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The Bezos Effect

Posted on November 14 2018

THE BEZOS EFFECT





Do you remember the last time you went to the store to buy something? No? Neither do I. That new blender you just bought? Chances are it was fulfilled by Amazon. You most likely didn’t even need a new blender; you bought one just because it had 5-star reviews, two-day free shipping and ran you around 25 bucks.

It’s no big deal, just a rippling side-effect of Amazon’s progressive dominance over the modern world. Maybe not so, but the richest man in the world would like to think so; he’s not just rich, he’s 150+ billion dollars rich. His name is Jeff Bezos, an American Entrepreneur; the founder, chairman and CEO of Amazon. He is currently the richest man on Earth, on his way to becoming the richest man in human history right behind Mansa Munsa. Bezos is the first to hit triple-digits in the billionaire’s club and he’s not retiring anytime soon.

The Early Days

Jeff Preston Bezos was born in Albuquerque, New Mexico to a teenage mother. She married Cuban immigrant, Mike Bezos, when Jeff was only 4 years old. Bezos always had a curiosity for how things worked; when he was just a toddler he took apart his crib with a screwdriver in hopes of building a bed. He would spend most summers helping his grandparents on their ranch by repairing machinery and treating farm animals. During his time spent on the ranch, he learned the value of hard work and the wisdom of resourcefulness.

 

In his teenage years, Bezos’ family moved to Miami where he attended Palmetto Senior High. It was here, in these crucial years where Bezos developed his passion for computers. Always standing out from his classmates, Bezos graduated valedictorian of his high school and went on to study computer science in Princeton. After graduating with a degree in Computer Science and Electrical Engineering from Princeton; Bezos worked at a start-up company that designs fiber optic solutions by the name of Fitel (Now known as OFS). Soon after, he landed a job at D.E Shaw, a hedge fund where he eventually worked his way to Senior Vice President. It was in this firm where Bezos met his current wife, Mackenzie Bezos, whom he has four kids with. In 1994, Bezos quit his job and took a leap of faith into the beginning days of the internet era.





The Past, The Present & The Future of Amazon

"A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.

There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second."

- Jeff Bezos -




Jeff Bezos left Wall Street and took a dive into the online world in 1994. In his decision to leave Wall Street, his boss pressured him to continue working for him and even offered him a hefty bonus. Bezos’ parents also heavily advised him against leaving his high-paying job. Although a tough decision, the choice to leave his current job would be one he would never regret.

 

Bezos began by listing all the viable products he thought would be profitable to sell online, however; the idea of selling books stood out most due to their simplicity and standard in the world. Straight out of his garage, Jeff, his wife and 2 programmers began working on a software for his new project. Soon enough, Amazon began selling books all over the United States and internationally. In the first month of Amazon’s launch, sales went through the roof - exceeding all expectations. $20,000 a week in generated revenue in the first two months was just the beginning. Following its exponential levels of growth, early employee accounts remember Bezos expecting each employee to put in a minimum of 60 hour work weeks. The early days of Amazon meant one thing; having no work-life balance. In its infancy stages, the company was so understaffed and Bezos so demanding, every bit of effort and energy was expected of the employees Bezos constantly emphasized the importance of his customers and demanded they received outstanding service. When Barnes and Noble opened their online bookstore, they had around 30,000 employees- Amazon had 125. Despite B&N being a massive competitive threat to Amazon, Bezos constantly reassured his employees that everything would be fine if they only focused on satisfying their customers instead of worrying what their competition was up to.

 

Today, Amazon is the largest online retailer in the world and has held that title for the last couple of years. Being the world’s second company to reach a trillion in market valuation; Amazon is impossible to ignore. Amazon takes up the equivalent amount of space in the online marketplace as does walmart, target and many other e-tailers combined. Having over 135 million weekly customers, 75 fulfillment centers across country and over 120,000 employees, it seems as if Amazon is monopolizing the consumerist world as we know it.

