– Focus on what never change in the long run
Every people want 3 things and never change
1- Good price
2- Quick delivery
3- Variety to choose
“There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.” ~Jeff Bezos
“Percentage margins don’t matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.” ~Jeff Bezos
– Customer centricity
Focus on what customer want not competitors do
“If you’re competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering.” ~Jeff Bezos
– Innovation: innovation on behalf of customer. Not every customer know what they want. innovation means try something new. Therefore, Failure is inevitable.
“I believe you have to be willing to be misunderstood if you’re going to innovate.” ~Jeff Bezos
– Frugality: saving and then pass it to customer.
– Long term vision.
“My own view is that every company requires a long-term view.” —Jeff Bezos
– Word of mouse marketing
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.” ~Jeff Bezos
– No regret
“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying” —Jeff Bezos
“We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient.” ~Jeff Bezos