{"id":328695,"date":"2021-01-07T09:52:29","date_gmt":"2021-01-07T09:52:29","guid":{"rendered":"https:\/\/woonas.com\/?p=328695"},"modified":"2021-01-26T13:08:14","modified_gmt":"2021-01-26T13:08:14","slug":"jeff-bezos","status":"publish","type":"post","link":"https:\/\/woonas.com\/en\/jeff-bezos\/","title":{"rendered":"Jeff Bezos Marketing and Business Strategies"},"content":{"rendered":"<p class=\"MsoNormal\"><span style=\"font-size: 14.0pt; line-height: 115%;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-329337\" src=\"https:\/\/woonas.com\/wp-content\/uploads\/2021\/01\/Jeff-Bezos-300x169.png\" alt=\"\" width=\"300\" height=\"169\" \/><\/span><\/p>\n<p>Jeff Bezos<\/p>\n<p>Jeff Bezos Amazon CEO\u00a0 was one of the first entrepreneurs to realize the potential of selling products on the internet, this Bloomberg Profile looks into how Bezos built Amazon inside his garage and now has his sights set well beyond online commerce. He has always believed that the growth of the Internet would overtake the brick and mortar industry.<\/p>\n<p>If you\u2019re interested in running your own business, there\u2019s so much you can learn from him. Here are his top 10 marketing and business strategies:<\/p>\n<ul>\n<li>Dream BIG<\/li>\n<\/ul>\n<p>When you\u2019re setting your goals, think big and picture how you see yourself in the next few years. Having big dreams will give you the energy and excitement to keep chasing. Even if you don\u2019t end up achieving that goal, you\u2019ll be occupied with activities every day that will make you an improved person.<\/p>\n<ul>\n<li>Hiring is Key<\/li>\n<\/ul>\n<p>The employees are the backbone of the company. They\u2019re what keeps the engines running. Depending on your style of leadership and principles, always try to hire the best out there. You don\u2019t want to end up with someone that doesn\u2019t want to work towards your goals and vision.<\/p>\n<ul>\n<li>Dare to experiment when trying to create or market new products<\/li>\n<\/ul>\n<p>This is a great quote by Bezos:<\/p>\n<p>\u201cIf you double the number of experiments you do per year you\u2019re going to double your inventiveness.\u201d<\/p>\n<p>Through experimentation, new innovations are born. It\u2019s how companies stay competitive in the market. You have to keep finding ways to improve your product or introduce a new one into the market.<\/p>\n<ul>\n<li>You should invent\u2026 not the customer<\/li>\n<\/ul>\n<p>As an entrepreneur, you should always be passionate about coming up with something new. It\u2019s your responsibility and not the customers. If you ask your customers for their opinion, they will just tell you what they don\u2019t like. They won\u2019t exactly tell you how to do something in a different way.<\/p>\n<p>No matter what field you\u2019re in, you need to be brainstorming and experimenting. According to Bezos, inventing is one of the most important factors for him and his team at Amazon.<\/p>\n<ul>\n<li>Regret minimization framework<\/li>\n<\/ul>\n<p>Living life as an entrepreneur or startup founder poses its many challenges. You\u2019re going to be faced with choices and life-changing decisions. There isn\u2019t a single method that works for everyone as we are all unique individuals. However, if you\u2019re stuck and contemplating certain decisions, you could try out this mental framework.<\/p>\n<ul>\n<li>Put the magnifying glass on your customers<\/li>\n<\/ul>\n<p>When you can identify the customer\u2019s needs and problems, you\u2019ll be able to build what is best for them. In turn, that will be what\u2019s best for the company as well.<\/p>\n<ul>\n<li>The limitless potential of eCommerce<\/li>\n<\/ul>\n<p>The eCommerce industry has been booming with the help of the Internet. Scalability, reach, and convenience has turned many shoppers into online shoppers. You can find just about anything on the Internet these days.<\/p>\n<ul>\n<li>Be frugal and thrifty<\/li>\n<\/ul>\n<p>Especially when you\u2019re just starting out, you have to be smart with money. You can\u2019t be forking out cash on things that aren\u2019t important. Every cent counts and must be used properly. And even when you\u2019ve earned a good amount, always try to spend less than you make.<\/p>\n<p>Here are some examples of Bezos being thrifty:<\/p>\n<ul>\n<li>His employees are not allowed to fly business class<\/li>\n<li>During business trips, his employees are put up in the Holiday Inn (2 people per room)<\/li>\n<li>He created an employee loyalty program to save money<\/li>\n<li>Lower margins, higher turnover<\/li>\n<\/ul>\n<p>If you\u2019re new to the business world and haven\u2019t heard the term \u201cmargin\u201d, it is the difference in price between the product cost and selling price. Depending on the way you want to model your business, you could either go for high or low margins. Many businesses prefer high margins because it means having to do less work.<\/p>\n<p>Lower margins can result in having a higher turnover. A huge sales volume with small profits accumulates into a lot of money.<\/p>\n<ul>\n<li>Be on the frontlines with your employees<\/li>\n<\/ul>\n<p>There are many leadership styles out there. Frontline leaders are doers. They\u2019re able to do what their employees do. It is inspiring for many to see that their leader is willing to actively participate in daily work activities.<\/p>\n<p>As a leader, your role is to create an environment that reflects your vision, mission, and values of the organization. You are setting an example that others will follow.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jeff Bezos Jeff Bezos Amazon CEO\u00a0 was one of the first entrepreneurs to realize the potential of selling products on the internet, this Bloomberg Profile looks into how Bezos built Amazon inside his garage and now has his sights set well beyond online commerce. He has always believed that the growth of the Internet would [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":329337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[93],"tags":[],"class_list":["post-328695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-commerce"],"_links":{"self":[{"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/posts\/328695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/comments?post=328695"}],"version-history":[{"count":8,"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/posts\/328695\/revisions"}],"predecessor-version":[{"id":330488,"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/posts\/328695\/revisions\/330488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/media\/329337"}],"wp:attachment":[{"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/media?parent=328695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/categories?post=328695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woonas.com\/en\/wp-json\/wp\/v2\/tags?post=328695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}