In the meantime, Amazon has been silently acquiring several other companies in order to expand their dominance in the consumer world. Some of the larger acquisitions include companies like Imdb.com, Zappos, Audible.com and even Whole Foods. On that same note, Jeff Bezos currently holds around 17% of Amazons shares. He’s also invested millions of dollars in companies like Google, AirBnB and Uber while successfully exiting other investments like Twitter, Workday and Juno Therapeutics. Bezos knows exactly what his plans for Amazon are- being an online mega-store is just a fraction of the equation.

 

Amazon’s future lies within its simplistic innovation and approach to business. The company aims to continue bridging the gap between AI and voice technology. The Amazon Echo powered by the Alexa voice assistant is a great example of how voice technology is finding its way into the common household. As soon as their Echo technology gained market momentum, more products followed like the Echo Spot, Dot and Plus. Amazon's Alexa Voice Services or AVS for short, was created to implement voice technology into everyday objects we use. Amazon wants to incorporate Alexa into the lifeless objects we use everyday in hopes of automating our lives. . Amazon is betting big on Alexa’s omnipresent integration. More importantly, they are fully confident in their ability to make Alexa operate effortlessly.




Big Data = Big Money

All said and done, Amazon is essentially a giant data company offering cloud-based services utilizing its e-commerce platform as a means to gather precious consumer data. Safe to say, based on your search and purchase history, Amazon most likely knows you better than you know yourself. It’s frightening to conceptualize just how much Artificial Intelligence follows our every move, precisely pinpointing needs and wants; this is the how Amazon and many companies are able to provide superior customer experience.

 

As CEO of Amazon, Bezos has always focused building and scaling the Amazon brand centered around customer value and innovation. He implemented “The Amazon Way”, the 14 core principles that he still lives by today. These core company guidelines are a beautiful demonstration of what it takes to run a successful company and holds no surprise as to how Amazon has managed to make it thus far.

 

Below are a few of Bezos’ 14 core principles with which the ENTRPRNR brand identifies the most with and why.


Bezos' Core Principals X ENTRPRNR

Principle #1: Customer Obsession

Bezos is tenacious when it comes to delivering excellent customer service. His customers are the main reason why Amazon is so successful. Focusing not only on the needs and wants of the customer, but understanding them on a deeper level can make a company stand above the rest. We, as a brand, know first-hand how great product is rendered meaningless if our customers are not satisfied. Our growth is dependent on the satisfaction of our customers.

 

Principle #3: Invent and Simplify

Innovation is key to any company with goals of achieving success. The inability to change and develop new products or ideas will always hinder growth. However, Simplicity is the main component to innovation; Steve Jobs once said, “The best design is the simplest.” Companies that implement this principle will be limitless in all aspects of their development.

 

Principle #4: Hire and Develop the Best

Successful companies require exceptional individuals determined to take the company to great lengths. Hiring the best ensures delivery of the best results, therefore, it is crucial for a company to organize a solid team that can handle pressure and rise to the occasion on command.  

 

Principle #14: Deliver Results

Combining and implementing the above mentioned principles will guide companies into delivering excellent results. Timely execution is just as important as preparation. No matter the setbacks, maintaining consistent actionable steps will grow any company to its full potential.

 

As the entrepreneur’s brand we are always finding new ways to improve our products and meet the needs of our customers. We refuse to limit the capabilities of our innovations and always strive to deliver the best quality; for those who represent and live the entrepreneur’s brand.

 

You can find the complete principles list on the Amazon website here.

"If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.

We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn't be in this business."

- Jeff Bezos -



Bezos Expeditions

Being a billionaire comes with its own particular lifestyle; however, contrary to popular belief, that lifestyle goes deeper than owning private jets and having a garage filled with exotic cars. Billionaires, just like the rest of us, want to feel fulfilled just as much as anyone else. What best way to fulfill your dreams than by starting your very own venture capital fund? Bezos, wanting to make personal investments in order fund companies that he believed held potential for long-term growth, funded Bezos Expeditions in 2005 in order to facilitate his personal investments in all of the following companies above.

Blue Origin

During the time Amazon was establishing market dominance, Jeff Bezos had other business ventures in mind. Having had a fascination with space travel and the universe ever since his childhood, Bezos made it his destiny to start a company vested in interplanetary space travel. By year 2000, Bezos had accumulated a fortune and invested a hefty amount of it into bringing Blue Origin to life.

