Through its growth path, Amazon have failed a lot. But Amazon continued to move forward and today it is at the top of E-Commerce Business.
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There are the 10 lessons we have learned from Amazon from its failure to success journey.
1. Give Autonomy to your employees. One of the way to attract great Leaders is to give them total autonomy. This helps employees to feel that they have total control over their projects and it motivates them too.
2. Give every employee a vision. Each and every employee should have a vision which should work inline with Amazon vision. Amazon wants its E- commerce store such, where people can find each and every product at a very reasonable price.
3. Customer is king. Put your customer in the first position. Lets your customers who shops in your store have the best possible experience.
4. Wait for your business to grow. With technology moving at a very fast pace, you have to wait and watch how technology blend into our culture and society. It should be incorporated into your business model too.
5. Learn to embrace failures Yes, there would be lots of failures in your journey and you must be ready to accept it. If you do any experiment it may fail or succeed. Also encourage your employees to take chances.
6. Try to find the best brain to run your organization Try to find and hire some of the best brains to run your business. This fresh inputs you receive would help your business to grow.
7. Give people new role at the right time. Amazon gives its employees incentive to work hard and accept new roles. This also enhances their leadership qualities.
8. Get used to external trends. Amazon wants to embrace the external trends and get itself along with the trend. It has been observed that many tech. giants have become obsolete by not absorbing the changes.
9. Work in small teams. You can take decisions very quickly if your team is short. At the same time you can also execute your decisions quickly.
10. People should be concise. Always keep your presentation short and sweet. Try to remove the extra fluff and have a concise to the point presentation. Though Amazon has failed in many projects but through the sheer strength of Leadership it had attained great heights.
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