Jeff Bezo is one of the worlds most successful business men and is also the founder of the Amazon website. He left his well paid job on Wall Street in New York after he decided to start a website that focused on being the web’s number one book supplier. This website is now worth around £19 billion and sells a wide selection of products throughout the world. In this article we will have a look at how the company has developed from a book supplier into a website that sells nearly everything.
Attention to detail
The website is known for its incredible attention to detail. Every number and component within the website is calculated and measured on a daily basis. The company is always on the lookout for something which could have a negative effect on the sales of a product. For instance, the website regularly measures the time that pages take to load on the website. If a page takes 0.1 seconds longer than the required amount of time, Amazon believe it will lose 1% of all its customers.
Less is more
Amazon take the viewpoint that less is more. The top employees of Amazon are paid a regular salary and the CEO himself did not pay himself more than £100,000 in the last year. When working on new products Amazon uses small teams of designers and do not believe that large teams make the best decisions.
Determined from a young age
Jeff Bezo, the CEO of Amazon was always a determined individual. When he was younger he wanted be an astronaut. As he got older he landed a high-powered job on Wall Street and became diligent in number crunching and team building. The key to Amazon’s success is the focus it has on the customer. There are 80 warehouses around the world which stock the Amazon products. Getting the products to these customers quickly and in good condition is the main goal.