 

Similar to its rival competitor SpaceX, Blue Origin is aiming to commercialize space travel. In the hopes of doing so, Blue Origin began building a reusable launch vehicle in 2006 called “The New Shepard”. Following several successful test launches, this space vehicle is intended to be used for Space tourism- accommodating 6 people with plenty of space to move around. The New Shepard is expected to carry its first group of passengers into suborbit this year, 2018. Meanwhile, in the past year, Bezos has built a $205 million space facility in Cape Canaveral. This is where the newest member of the Blue Origin family is being built, “The New Glenn”, a reusable rocket designed for carrying payloads and passengers into orbit and beyond. It is expected to make its first mission in 2020.

 

Blue Origin’s rockets have completely different roles in comparison to SpaceX’s rockets. The New Shepard will be used primarily for sub-orbital space flight, meaning it is designed to travel as far out without leaving the atmosphere. SpaceX’s Falcon 9, on the other hand, is designed to send out satellites and cargo into orbit. Despite the differences, both companies are planning to take humans into space no later than 2019, so if you have $200,000 to spare; consider yourself an astronaut.








Clock of The Long Now & The Washington Post

A huge dilemma for many people today is their inability to think long-term. Bezos, on the other hand, is a firm believer that thinking big and long-term is a major proponent for success. As of last February, Bezos proposed he would be installing a 10,000 year clock in one of the mountains near his Blue Origin facility in Texas. The clock is being built as a representation of long-lasting generations. The Clock of the Long Now was designed to tick every year and shift its big hand every century. Bezos credited Computer scientist Danny Hillis, who came up with the idea back in the 80’s. Costing a whopping $42 million, the clock is set to stand roughly 500 ft tall with installation well on its way.

 

In 2013, Jeff Bezos acquired the Washington Post for $250 million. The company had been in decline for quite some time; however, Bezos considered it a work in progress. In the last 3 years

 

Bezos has given the newspaper company a digital face-lift and completely re-structured the company. Since then, viewership has increased by the millions and the company has become better fitted for the digital age.

 

This is the art of Entrepreneurship; Bezos discovered potential where most did not. Aware of his expertise in data-driven consumerism and e-commerce, he put his money where his mouth is and is now reaping the rewards. As of 2015, The Post amassed more visitors than The New York Times and continues to rake in sales to the tune of millions with its monthly digital subscriptions.


Philanthropy? Sure.

Jeff Bezos is stringent in the funding of Blue Origin, having already poured billions of his own capital into his self-proclaimed “passion project”, one would ask themselves what is the wealthiest man doing with all that money? As of October 2018, Bezos gave all of his Amazon employees a raise by bumping up the minimum wage to $15 an hour. As a fan of charitable wealth like that of Bill and Melinda Gates, Bezos and his wife Mackenzie have made some notable donations themselves. The Bezos’ recently donated $33 million in support of students that came to the United States as children without documentation. They have also contributed $10 million in support of veterans who want to run for congress. Without a doubt, however, their biggest and most recent contribution has been the announcement of the Bezos Day One Fund; allocating $2 billion to helping homeless families and developing pre-schools in low-income neighborhoods.

 

It is safe to say the future of Amazon is limitless; Jeff Bezos is the largest CEO of modern history with billions to contribute to all areas of innovation. His acquisition of numerous companies over the years has demonstrated his mastery as a leader and entrepreneur. The business mogul is building an empire leveraging his devotion to advancing the technological world. As a long term-thinker, Bezos intends to leave a legacy for generations to come; laying out the foundation for the future thinkers, scientists and inventors of the world.

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THE BEZOS EFFECT


Do you remember the last time you went to the store to buy something? No? Neither do I. That new blender you just bought? Chances are it was fulfilled by Amazon. You most likely didn’t even need a new blender; you bought one just because it had 5-star reviews, two-day free shipping and ran you around 25 bucks.

