As time pushes forward, so does technology. Over the years, many companies have spent astounding portions of investment money on things such as computers, smartphones, and, most especially, the internet. Today, just about anything can be done online. We can browse for information, read articles, watch movies, listen to music, talk to friends and family, and even go shopping! For the latter, among the many online market platforms we have today, it’s safe to say that Jeff Bezos’ Amazon stands as arguably the most recognized and relied upon. With the website running for more than two decades at this point, one question might come to many of your minds: how does he do it? Well, that’s what we’ll be talking about for this article. Now, without further ado, here are some things we learned from the Amazon founder’s approach to leadership.
UNDERSTAND THE MARKET PLATFORM YOU’RE WORKING ON
Before founding the online shopping platform we all know today, Bezos worked on Wall Street from 1986 to 1994. Thanks to the experience, he gained some degree of understanding about how the market works, how it behaves. This knowledge is made all the more apparent in the letter he wrote to Amazon’s shareholders in 1999, showing his awareness of the ever-improving nature of the internet and technology in general. Although at that point things weren’t as advanced as they are today, Bezos assured that he and the company would make the most of what they had, but if an opportunity for them to improve arose, they will take it without a moment’s hesitation. With this mindset, it comes as no surprise that Amazon, which was initially an online bookstore, is now a platform that sells just about anything.
KEEP THAT LONG-TERM GOAL WITHIN YOUR SIGHTS
More often than not, almost everything we do or pursue is pushed by a motive or a goal in mind. To achieve these, a plan is undoubtedly essential in helping us stay on track. Before thinking of all of this, however, we must first ask ourselves: will this be beneficial in the long run, and how long? For the Amazon founder, Bezos believes that, although immediate profits are good, long-term investments are what keeps a business going for many years. In his 2012 letter to shareholders, Bezos presents the notion that focusing more on short-term endeavors is a risky decision to make in this fast-moving world we live in. To overcome it, Bezos proposes to dedicate more time to plans that provide benefits in the long run not only to the company, but to their customers, as well. That way, the needs of both parties will surely be satisfied.
UNDERSTAND YOUR PLANS AND PROJECTS BOTH FORWARDS AND BACKWARDS
Chances are, many of us have found ourselves in a scenario where we are told to explain something to someone as if they’re a five-year-old, and vice-versa. This task may not seem like much, but in actuality, it shows us how much we understand the subject we’re talking about. If a five-year-old can have a firm grasp of what we’re discussing, then that means we know the topic both forwards and backwards. This is especially vital in business, and to Jeff Bezos’ credit, he is also quite skilled in this regard. One notable example which showcases the Amazon founder’s proficiency is when he explained the functionality of Audible, an audiobook service. When he introduced Audible in his 2013 letter to shareholders, Bezos summed up its work perfectly with only one sentence: “Audible makes it possible for you to read when your eyes are busy.” If a business truly understands its projects and plans, it becomes easier to promote and introduce them to potential buyers.
AND MOST IMPORTANTLY, STAY TRUE TO YOUR VISION
Since its inception, Amazon has remained true to Bezos’ vision for the company, and that’s to put the customer’s needs as the company’s top priority. After all, if it weren’t for them using his services, Amazon wouldn’t be as successful as it is today. In fact, in his 1998 letter to shareholders, the Amazon founder would even go to such a degree as to tell his employees not to be afraid of competition, but of their customers. Thanks to this firm grasp on Bezos’ vision, Amazon continues to garner millions of interested buyers and subscribers. With the number of people acquiring their services continually rising, it’s safe to say all their efforts have paid off. If a business stays true to its vision, then it will surely reach its goal in the end, and it will do so in spades.
Source: tachnik.com