Amazon success secrets: 10 Strategies aimed at market leadership

10 Success Lessons from Amazon

as learned and presented to you by VadiK

Amazon.com: 10 Success Lessons, successful internet business tips

We see our customers as invited guests to a party, and we are the hosts. It's our job every day to make every important aspect of the customer experience a little bit better.

Jeff Bezos

①

Build a great customer experience

Be obsessed with your customers. Focus on value you want to deliver for the customer. Help people make purchase decisions. Work from the customer backward. Measure what customers care about.

②

Embrace innovation

Force developers to focus on value delivered to the customer instead of building technology first and then figuring how to use it.

Before starting developing a new product, draft a press release and FAQ document to explain the thesis behind the product and why the world needs it, as well as to address difficult questions that users might have about it. Expose real customers to a choice and see which one works best and make decisions based on those tests. Measurement must rule.

For innovation to flourish, everyone must be able to experiment, learn, and iterate.

Jeff Bezos

Amazon

③

Embrace simplicity

Simplicity is the key if you really want to build large distributed systems. The only way to manage a large distributed system is to keep things as simple as possible. Keep things simple by making sure there are no hidden requirements and hidden dependencies in the design. Cut technology to the minimum you need to solve the problem you have. A service design should be as minimal as possible.

Simplicity

Benefits of Simplicity for Business

80/20 Principle

3Ss of Winning in Business

Simplify

Ask Learning SWOT Questions

We don’t make money when we sell things; we make money when we help people make purchase decisions.

Jeff Bezos

Amazon

④

Fast To Market

Development velocity is extremely important. Adhere to core principles and processes. Use a homogeneous, standardized and tightly integrated infrastructure environment. Deploy innovative technologies.

A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.

Jeff Bezos

Amazon

⑤

Improve continuously

Your every-day job is to make every important aspect of the customer experience a little bit better. Keep investing in systems, people and product expansion, each of which helps you serve customers better.

⑥

Be a long-term focused company

Be very clear about your strategy.

⑦

Create an Inspiring Culture

Create an inspiring and frugal culture. Culture is a very important part of the whole thing. You must have everyone on the same page and striving toward the same vision.

⑧

Define a set of leadership principles

against which everyone is expected to measure themselves — and against which they’ll be measured come review time.

⑨

Build Great Team

Look for three things in interviews: enthusiasm, creativity, competence. Teams should be small, assigned authority and empowered to solve a problem as a service in anyway they see fit. Establish cross-organizational teams to solve complex system-wide problems. Open up your system with application program interface (API) and create an ecosystem around your application. APIs make it possible for each product team to work with other teams’ products independently, to build services that work well together without the teams necessarily having to work closely together.

Team Culture

Intellectual Teamwork

Cross-functional Teams

Cross-functional Innovation Teams

Empower Cross-functional Innovation Teams

Cross-Functional Management Team

There'll always be serendipity involved in discovery.

Jeff Bezos

Amazon

⑩

Empower Innovators

Any organization that depends on innovation must embrace creative chaos, not, loyalty and obedience.

Innovation can only come from the bottom. Those closest to the problem are in the best position to solve it.

Lessons from Business Legends PowerPoint slide deck for teachers

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