It’s no big deal, just a rippling side-effect of Amazon’s progressive dominance over the modern world. Maybe not so, but the richest man in the world would like to think so; he’s not just rich, he’s 150+ billion dollars rich. His name is Jeff Bezos, an American Entrepreneur; the founder, chairman and CEO of Amazon. He is currently the richest man on Earth, on his way to becoming the richest man in human history right behind Mansa Munsa. Bezos is the first to hit triple-digits in the billionaire’s club and he’s not retiring anytime soon.

The Early Days

Jeff Preston Bezos was born in Albuquerque, New Mexico to a teenage mother. She married Cuban immigrant, Mike Bezos, when Jeff was only 4 years old. Bezos always had a curiosity for how things worked; when he was just a toddler he took apart his crib with a screwdriver in hopes of building a bed. He would spend most summers helping his grandparents on their ranch by repairing machinery and treating farm animals. During his time spent on the ranch, he learned the value of hard work and the wisdom of resourcefulness.

 

In his teenage years, Bezos’ family moved to Miami where he attended Palmetto Senior High. It was here, in these crucial years where Bezos developed his passion for computers. Always standing out from his classmates, Bezos graduated valedictorian of his high school and went on to study computer science in Princeton. After graduating with a degree in Computer Science and Electrical Engineering from Princeton; Bezos worked at a start-up company that designs fiber optic solutions by the name of Fitel (Now known as OFS). Soon after, he landed a job at D.E Shaw, a hedge fund where he eventually worked his way to Senior Vice President. It was in this firm where Bezos met his current wife, Mackenzie Bezos, whom he has four kids with. In 1994, Bezos quit his job and took a leap of faith into the beginning days of the internet era.



The Past, The Present & The Future of Amazon

"A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.

There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second."

- Jeff Bezos -



Jeff Bezos left Wall Street and took a dive into the online world in 1994. In his decision to leave Wall Street, his boss pressured him to continue working for him and even offered him a hefty bonus. Bezos’ parents also heavily advised him against leaving his high-paying job. Although a tough decision, the choice to leave his current job would be one he would never regret.

 

Bezos began by listing all the viable products he thought would be profitable to sell online, however; the idea of selling books stood out most due to their simplicity and standard in the world. Straight out of his garage, Jeff, his wife and 2 programmers began working on a software for his new project. Soon enough, Amazon began selling books all over the United States and internationally. In the first month of Amazon’s launch, sales went through the roof - exceeding all expectations. $20,000 a week in generated revenue in the first two months was just the beginning. Following its exponential levels of growth, early employee accounts remember Bezos expecting each employee to put in a minimum of 60 hour work weeks. The early days of Amazon meant one thing; having no work-life balance. In its infancy stages, the company was so understaffed and Bezos so demanding, every bit of effort and energy was expected of the employees Bezos constantly emphasized the importance of his customers and demanded they received outstanding service. When Barnes and Noble opened their online bookstore, they had around 30,000 employees- Amazon had 125. Despite B&N being a massive competitive threat to Amazon, Bezos constantly reassured his employees that everything would be fine if they only focused on satisfying their customers instead of worrying what their competition was up to.

 

Today, Amazon is the largest online retailer in the world and has held that title for the last couple of years. Being the world’s second company to reach a trillion in market valuation; Amazon is impossible to ignore. Amazon takes up the equivalent amount of space in the online marketplace as does walmart, target and many other e-tailers combined. Having over 135 million weekly customers, 75 fulfillment centers across country and over 120,000 employees, it seems as if Amazon is monopolizing the consumerist world as we know it.

In the meantime, Amazon has been silently acquiring several other companies in order to expand their dominance in the consumer world. Some of the larger acquisitions include companies like Imdb.com, Zappos, Audible.com and even Whole Foods. On that same note, Jeff Bezos currently holds around 17% of Amazons shares. He’s also invested millions of dollars in companies like Google, AirBnB and Uber while successfully exiting other investments like Twitter, Workday and Juno Therapeutics. Bezos knows exactly what his plans for Amazon are- being an online mega-store is just a fraction of the equation.

