Is Jeff Bezos' fortune justifiable?
If you ask that topic at a cocktail party, you can get a lot of interesting answers. Many others believe that no one needs that much money and that he would be better off donating it to feed the hungry or housing the homeless.
Perhaps they are correct, but let's not overlook an important aspect of the jigsaw.What is the source of Bezos' wealth?
It isn't because his time is more important than that of a $15-an-hour Amazon warehouse worker. He isn't a criminal. Jeff Bezos is wealthy because he thrives on complexity.
What is your preferred method of consuming complexity?The world is a difficult place to navigate. That complexity must be consumed. Which comes first: the corporation or the customers?
Do you consume the complexity of your customers?
The average consumer prefers simple foods. The company that performs it for them will be rewarded generously and with loyalty. This is why Bezos detractors may complain about Amazon's misdeeds while simultaneously ordering Amazon Prime delivery.Consider Amazon in the context of a dropshipping startup. For the store owner, dropshipping is simple. You create a Shopify store, stock it with products from Chinese warehouses, drive traffic to the store, and when consumers make purchases, you order the things to be transported directly from the Chinese warehouses to the end-customer without ever touching a product.Isn't it a piece of cake? It's time to start accumulating wealth. They believe it.
There's a problem: shipping and handling eats up the majority of your margin, and the customer must wait 2-3 weeks for the product. Who cares? Why not place an Amazon order instead?
By taking on all the complexities, Jeff Bezos turned Amazon into the dominant force it is today. He's obsessive about making his customers' lives easier. He established lofty goals for his staff in order to ensure that customers have the least amount of friction possible when purchasing on Amazon.
Consider how difficult it was. Warehouse empire, fleet of delivery vans, stringent packaging and safety regulations, public lockers, small army of customer support specialists, and one-click interface for returns and refunds
Reasonable people can differ, but this is how Bezos became the world's richest man, in this author's perspective. Bezos turned incomprehensible chaos into order. He ate every bit of intricacy he could so you could get the things you wanted and have them delivered the next day.
Amazon's Mission Statement as a Growth Strategy: Five Ways
Anything that isn't related to the client should be ignored.
Bill Gates, Steve Jobs, and Elon Musk weren't like Jeff Bezos. He wasn't the most outgoing brand ambassador.
Few people knew who Jeff Bezos was when Amazon was merely an ecommerce bookseller, even as it was establishing itself as a dominant force in the market. Many people would have wondered, "Jeff who?" when they realized he had dethroned Bill Gates and Warren Buffett as the world's wealthiest man.
Of sure, a strong personal brand can help you succeed in business, but the fact that Bezos beat them all without it says something.
Many entrepreneurs spend much too much time on their image — Instagram, PR, and platform — and far too little time on their product, consuming so much complexity that the customer's decision is essentially decided for them. Why bother with a popular Instagram account if it doesn't entice your customers to buy your product?
Forget about image, positioning, and marketing; what part of your company is in direct contact with customers? How can you simplify each customer-facing aspect of your company? What can you do if you just have to take one step instead of ten? What can you do to relieve them of this burden?
Finally, does this increase the difficulty of your job? It's great since you're getting paid more.Some people believe that the world's wealthiest people are the most skilled thieves, but true businesspeople know better. With the exception of a few affluent heirs, the world's wealthiest persons are those who have solved the most pressing problems for the greatest number of people. Eating complexity is merely another way of looking at the act of helping your customer solve difficulties.
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