5 smart business lessons you can learn from Amazon

Take a page from Amazon’s book – Core Values.

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Main points

• Amazon has become one of the most successful companies in history thanks to its leadership principles.
• By focusing on the customer, hiring the best, and getting results, you too can grow your business.

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Amazon is not only an online store but also one of the world’s leading technology companies. The company’s success can be attributed to different elements, but the main ingredient is ensuring that each employee adheres to the leadership principles. These principles have enabled the company to shape its current position and stay ahead of the competition.

Amazon leadership principles

Amazon’s leadership principles define how it does business, how its leaders lead, and most importantly, how it focuses on the customer. These principles are a big part of the culture and how they conduct daily activities. Over the years, Amazon has had 14 principles. In the year In 2021, after Jeff Bezos stepped down as CEO to focus on his other ventures, the company added two more principles to the list. Here is the current list of principles:

1. Customer obsession
2. Ownership
3. Create and simplify
4. They are right, a lot
5. Learn and be curious
6. Recruit and develop the best
7. Insist on high standards
8. Think far
9. Bias for action
10. thrift
11. Find faith
12. Dive in
13. Having a backbone Do not agree and promise
14. Present the results
15. Strive to be the best employer on earth
16. Success and scale bring great responsibility

These last two are added in 2021, bringing the total to 16. Here are five smart business lessons you can learn from these principles and how you can apply them in your organization.

1. The principle of customer obsession

Amazon’s first core principle is customer obsession. This means that the company puts its customers first in everything it does. It focuses on understanding customer needs and providing the best possible products and services. It takes feedback seriously as customer feedback helps shape the company’s direction.

When it comes to customer service, focus on providing your customers with a great experience that goes above and beyond. This helps you build a loyal customer base that trusts your brand and keeps coming back for more.

2. The principle of ownership

Taking ownership is important for every Amazon employee. This means that employees are encouraged to take initiative and responsibility in their work, which allows them to be creative in their work and provide new solutions to problems. The ownership value encourages employees to think beyond their job titles and take on new challenges.

When hiring employees, you want to hire people who work and think they are the owners of the company. This makes them more motivated, which helps to develop a creative environment in the company.

3. Creative and simple principle

Amazon encourages employees to find new ways to do things that are more efficient or effective than existing methods. This not only makes Amazon more efficient, but also helps create new products or services that can benefit customers. Try not to hold onto things in old ways; Instead, look for new opportunities or ways to improve existing systems.

Amazon has done this throughout its history, from launching the Kindle e-reader to introducing same-day delivery services, and this willingness to innovate has paid off big time. There are always new ways to do things and by being proactive and finding efficient solutions you can stay ahead of your competitors.

4. The employer and develop the best principle

You cannot have a great organization without great people. This is one of the reasons why Amazon is the company it is today. The key to success in any business is the people. Investing resources in finding the best talent pays dividends when it comes to performance and growth. It is also important to provide development opportunities for each employee to grow as an individual but also make a continuous contribution to the benefit of the organization as a whole.

5. The principle of supply results

Amazon got to where it is today not because its leaders had good ideas, but because they did things. Leaders know how to deliver results, the ultimate goal of any business. They know how to focus and target the key resources needed for a successful outcome and ensure they are delivered in a quality and timely manner. It is important to understand that achieving results requires persistence.

You don’t want to avoid obstacles and failures; Instead, you want to take them as an opportunity to prove your worth. Every failure is an opportunity for growth and improvement. You must be motivated and determined, not allowing yourself to be complacent or settle for “good enough.”

Thanks to these core values, Amazon has become one of the most successful companies in history. By focusing on understanding customer needs and taking initiative, employees have been able to come up with innovative solutions that have helped Amazon stay ahead of the competition. As one of the most successful businesses in the world, you can learn a lot from Amazon’s approach to innovation-based success.