Jeff Bezos, CEO Of Amazon, On Business Success

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In this interview, Jeff Bezos shares the key to Amazon’s success. In this own words, Amazon has become so successful because they are “putting the customer first”.

Bezos expects to get similar results with this formula in the The Washington Post.

How is this relevant to the “expert industry”? There are 3 keys of Amazon’s success that are extremely applicable to a coaching/raining/consulting business or an “expert business” for short.

Business Success Key # 1 – Amazon uses a solid marketing principle that is timeless: building a business around an audience.

Amazon knows exactly what their customers want. A coaching/training/consulting business should also know and understand their audience and create the business around the people they serve.

Business Success Key # 2 – Specialize in solving ONE problem.

Amazon started as a company selling books online. Once they established their Authority Positioning in the selling books online space, they expanded to what they are today.

Business Success Key # 3 – The Halo Effect

Once people trusted that Amazon could sell them books online, Amazon’s reputation extended itself to all other areas that they cater for today.

The same happens with an “expert business”: once people position someone as a trusted authority in a certain area of expertise, they assume that they must be an expert as well in all other areas related to that field.

When we consult a cardiologist, we assume that the doctor must know about other medical aspects and not only about heart conditions. On the other hand,  when we consult a general practitioner, we immediately assume that they are not experts in heart conditions.

By the time they decided to expand to every conceivable product that can be sold online, their audience already trusted them.

This is Bezos’ interview talking about focusing on putting the customer first, Amazon’s success and his plans for The Washington Post.Enjoy.