Amazon is the world’s largest digital retailer and has grown immensely in recent years. The founder and CEO of Amazon Jeff Bezos are on his way to becoming the world’s first trillionaire – but how did he do it?
Bezos started Amazon in 1994 in his parents’ garage, back when people did not put stock in the longevity of the internet. Bezos had faith, and more importantly, he had a vision for success that turned him into the household name he is today.
1. He was able to comfortably take risks
Unlike many entrepreneurial success stories that start with someone quitting their job of dropping out of college, Bezos left a stable career to launch Amazon. This meant that if the company failed, he could go back to regular work and live a comfortable life. Having this backup plan meant that Bezos could take the risks that others wouldn’t.
2. He focused on brand perception
While everyone talks about the importance of pleasing the customers, Jeff Bezos took it to heart and focused on making sure his brand was synonymous with convenience. He knew the core thing his target audience wanted (an extensive range of products, fast shipping) and made sure that Amazon always met those demands. Now, people prefer to go to Amazon for online orders because of their reputation.
3. He made a long-term investment in his company
While many businesses focus on maximizing short-term profits, Jeff Bezos knew that he wanted to have something that would be sustainable in the future. He started by making Amazon the king of online book sales before he moved into other areas, even if doing so would have earned his company more cash early on.
As you can see, there’s no doubt as to why Jeff Bezos and Amazon are so successful.