According to the Forbes report, Jeff Bezos is one of the richest people in the world. An American business tycoon whose dedication and determination towards his work led him to the position that he is today the most successful person in the world. He is the founder and CEO of Amazon and also the owner of The Washington Post. He attained his education from Princeton University.
Jeff Bezos’s family members
• Jacqueline Bezos (mother)
• Ted Jorgensen (birth father)
• Mike Bezos (Stepfather)
• Mark Bezos (Brother)
• Christina Bezos (Sister)
• Mackenzie Scott (ex-wife)
• Lauren Sanchez (current girlfriend)
Jeff Bezos ‘s Initial step towards success
Jeff Bezos founded Amazon after resigning from his previous bank job. Bezos was unaware about the know-how of Internet. However, He was aware of the fact that the Internet was growing at the rate of two thousand three hundred percent. Seattle was the best chosen location for Amazon because it was rich in technical talent and was close to the entire sellers of the book in Rosenberg. Amazon came into existence in July , 1995 . It is claimed that Bezos was one of the few real power person of e-commerce and the entire Internet retail business. Under Amazon Vision, Bezos offered two broad ideas of e-commerce which are building worldwide customer-focused company and creating an environment where Customers can easily buy commodities of their choice . The profit for the company had attained its peak level in 1995.
Aims and Objectives implemented by Jeff Bezos
Amazon.com has identified the following as major success factors in its business prototype. The first thing to keep in mind in order to achieve success is giving a robust brand name to the company and then providing its customers amazing prices and a better shopping knowledge. Finally, his main job was to realize economies of scale and work according to that methodology . Amazon.com's marketing strategy was designed to strengthen the Amazon brand name, increase customer traffic to Amazon.com websites, build customer loyalty, encourage repeat purchases, and develop opportunities for incremental product and service revenue .He invested $1 million in Google in 1998, when it was just a start-up.
It's success is driven by the kind of innovation and technology development . Jeff Bezos believes that focusing on customers choice and preferences is more important. They have a vast variety of products which are clearly categories on their website. Apart from selling books, he has also focused on kitchen appliances, beauty products, electronics and everything else that a daily customer needs at home. This Heterogeneity of products has driven Amazon's business to grow faster than before. Customers satisfaction is more important to them than focusing on competitors. Jeff Bezos's hiring and hiring policies are outstanding. Without proper management, it is not possible for a huge company to reach its peak success rapidly. People have to become experts to be successful in this world. Still, he used to say, "the danger is that once you're a domain expert, you can get stuck with that knowledge." You're really starting to know "the right way to do it", and missing out on the opportunity to figure out "how it can be done". The way to avoid this is to keep your child's curiosity alive. Inventors are experts in the early mind. Jeff's career trajectory shows that an idea will always remain an idea until you try it. If it turns out to be successful, who knows, one could be on the cusp of success.
Famous quotes by Jeff Bezos
* The only way out of a tight box is to find your own way.
*What we have to do is always bow to the future, when the world turns around you and when it turns against you, what used to be a Least is now best, you have to focus into that and find out what to do because complaining is not a solution .
* There are two kinds of companies, one who tries to charge more and the other who works to charge less and the choice must be the latter one.
Inspiration and lessons to be learned from Jeff Bezos
There is no such thing as living a "perfect" life. But it is possible to live life without regrets. Don't wait for the future to happen. According to Gandhi, if you find something in life you are disappointed with, be the change you want to see in the world. Making money is not just about selling things or selling your time or services. Rather, you can make money in myriad ways. You can build a business and make money by making the life of others easier. Help your clients make complex decisions, and give them meaning and direction in their lives. They screw with their customers to make some extra nickel. The best way to think about it is treating your customer the way you want to be treated. This basic moral value Can Guide our Business Well. It's important to have a big and great perspective. However, the problem arises when we get stuck on small things. By being inflexible on details, we will potentially lose sight of better alternatives. We need to stick to our big vision, but be flexible on the details to make it happen. Staying courageous and taking risks in life are steps towards success. We should not wait for the future to happen but we should make a future for ourselves.