 

Amazon’s future lies within its simplistic innovation and approach to business. The company aims to continue bridging the gap between AI and voice technology. The Amazon Echo powered by the Alexa voice assistant is a great example of how voice technology is finding its way into the common household. As soon as their Echo technology gained market momentum, more products followed like the Echo Spot, Dot and Plus. Amazon's Alexa Voice Services or AVS for short, was created to implement voice technology into everyday objects we use. Amazon wants to incorporate Alexa into the lifeless objects we use everyday in hopes of automating our lives. . Amazon is betting big on Alexa’s omnipresent integration. More importantly, they are fully confident in their ability to make Alexa operate effortlessly.


Big Data = Big Money

All said and done, Amazon is essentially a giant data company offering cloud-based services utilizing its e-commerce platform as a means to gather precious consumer data. Safe to say, based on your search and purchase history, Amazon most likely knows you better than you know yourself. It’s frightening to conceptualize just how much Artificial Intelligence follows our every move, precisely pinpointing needs and wants; this is the how Amazon and many companies are able to provide superior customer experience.

 

As CEO of Amazon, Bezos has always focused building and scaling the Amazon brand centered around customer value and innovation. He implemented “The Amazon Way”, the 14 core principles that he still lives by today. These core company guidelines are a beautiful demonstration of what it takes to run a successful company and holds no surprise as to how Amazon has managed to make it thus far.

 

Below are a few of Bezos’ 14 core principles with which the ENTRPRNR brand identifies the most with and why.


Bezos' Core Principals X ENTRPRNR

Principle #1: Customer Obsession

Bezos is tenacious when it comes to delivering excellent customer service. His customers are the main reason why Amazon is so successful. Focusing not only on the needs and wants of the customer, but understanding them on a deeper level can make a company stand above the rest. We, as a brand, know first-hand how great product is rendered meaningless if our customers are not satisfied. Our growth is dependent on the satisfaction of our customers.

 

Principle #3: Invent and Simplify

Innovation is key to any company with goals of achieving success. The inability to change and develop new products or ideas will always hinder growth. However, Simplicity is the main component to innovation; Steve Jobs once said, “The best design is the simplest.” Companies that implement this principle will be limitless in all aspects of their development.

 

Principle #4: Hire and Develop the Best

Successful companies require exceptional individuals determined to take the company to great lengths. Hiring the best ensures delivery of the best results, therefore, it is crucial for a company to organize a solid team that can handle pressure and rise to the occasion on command.  

 

Principle #14: Deliver Results

Combining and implementing the above mentioned principles will guide companies into delivering excellent results. Timely execution is just as important as preparation. No matter the setbacks, maintaining consistent actionable steps will grow any company to its full potential.

 

As the entrepreneur’s brand we are always finding new ways to improve our products and meet the needs of our customers. We refuse to limit the capabilities of our innovations and always strive to deliver the best quality; for those who represent and live the entrepreneur’s brand.

 

You can find the complete principles list on the Amazon website here.

"If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.

We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn't be in this business."

- Jeff Bezos -



Bezos Expeditions

Being a billionaire comes with its own particular lifestyle; however, contrary to popular belief, that lifestyle goes deeper than owning private jets and having a garage filled with exotic cars. Billionaires, just like the rest of us, want to feel fulfilled just as much as anyone else. What best way to fulfill your dreams than by starting your very own venture capital fund? Bezos, wanting to make personal investments in order fund companies that he believed held potential for long-term growth, funded Bezos Expeditions in 2005 in order to facilitate his personal investments in all of the following companies above.



Blue Origin

During the time Amazon was establishing market dominance, Jeff Bezos had other business ventures in mind. Having had a fascination with space travel and the universe ever since his childhood, Bezos made it his destiny to start a company vested in interplanetary space travel. By year 2000, Bezos had accumulated a fortune and invested a hefty amount of it into bringing Blue Origin to life.

