Amazon used to be known as an online bookstore but it never stopped from there. Because of Jeff Bezos’ vision, it was able to transcend in the online marketplace. It became a successful e-commerce site that sells everything. Behind the success are seven core principles and considered as a secret to its success. It wasn’t easy but with the support of everyone in the organization and effective strategy, soaring high has become possible. Learn these successful strategies here.
1. It takes a good leader and good management skills to ensure that employees work towards achieving the set goals and objectives. There are lots of management styles that you can think of. You can be an authoritative or democratic one but whatever it is, ensure that you stay focused on your goal. Jeff Bezos used his cleverness. Find that skill within you.
2. Innovation is a key to success. In Amazon’s case, it was indeed. Bookselling was doing well, but why didn’t he simply maximize on it? Remember that not all that stays successful today can retain its status weeks or months after. That’s why the organization must be innovative.
3. No one can argue that customer service is one of the primary factors that can drive any companies’ success. Amazon capitalizes on this. Its system included ensuring that Amazon sellers respond to customer inquiries within 24 hours; Amazon also helps in delivering the products just right in time and in the right place. Because of this, positive response from the customers spread throughout the internet; and word of mouth does not cost any advertising expense.
4. Effective execution. The actual number of inventory is shown so that when customers order, an accurate delivery date can be promised. Positive vendor relationships exist reason why competitive pricing is available.
5. It could be a risky venture but diversification has been favorable to many companies. The online book market has been saturated and so Amazon thought of diversifying its offering through extending its line to offering not just books but also other stuff that customers would love to buy. And it became known for selling everything online.
6. In trying new things or venturing into other business, fear could hinder someone to execute the plan. But Jeff Bezos was a risk taker. He did not fear anything in realizing his vision for Amazon. Take the risks, make a plan, and achieve your dreams.
7. Start with the right mindset. The law of attraction tells you that whatever your mind thinks about, you will attract it and the universe will conspire to make it happen. You need to keep pushing forward to excel in the business field. Amazon did experience both success and failures especially during the first few years of operation. But it did not stop. Instead, it innovated itself, observe the market and find an opportunity to strike best. If you want to succeed in your business, be optimistic, trust yourself and realize returns.
8. Lastly, you must equip yourself with factual information about your business. All of these factors can contribute to your success but it should be tailored depending on the nature of your own business.
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