5 things our company learned from Amazon
Tags: Company, Successful Entrepreneurs, Amazon, Enterpreneurship, Business

Photo by Christian Wiediger on Unsplash

Have you ever wondered why some companies have huge profits while others barely struggle to survive?

For sure there are 5 different differences between them.

Foreword

Our company came out to the world less than 6 months ago, initially, it received the title Lampgram, which in terms of the founder’s thinking means bright light of innovative ideas (lamp) and mechanism of innovation (gram). Over the first 2 months, it did generate huge profits so that is why I am sharing 5 tips of success that will definitely change the way your business operates.

1) Innovation in the niche

The success of Amazon hugely depends on bringing new customer experience & extreme convenience for them. In the time of Amazon’s rollout to the real world, there were no alternative companies that would even compete with Amazon’s founder Jeff Bezos idea of selling goods online(initially books). So from here, we can easily distinguish the main reason why your company either sucks or completely stays without customers (sucks even more) — it is lack of innovation.

2) Customer relationship

Customer relationship is the key thing in any business, whether you have a washing cars point or a cafe — you largely depend on customers, you cannot be ignorant to your customers, you got to always seek improvement in how you serve your clients. Thus make sure you provide the billion-dollar company customer experience and treat each of your clients as the most important person in the world.

3) Constant improvement

Execution is way more significant that you would ever think. Here we can draw a line between Amazon in 2001 and now, how much it changed? The answer is way a lot, the world does not stay in place, things change — you have to change as well. A very good example of scaling a company is Amazon Web Services (AWS) which is one of the most profitable Amazon’s departments at the moment, maybe even one of the most profitable departments around the globe. Same examples we can find among many other companies, i.e. like Google’s Android which did increase the company’s market capitalization making the price per stock 2.5 higher than it was before (over some years of course). The same pattern persists in every other fairly successful company.

4) Diversification & manifold

Diversification is a part of innovation, Amazon started off from books has now everything from trash food to highly expensive cloud computing services & AmazonGo stores. Isn’t it that easy to diversify your product at least in your specific niche? It is surely possible and worth it since it will bring you unique customers that want to buy more of your products.

5) Mindset

Jeff Bezos owns one of the most invincible business mindsets among many founders and co-founders of various companies, he surely does spread it on the team. If you feel like your mindset is broken, or you are not ready to commit more to your company, or you feel laziness then you must definitely take some time for your personal improvement. As Jim Rohn said: “Income Seldom Exceeds Personal Development”. Take care of yourself and let your business shine like the brightest star in the sky!