Grow Your Business Using Amazon’s Principles as Your Guide

January 25, 2020
Written by Jayce Broda
amazon leadership principles logo and laptop

Amazon’s rise to prominence as the biggest online marketplace worldwide is largely attributed to its implementation of several effective management practices. These measures abide by the Amazon leadership principles, which you may also consider in your effort to grow your business.

grow successful business

  • Be bold. Take calculated risks. 

Identified as Successful Failure, the principle revolves around Amazon’s resolve to embrace risks. By this, Jeff Bezos has structured his business model to include the need to take and invest in risks. This move leaves the organization vulnerable to getting involved in ventures that are likely to fail. You can always avoid such issues by relying on an enhanced Amazon Marketplace protection services

Without question, failure is every businessman’s worst nightmare. But by incorporating it in his business model, Bezos has wired himself and his team to always be proactive in finding ways to make things work and make them worthwhile.

By exposing themselves to threatening situations, they become driven to become more creative. As the cliché goes, the worst can bring out the best in people when dealt with a firm hand. 

Taking risks is opening doors that could lead to desirable outcomes. For entrepreneurs, this is a mandatory move. You cannot be too careful. Otherwise, you impede your organizations’ potentials for growth long before they could be recognized.

But this does not mean being rash and pouncing on mindlessly on every risk that comes along. In business, taking calculated risks is the way to go. Before taking the plunge, especially if it is a significant risk, make sure to evaluate the probable results. With this, you and your team must come up with contingency measures if matters turn awry.

  • Develop a customer-focused mindset.

Amazon focuses on meeting their customers’ demands first. From there, their team moves on to developing strategies that would earn their clients’ trust and loyalty. This mentality defines a customer-focused culture. 

An organization’s Amazon success will never be possible without its customers. Their patronage and trust are the primary sources of the sales and revenue fueling business operations. That’s why it’s only reasonable to develop a customer-focused culture, which concentrates on improving the customers’ experience.

  • Consider moves with positive long-term results

Which mindset will benefit your business more: short-term or long-term? For Amazon, the long-term is the best way to go. The E-Commerce giant advocates long-term thinking that focuses on concepts or activities that yield favorable results for the company in the long run. Bezos had made this clear when he wrote in a letter back in 1997 that his company believes that the ultimate measure of their success is the shareholder value they build over the long-term.

Well-known investor Benjamin Graham backed up his belief saying that in the long term, the stock market determines the value of a company; hence, Bezos is focusing his team’s efforts on continuously growing the business.

Although prevailing circumstances often prompt many company executives to resort to measures with short-term benefits, opting for tactics that yield results in the long-term will give their businesses more advantages.

Published research conducted by McKinsey in 2017 compared the progress of companies divided into two groups: short-term focused and long-term focused. Their findings showed that those belonging to the latter group had higher total return to shareholders, 47% higher revenues, and 36% more earnings growth.

Let us help you grow your business on Amazon. Take our FREE CONSULTATION. Email Jayce at [email protected] today. 

Go from surviving to thriving on Amazon.

Use the power and influence of advertising to increase sales. Learn more about how you can benefit from our management expertise.
Book a Call

Read More

Discover: Sequential Guide on How to Sell on Amazon How to Sell on Amazon

Are you curious about how to sell on Amazon? In this step-by-step guide, we'll show you everything you need to get started. We'll cover creating an account and listing, tips for increasing your sales and tracking your sales and profits alongside the benefits of selling on Amazon. Plus, we'll give you some tips on how […]

Introduce Your Latest Amazon Dining Table Set with Product Launching Services modern dining table set

Introducing a new product to the market is always a nerve-wracking event for a business owner like you. You might be feeling excited because you can finally showcase what you have prepared in the past months. At the same time, you might be feeling anxious about whether the launching event will make the new product […]

Must-Have: Why Should Amazon Sellers Use Amazon SEO Services? Amazon SEO services

If you're currently an Amazon seller, you should perhaps keep in mind that you ought to do everything possible to utilize your listings and for it to progress fully. Amazon SEO is one of the best ways to improve your visibility and rankings on the site and can help you reach more potential customers.  In […]

crossmenuchevron-down