“If you build a great experience, customers tell each other about that. Like VERB he relied on the service he provided and the belief that people would spread the word of the quality of his work. Focus On Organic Growthīezos did not have a budget.
We place a great importance to having perfect client relationships and deem to retain these relationships. Since Amazon retail was founded in 1994, a time when computers were approximately the size and shape of a microwave, Bezos knew the recently founded internet would revolutionise the retail industry and soon people would be purchasing via the web.īezos avoided taking action at such an early stage because that would purely benefit the short term and he knew very well of the distances he wanted to reach with this innovative project.Īt Verb we focus on the long term goals. When the Amazon founder was asked if he is aware of his revenue growth, he replied saying: Think Long Termīezos focuses on long term effects. Even sports teams have to experiment to find the perfect chemistry between players etc. High performing companies like Amazon and Google do a lot of experiments, with Google Lab being the location for many of these. This is the birth of innovative ideas, which showcases the best of business competition with businesses rising or falling within a small period of time. Most industry leaders and experts will agree that experimentation is absolutely imperative to a successful business.
Jeff Bezos Founder & Former CEO of Amazon 2. “If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunity on the table.” He is well aware of all the potential consequences of a risk yet he does not mind: This way of thinking leads to “analysis paralysis” and inaction.īezos is definitely not one to fall into this trap. Many businesses tend to think with a risk averse view. Many businesses shy away from the idea of risk, although the positive outcome may have been a game changer for the company and industry. There is a common misunderstanding within businesses that usually affect their potential revenue.
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