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In 2004, Fast Company interviewed Jeff Bezos, founder and director of the famous Amazon Ecommerce wesite, and although it is an old interview but a whale of wisdom resisted the impact of time, another blogger returned to this interview and came up with 10 tips for each emerging company:
1 – Make your hiring standards very high.
“It’s better for me to do 50 job interviews without cleaning any of them,” Bezos said.
When an emerging company employs its first employees, each of them has a profound, impact on the future of the company and the chance of its success. If you hire the wrong person, it is a big threat to the chances of your start-up’s success. When you hire a penny, do not expect him to deal with you like dolphins.
2 – Be stubborn and flexible
Bezos said: “We are very stubborn about our vision of the company and its future, very flexible about the details of the realization of this vision. We do not compromise or give up easily. We tried three ways until we got to Amazon’s current sales model, and never gave up. If you are not stubborn, you will raise the banner of surrender quickly in front of problems, and if you are not flexible, you will still knocking your head in the rocks of problems, in a way that prevents you from seeing the chances of solving these problems.
Of course this advice is easy to say difficult to implement. How do you know when you should be stubborn and when should you be flexible? Do not find an answer, but when you have people in your team who share your vision of the future, they will help you to differentiate between positions of stubbornness and flexibility, and to find solutions to problems.
3 – Be obsessed with customers, not colleagues or competitors
“We see our customers as guests that we invite them to our home, so our daily job is to make every part of the customer experience of our site a little better than before,” Bezos said. You can focus your focus on customers or competitors, but some focus only on the company, and those who do – in large numbers, they will sink the company.
Bezos advice here is to be careful about the staff who work with you and their first goal themselves are nothing else. They want to benefit them (higher salary, promotion, more advantages …), no matter whether it is in the company’s interest or not. When their numbers increase to a certain extent, they ruin your company and give it to the land, and then they leave. before all else i highly recommended you to watch this special video: https://parallelprofitsreviewed.com/
4 – Know when to strike at the company’s career ladder
The most important thing in the right decision is that he does not care about the hierarchy or career ladder in the company. The smallest employee in the company can win any discussion, even with the highest company head, as long as it is based on facts and evidence. However, in order to arrive at this sound decision, it must rely on experienced staff in their field.
At the beginning of any emerging company, the team must accept any opinion from any individual, not to wait for the opinion of the founder or top manager. This fact can lead to severe randomness, but the ease of flow of ideas without fear or concern may mean the difference between a successful company and a closed company. This point, the second point is that the emerging company must be easy to configure and change, the customer service manager can be tomorrow the director of the production department, as long as it is competent to fill such a position. Job title does not matter, what matters is the right role and proper thinking.
5 – Know when the rule book violates
When Jeff Bezos started launching Amazon business, his goal was to sell all and all books over the Internet. When Bezos consulted people of opinion and experience, he advised him not to do so, and that it was best for him to select and focus only on bestsellers. Bezos did not do that and went off to sell all the books as he wanted from the start. That was a mistake at first, but later proved to be the best mistake he made. What followed was simply that Amazon had already made the largest possible library of books on the Internet, which made the researcher of any book that he would inevitably find his appetite at Amazon, so Amazon became famous tyrant fame. This information (that Amazon had almost all the books) and published by buyers among them was a very powerful and effective marketing tool, and Jeff and his team would not have done the same if the initial decision was to start with bestsellers only.
6 – Do not chase quick profit
“In some situations, we measure things and see them as damaging sales in the short term, but we do them nonetheless, because we believe that the current means of measurement can not explain the long-term impact,” Bezos said.
In other words, in some situations, startups will find that they can get a quick profit, but that profit will be limited in the short term only and will hurt long-term profits. There are good profits, and other bad destructive. There are decisions that bring you a short-term quick profit, while other decisions may make you lose now versus winning for a long time. Choose long-term.
7 – Meeting Base 2 Pizza
If you do not manage it wisely, periodic and daily meetings will become harmful and destructive, especially as the emerging company grows. So Bezos decided from the beginning of Amazon not to exceed the number of attendees for the appropriate number of people enough to eat from 2 pizzas to satiety. If we assume that every pizza has 8 pieces, we multiply by 2, we get 16 pieces. If we say that each person will eat three pieces, it means that the number of attendees should not exceed seven. (On the grounds that some women will attend this meeting and they always keep their greens and do not pizzas.)
Also, it is known from the actual experience that the greater the number of attendance of any meeting, the longer the meeting, and the more useful it is.
8 – Growth occurs through leaps of confidence
The leap of confidence is when you jump from high, and you trust that you are able to land safely, but you do not know how. The Amazon site was built on this basis. Jeff Bezos worked on the Wall Street in a comfortable job, but left all this to try to implement the idea that dominated his mind is the sale of books over the Internet (early in the early Internet). This employee did not know much about the mechanisms of the Internet and did not sell through it, but he knew all this on the road and it is implemented.
This rule is applied by Bezos to his employees, who are asked to take similar leaps during their work at Amazon.
9 – Be simple thinking
Bezos is confident in the numbers, especially those accurate enough to judge, but also understands that these numbers and statistics have their limits, so he asks his employees to use their minds and resort to logic when they have doubts in some statistics and figures, in a way that serves the interest of the client. Everything must be measured from the point of view of simply providing interest to the customer.
10 – Add a lot of small improvements
Web sites should always compete with each other, with all sites capable of copying and copying, without the possibility of inventing modern technology and making it exclusive to one site without another. Every time Amazon added a new feature to its site, such as offering products that fit the customer’s desire after purchase or other, only a short time later has been passed by the majority of competitors.
This fast-paced tradition makes Bezos focuses on developing the mechanism of work at home (such as reducing warehouse costs), as well as the interface of the site (such as simplicity and information needed to make a purchase decision), in a small, cascading and daily manner. This cyclical development made Amazon a difficult company to compete with. This way of thinking was the reason why an Amazon employee suggested that the company itself should host its own servers, which opened the door to Amazon or AWS cloud services, whose revenues started to equal or exceed Amazon’s store revenues! Continue optimizing every day.
Here’s where the tips end, and the question remains: Which advice will you apply to your emerging company, and why?