 

Similar to its rival competitor SpaceX, Blue Origin is aiming to commercialize space travel. In the hopes of doing so, Blue Origin began building a reusable launch vehicle in 2006 called “The New Shepard”. Following several successful test launches, this space vehicle is intended to be used for Space tourism- accommodating 6 people with plenty of space to move around. The New Shepard is expected to carry its first group of passengers into suborbit this year, 2018. Meanwhile, in the past year, Bezos has built a $205 million space facility in Cape Canaveral. This is where the newest member of the Blue Origin family is being built, “The New Glenn”, a reusable rocket designed for carrying payloads and passengers into orbit and beyond. It is expected to make its first mission in 2020.

 

Blue Origin’s rockets have completely different roles in comparison to SpaceX’s rockets. The New Shepard will be used primarily for sub-orbital space flight, meaning it is designed to travel as far out without leaving the atmosphere. SpaceX’s Falcon 9, on the other hand, is designed to send out satellites and cargo into orbit. Despite the differences, both companies are planning to take humans into space no later than 2019, so if you have $200,000 to spare; consider yourself an astronaut.


Clock of The Long Now & The Washington Post

A huge dilemma for many people today is their inability to think long-term. Bezos, on the other hand, is a firm believer that thinking big and long-term is a major proponent for success. As of last February, Bezos proposed he would be installing a 10,000 year clock in one of the mountains near his Blue Origin facility in Texas. The clock is being built as a representation of long-lasting generations. The Clock of the Long Now was designed to tick every year and shift its big hand every century. Bezos credited Computer scientist Danny Hillis, who came up with the idea back in the 80’s. Costing a whopping $42 million, the clock is set to stand roughly 500 ft tall with installation well on its way.

 

In 2013, Jeff Bezos acquired the Washington Post for $250 million. The company had been in decline for quite some time; however, Bezos considered it a work in progress. In the last 3 years

 

Bezos has given the newspaper company a digital face-lift and completely re-structured the company. Since then, viewership has increased by the millions and the company has become better fitted for the digital age.

 

This is the art of Entrepreneurship; Bezos discovered potential where most did not. Aware of his expertise in data-driven consumerism and e-commerce, he put his money where his mouth is and is now reaping the rewards. As of 2015, The Post amassed more visitors than The New York Times and continues to rake in sales to the tune of millions with its monthly digital subscriptions.

Philanthropy? Sure.

Jeff Bezos is stringent in the funding of Blue Origin, having already poured billions of his own capital into his self-proclaimed “passion project”, one would ask themselves what is the wealthiest man doing with all that money? As of October 2018, Bezos gave all of his Amazon employees a raise by bumping up the minimum wage to $15 an hour. As a fan of charitable wealth like that of Bill and Melinda Gates, Bezos and his wife Mackenzie have made some notable donations themselves. The Bezos’ recently donated $33 million in support of students that came to the United States as children without documentation. They have also contributed $10 million in support of veterans who want to run for congress. Without a doubt, however, their biggest and most recent contribution has been the announcement of the Bezos Day One Fund; allocating $2 billion to helping homeless families and developing pre-schools in low-income neighborhoods.

 

It is safe to say the future of Amazon is limitless; Jeff Bezos is the largest CEO of modern history with billions to contribute to all areas of innovation. His acquisition of numerous companies over the years has demonstrated his mastery as a leader and entrepreneur. The business mogul is building an empire leveraging his devotion to advancing the technological world. As a long term-thinker, Bezos intends to leave a legacy for generations to come; laying out the foundation for the future thinkers, scientists and inventors of the world.

THE BEZOS EFFECT


Do you remember the last time you went to the store to buy something? No? Neither do I. That new blender you just bought? Chances are it was fulfilled by Amazon. You most likely didn’t even need a new blender; you bought one just because it had 5-star reviews, two-day free shipping and ran you around 25 bucks.

It’s no big deal, just a rippling side-effect of Amazon’s progressive dominance over the modern world. Maybe not so, but the richest man in the world would like to think so; he’s not just rich, he’s 150+ billion dollars rich. His name is Jeff Bezos, an American Entrepreneur; the founder, chairman and CEO of Amazon. He is currently the richest man on Earth, on his way to becoming the richest man in human history right behind Mansa Munsa. Bezos is the first to hit triple-digits in the billionaire’s club and he’s not retiring anytime soon.

