When you first start a business, will certainly be very difficult. Therefore, try to peek success tips from the founder of Amazon.com are successfully raising their business than just selling books become the biggest online retailer on the planet!
18 years ago, Jeff Bezos founded Amazon and current market capitalization reached $ 132 billion and income of $ 61 billion. Truly extraordinary!
Amazon has been investing heavily to ensure consumer convenience. In the 1990s, Amazon created a website that provides features such as shopping carts, one-click buying, so consumers do not have to retype their credit card numbers, email confirmation, and follow up after the goods are shipped.
Amazon also invested billions of dollars to the warehouse and systems to improve the quality and efficiency of the process of fulfilling orders. Thus, Amazon is able to obtain goods at a very low price compared to having to raise prices to generate high profit. Consumers are given a cheap price, and Amazon just took a thin margin.
As a businessman, putting the interests of consumers is a form of empathy, ie sharing feelings with your customers and build a business that can make them feel better.
Therefore, look for the problem to be solved, problems that cause your customer “pain” and that other companies do not try to solve. If you have found it and make money, re-invest to solve other problems.
In 2007, Bezos uses futuristic technology to enter the market of online grocery delivery business by establishing AmazonFresh. The technology uses robots from Kiva Systems. The robot moves with the help of magnets in the floor. Robots that take the goods from the shelves, scan barecode her to ascertain whether that is true, then put the item into the box with the address label consumer.
In 2012, Amazon acquired Kiva for $ 775 million and made a very successful AmazonFresh.
When I SAW Kiva’s product in action Several years ago, I was blown away. It consisted of huge Frisbee-shaped robots that could be steered via a grid of floor magnets. The robots picked up the warehouse rack containing the item in the customer order and delivered it to the operator. He picked the item from the rack; its barcode scanned to verify that it was correct; and put the items in a cardboard box with that customer’s shipping label.
In 2012, Amazon acquired Kiva for $ 775 million and uses it to help the make AmazonFresh a success.
From here, we invite us to think, is there any other way to solve a consumer problem? Sometimes other people can get the job done better than you in creating technology, hire the person.
AmazonFresh also initially did not immediately successful. Bezos understands that building a successful business does not arise from one idea only, but success comes from the learning process.
To solve the problems experienced by your customers, you have to do experiments. Start by talking to your potential customers and understand that market failures in solving their problems that make their lives difficult service solahart. Therefore, make a simple prototype quickly and ask for feedback. Use the feedback to try again. Continue doing this cycle until you find the most effective solution.