The success of an entrepreneur depends not only on opportunities but also on some outstanding qualities and differences. A business empire cannot be made easily. Indeed, there is always a great mind behind every successful business empire. One of the successful empires of the today’s world is Amazon and the mind behind Amazon is of Jeff Bezos. So, let’s understand the five lessons for every entrepreneur from the life of Jeff Bezos.
FIVE LESSONS FOR EVERY ENTREPRENEUR FROM THE LIFE OF JEFF BEZOS
Jeff Bezos talked about the eternal lessons he learned about business success. The success of Bezos is inseparable from the following points that can assist entrepreneurship. These business principles are not only the reason for Amazon's success but also the creation of every successful startup company.
1. FOLLOW YOUR OWN CHOICE
In 1992, Bezos came up with the idea of creating an online bookstore covering millions of books and became an entrepreneur. Indeed it was a tough choice. His said: “I don't think I will regret the attempts and failures, otherwise I will always be troubled by a decision not to try at all. After careful consideration, I chose an unsafe road, I am proud of my choice”.
2. CONTINUE TO TAKE RISKS AND INNOVATE
Regarding how to become an innovative person in entrepreneurship, Bezos' suggestion is to use childlike curiosity to approach and know things. Innovators must be experts with a beginner mentality. Because even an expert in a field who specializes in solving problems will not be able to jump out of his thinking field because of path dependence. Without curiosity and risk, innovation is lost.
3. ALWAYS CUSTOMER-CENTRIC
When developing Amazon's various business projects, Bezos will focus on customers. His goal is not only to make it easier for customers to browse books but also to make it an enjoyable experience. But the most prominent point is that users are the vital mediator of a company, and companies must treat their users with awe.
4. EMBRACE THE "FIRST-DAY" MENTALITY
According to Jeff Bezos, we have two mindsets to choose from: "Day 1" and "Day 2". Entrepreneurs must choose day 1 outlook because the second day is a state of un-productivity, then it became insignificant while causing a delay in the company’s operations and finally bankruptcy. This is the reason for always staying on the first day.
5. FIGHT A PROTRACTED WAR
Entrepreneurs must fight a war no matter how difficult it is. Although the rise of Amazon seems to have emerged out of thin air, it is far from the truth. It is not difficult to see that Amazon's great success is the result of more than two decades of hard work. It is not easy to reject short-term hype, but as Amazon has proved, it is a necessary condition for long-term success.
In conclusion, it is not easy to think of anything that can sum up the power of his teachings for entrepreneurship, better than this sentence: "We have three values at Amazon that we have followed to for 18 years, and they are also the reason for our success: customer first, innovation and patience."