezos believes that in the higher margin the man becomes lazy. To succeed on lower margins, you have to work hard, it has to be efficient. Amazon focused on reducing costs and increasing efficiency, so that customers can get the goods in a lower price. The advantage of this policy is that more customers are attracted, customers buy goods repeatedly, oral propaganda and a good image of the company. Thanks to the low margin policy, Amazon has created such a big business. In the beginning Jeff Bezos created a business plan, In that he had predicted that the company would not be profitable for five years. The company's first profit was actually in 2001. Jeff Bezos has expressed this in a very interesting sense, 'Whether we are in profit or not, this is not the problem of our customers. We will not cut our customers 'pockets for our inability.'
Focus on customer service: In the business it is said, 'Customer comes first.' But the work of most companies is the opposite. Amazon has regarded customer service as a masterpiece. Bezos believes there is nothing important to the customer. So they go on low margin policy, customers feel dissatisfied with more margins. Bezos's vision of customer service is the biggest reason for Amazon's success, "If there is one reason, due to which we have performed better than our colleagues on the internet in the last six years, then it is that we have a customer like laser Have focused on experience. ' They also promoted the number of goods sold in the Amazon so that they could serve as much as possible to the customers. He said, 'Amazon wants to become the destination of e-commerce, where customers get everything they want to buy online.