Hello friends,I hope you all be in pink of ur health.So let's start,
With the above heading you must knowed what should I have written.but before 🌟 ting those who don't know about Jeff bezoz should clear their daughts . So I have firstly I have written about him.
Jeff Bezos is one of the richest people on this planet ever. He is one of the first Centi Billionaire. Centi Billionaire is one who has hit a century in the field of Billionaire. 1 Centi Billionaire = 100 Billon. Jeff Bezos is one of the first ever on this planet who has a personal net worth of more than 100 Billion i.e. 112 Billion Dollars. Which means he has left behind Bill Gates whose personal net worth was 90 Billion Dollar. How could a person reach this level by starting his company just from his garage? Do you want to know? Okay! Here’s Why Jeff Bezos Is Truly The Richest Person In History
Before I start to tell you those strategies that tell us Here’s Why Jeff Bezos Is Truly The Richest Person In History, I would like to say that you need to read this by full concentration without getting distracted. I want you to read this 2 to 3 times so that you’ll thoroughly get the strategies, mindset and thought process in your head and later on, you can apply these in your business. Let’s start our topic of the day Here’s Why Jeff Bezos Is Truly The Richest Person In History
After Succes, Strategy To Grow Net Worth
Timely Building Good Products
Timely Purchased New Companies
Timely Investment In Companies
__Companies Jeff Bezos Purchased__
Google
Uber
Business Insider
Twitter
Workday
Grail
Lookout
Companies Amazon Invested
HomeGrocer.com
bankbazar.com
Easybazar.com
wine.com
Companies Purchased By Amazon
Whole Sale Food Market
Twitch
Audible
Zappos.com
IMDb
The Washington Post
goodreads
By doing this all the market capitalism of Amazon become the 2nd biggest and largest after Apple. Apple is at this level by their innovation. Remember one of the biggest roles in the field of business is innovation only. This is the reason why Apple, Google, Amazon are at this level.
Services provided by Amazon
Amazon Prime
Audible
Amazon Game Studios
Amazon Prime Video
Amazon Music
Amazon Go
Amazon Kindle
Amazon Web Services
Amazon Wireless
I hope till now you’ve pretty much understood how he gets to this level after a little success. But let’s see how he managed to reach this level when there was nothing. Let’s look at the mindset, thought process and strategy he used to reach this level. Topic: Here’s Why Jeff Bezos Is Truly The Richest Person In History
- The customer is King for Jeff Bezos
For Jeff Bezos, his customers are his king and he is their servant. The first thing he keeps in mind is two things. first is what customers like and second is what customers don’t like. Everyone focuses on what customers like but very some of us focus on what customers don’t like.
Bezos Found 3 Things that Customer’s don’t like
Delay: Customer’s don’t like delay in product or loading of website
Defect: Customer’s don’t like if their product has defected
Out Of Stock: No customer wants to see that his product is out of stock
- Long-term vision
At the middle of his company or you can when it just stared, his investors and employees usually ask him that when will they get profit? But Bezos, says that don’t worry. I don’t want profit for short term, but I want profit for a long term. Jeff had a long-term vision.
Jeff Bezos Says :
Our vision is to use this platform to build earth’s most customer centric company. A place where customers can come to find anything and everything they might want to buy online.
- Complexifying the simple and simplifying the complex
If you look at the world you’ll see that there are three types of entrepreneurs. Category one who show complex things in a simple way and other those whose vision is not clear and their product is very complex.
In category one there are entrepreneurs like Jeff Bezos, Elon Musk, Mark Zuckerberg or Steve Jobs. They showed high fi things and idea as simple so that customers and easily understand.
- Don’t wait for 90% Information
The one of the best strategy he uses in this business he that he doesn’t wait to get full 100% information of whether to do that work or not. If Bezos got only 60 tom70% information on that thing then he’ll start doing that thing. He doesn’t waste any time.
This helps him to stay pre-planned. He keeps testing the market, looks at the feedback of the market and keeps implementing little by little.
Lemme tell you one example where Bezos used this strategy. When Jeff thought of the idea of Amazon Prime, and only after 111 days of thinking of the idea, he launched that product. Instead of this, he faced many problems but he keeps improving and at now this is quite a popular Amazon product.
This shows that at first, nothing is gonna go good, but as time passes and you keeps on improving, your product will also improve.
- Course Correction
Bezos failed quite a lot of time. He says that it is dangerous to build a good product and stay calm as well as also it is dangerous to build a bad product and stay calm.
What you should do is that build a PRODUCT and keeps on improving that product, this phenomenon of correction in your product little by little is called Course Correction.
With this, we’ve come to the end of this case study. I hope you’ll implement it in your business from today only. And I assure you that if you try this you’ll definitely get success and stay calm and wait.
Thank you steemians ☺️ I hope u all like my post. And I will come with my new post soon😉.