5 Smart Business Lessons You Can Learn From Amazon

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Take a page from Amazon’s book of core values.

key point

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

Amazon is more than just an online store, it is one of the world’s leading technology companies. The company’s success can be attributed to a number of factors, but a key element has always been ensuring that each employee lives up to their leadership principles. These principles have helped shape the company into what it is today and keep it ahead of the competition.

Amazon Leadership Principles

Amazon’s Leadership Principles describe how it does business, how its leaders lead, and most importantly, how it is customer-centric. These principles are an important part of its culture and how it operates every day. Over the years, Amazon has had 14 principles. In 2021, the company added two more principles to its list after Jeff Bezos steps down as CEO to focus on his other ventures. The following is the current list of principles:

1. customer first
2. ownership
3. Invent and Simplify
4. yes, many
5. learning and curious
6. Hire and develop the best
7. uphold the highest standards
8. think big
9. action bias
10. frugal
11. gain trust
12. deep dive
13. have backbone; disagree and commit
14. delivery result
15. Strive to be the best employer on earth
16. With success and scale comes broad responsibility

The last two were 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 to your organization.

1. The principle of customer first

Amazon’s number one core principle is customer obsession. This means that everything the company does puts the customer first. It focuses on understanding the needs of customers and providing them with the best products and services possible. It also takes feedback seriously, as customer feedback helps shape the company’s direction.

When it comes to customer service, focus on giving your customers a great experience. This will help you build a loyal customer base, trust your brand and keep coming back to buy.

2. Ownership principle

Taking ownership is important to every Amazon employee. This means encouraging employees to take initiative and responsibility for their work, which enables them to be creative in their roles and to come up with innovative problem solutions. Ownership values ​​encourage employees to think beyond their roles and take on new challenges.

When you hire people, you want to hire people with the behavior and mindset that they are also the owners of the company. This will make them more motivated and help foster an innovative environment within the company.

3. Invention and Simplification Principles

Amazon encourages employees to find new ways of doing things that are more efficient or effective than existing methods. Not only would this help Amazon increase productivity, but it could also help create new products or services that would benefit customers. Try not to get stuck in the old ways of doing things; instead, look for new opportunities or ways to improve existing systems.

This willingness to innovate has paid off enormously, as Amazon has done throughout its history, from launching the Kindle e-reader to launching its same-day delivery service. There are always new ways of doing things, and by being proactive and finding solutions that work, you will be able to stay ahead of your competition.

4. Hire and develop the best principles

Without excellent people, it is impossible to have an excellent organization. This is one of the reasons why Amazon is the company it is today. The cornerstone of the success of any business is its people. Investing resources to find the most talented people will pay off in terms of performance and growth. It is also important to provide development opportunities to ensure that each employee grows as an individual while providing ongoing contribution that benefits the organization as a whole.

5. Deliverable principles

Amazon got where it is not because its leaders had good ideas, but because they got things done. Leaders know how to deliver results, which is the ultimate goal of any business. They know how to focus and identify the key inputs required for successful outcomes and ensure they are delivered on time with the best quality. It’s important to understand that delivering results takes perseverance.

You don’t want to avoid obstacles and failures; instead, you want to use them as an opportunity to prove your abilities. Every setback is an opportunity to grow and improve. You need to stay motivated and determined and not allow yourself to become complacent or content with being “good enough”.

Amazon has become one of the most successful companies in history thanks in large part to these core values. By focusing on understanding customers’ needs and being proactive, employees are able to come up with innovative solutions that help Amazon stay ahead of the competition. As one of the most successful businesses in the world, you can learn many lessons from Amazon’s approach to innovation-driven success.