Before he became one of the most famous people in the world, Jeff Bezos was an incredibly successful businessman. In the '90s, he launched Amazon.com and changed the face of bookselling and online shopping. Today, Bezos' net worth is $142 billion, making him the second-richest person on the planet after Elon Musk.
Here are the top 5 tips for entrepreneurs:
Start small
One of the keys to Bezos' success is adding a personal touch to his business, prioritizing small starts before taking bigger steps that his company may not be ready for. “It may be hard for you to remember, but for me, it was like yesterday I was carrying my package to the post office and hoping that one day I'd be able to buy a forklift,” Bezos said. Fast Company.
Take a risk
Bezos also enjoys taking risks, arguing that it's the only way he'll be rewarded. In a 2018 letter to shareholders, Bezos discussed the failure of the Fire smartphone and the success of Amazon Alexa, two technologies that were being developed at the same time. “As a company grows, we need to scale everything, including the scale of our failed experiments. If we don't scale our failures, we'll never invent anything at a scale that actually makes a difference.”
Think about the customer
Bezos believes in “customer obsession” and has made it one of Amazon's principles. He argues that even though growth is important, it's important for the company to put the customer first. “Customers don't know it yet, but they want better. Our desire to delight them is what drives us to invent for them,” he told the website Fool.com.
Learn from your competitors
It is important for businesses to constantly monitor their competitors, learn from them, and emulate their best tactics and techniques.
Be passionate
Finally, Bezos encourages all businessmen and entrepreneurs to choose passion projects, as he believes such companies are more likely to survive in the long term.
