The genius behind Amazon, Jeff Bezos is fully responsible for the birth of Amazon.com and not to mention its mega success. The ingredients to his success is not really a secret. He has been sharing his philosophy in Amazon's annual letter to shareholders since 1997. To some of who have yet to discover his secrets to success, here are the fundamentals of the billionaire.
1. Think long-term
Always focus on the future of your company. Work on what you envision for your company in the future. If your aim is to create a fully-equipped company with the fulfilment in infrastructure, financial strength, and its people, take action today and work towards your aim.
2. It's ok to fail
With failures come great lessons. From failures, you will learn what not to do and what is best for your company. Bezos himself made billion dollars worth of failures through certain decision making.
3. Maintain the startup mindset
To Bezos, every day is the "day 1" when running his company, and Amazon has been running for 22 years now. The "day 1" attitude is very important to avoid everyone in the company feeling too comfortable and complacent.
4. Treat employees like owners
The success of your company will be largely affected by every single person who is working for the company. Keep your employees motivated, each of whom must think and act like they own the company.
5. Embrace change
Move with the times and don't fall behind. Invest your company in something that will bring your business forward. If it's necessary to apply machine learning to your business, do it. If the rest of the world is going online, you should too. Don't be afraid to change because demands are changing too.
Are you thinking of a business venture? We can help. Speak to us today.