Jeff Bezos is the first man in the history of humankind to reach the 100 billion dollars threshold. If you’ve been living in a cave for the last two decades, here’s a little history about Bezos.
Jeff Bezos is the founder of the most successful online store – Amazon. In the late 90s, he started selling books and then decided to scale up the business and invest more in every industry around the globe. Today, Amazon is dominating the online world and Jeff is the wealthiest man on earth. It’s always interesting to read or listen to Jeff’s interviews because he never disappoints. Let’s see his top 4 rules of success.
Invest more in a product
Jeff believes that the product always beats marketing. If you decide to market a bad product you can make sales but you can’t reach the top. People still love quality products and marketing can’t take that away. Yes, Jeff loves marketing but he thinks that it’s just better to invest in the quality of the product. Jeff feels that a quality product would be a massive success even without huge marketing campaigns. As for the starter entrepreneurs, they should focus more on the quality of their product. If you are developing a new service or product, start by first concentrating on customer love – all customers love high quality products, the rest is on “word to mouth”.
Follow your heart, not your head
When Jeff was starting Amazon, he asked borrowed money from his parents. He believed in the World Wide Web without any evidence. That’s why you should follow your heart and passion. If you follow your heart and never give up on your vision, success is guaranteed. Jeff had no guarantee in the 90’s and people were still looking at the internet with skepticism. As you see, Jeff followed his heart and never gave up and now Amazon is the biggest online marketplace ever created.
Have no regrets
Do you think that Amazon has never failed? You’re wrong if you do. Amazon had lots of products that failed or never reached the financial goals of the year. Amazon is not only an online marketplace but Jeff’s team has invested in tons of products and services. Some of them were a success while some of the products crashed hard. In one of his latest interviews Jeff mentioned that he has no regrets. Business, as a life, has a learning curve so you should not have any regrets. The past can’t be changed so entrepreneurs must focus only on the present and the future.
Focus on the customer
Amazon is very popular. Do you know why? Jeff’s team is working hard on satisfying the customers. Ten years ago, no one could believe that you can get a product delivered to your home in just 1 hour after ordering it. Today it’s possible thanks to Amazon, Jeff and his hard-working team. Bezos is transforming the industry and it’s happening right in front of our eyes. His belief in customer service is so strong that you can only find a few people around the world how aren’t happy with Amazon’s customer support. Invest in the quality of your product and focus on customer service – that’s the way to the top.