The Early Days

Jeff Preston Bezos was born in Albuquerque, New Mexico to a teenage mother. She married Cuban immigrant, Mike Bezos, when Jeff was only 4 years old. Bezos always had a curiosity for how things worked; when he was just a toddler he took apart his crib with a screwdriver in hopes of building a bed. He would spend most summers helping his grandparents on their ranch by repairing machinery and treating farm animals. During his time spent on the ranch, he learned the value of hard work and the wisdom of resourcefulness.

 

In his teenage years, Bezos’ family moved to Miami where he attended Palmetto Senior High. It was here, in these crucial years where Bezos developed his passion for computers. Always standing out from his classmates, Bezos graduated valedictorian of his high school and went on to study computer science in Princeton. After graduating with a degree in Computer Science and Electrical Engineering from Princeton; Bezos worked at a start-up company that designs fiber optic solutions by the name of Fitel (Now known as OFS). Soon after, he landed a job at D.E Shaw, a hedge fund where he eventually worked his way to Senior Vice President. It was in this firm where Bezos met his current wife, Mackenzie Bezos, whom he has four kids with. In 1994, Bezos quit his job and took a leap of faith into the beginning days of the internet era.



The Past, The Present & The Future of Amazon

"A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.

There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second."

- Jeff Bezos -


Jeff Bezos left Wall Street and took a dive into the online world in 1994. In his decision to leave Wall Street, his boss pressured him to continue working for him and even offered him a hefty bonus. Bezos’ parents also heavily advised him against leaving his high-paying job. Although a tough decision, the choice to leave his current job would be one he would never regret.

 

Bezos began by listing all the viable products he thought would be profitable to sell online, however; the idea of selling books stood out most due to their simplicity and standard in the world. Straight out of his garage, Jeff, his wife and 2 programmers began working on a software for his new project. Soon enough, Amazon began selling books all over the United States and internationally. In the first month of Amazon’s launch, sales went through the roof - exceeding all expectations. $20,000 a week in generated revenue in the first two months was just the beginning. Following its exponential levels of growth, early employee accounts remember Bezos expecting each employee to put in a minimum of 60 hour work weeks. The early days of Amazon meant one thing; having no work-life balance. In its infancy stages, the company was so understaffed and Bezos so demanding, every bit of effort and energy was expected of the employees Bezos constantly emphasized the importance of his customers and demanded they received outstanding service. When Barnes and Noble opened their online bookstore, they had around 30,000 employees- Amazon had 125. Despite B&N being a massive competitive threat to Amazon, Bezos constantly reassured his employees that everything would be fine if they only focused on satisfying their customers instead of worrying what their competition was up to.

 

Today, Amazon is the largest online retailer in the world and has held that title for the last couple of years. Being the world’s second company to reach a trillion in market valuation; Amazon is impossible to ignore. Amazon takes up the equivalent amount of space in the online marketplace as does walmart, target and many other e-tailers combined. Having over 135 million weekly customers, 75 fulfillment centers across country and over 120,000 employees, it seems as if Amazon is monopolizing the consumerist world as we know it.

In the meantime, Amazon has been silently acquiring several other companies in order to expand their dominance in the consumer world. Some of the larger acquisitions include companies like Imdb.com, Zappos, Audible.com and even Whole Foods. On that same note, Jeff Bezos currently holds around 17% of Amazons shares. He’s also invested millions of dollars in companies like Google, AirBnB and Uber while successfully exiting other investments like Twitter, Workday and Juno Therapeutics. Bezos knows exactly what his plans for Amazon are- being an online mega-store is just a fraction of the equation.

 

Amazon’s future lies within its simplistic innovation and approach to business. The company aims to continue bridging the gap between AI and voice technology. The Amazon Echo powered by the Alexa voice assistant is a great example of how voice technology is finding its way into the common household. As soon as their Echo technology gained market momentum, more products followed like the Echo Spot, Dot and Plus. Amazon's Alexa Voice Services or AVS for short, was created to implement voice technology into everyday objects we use. Amazon wants to incorporate Alexa into the lifeless objects we use everyday in hopes of automating our lives. . Amazon is betting big on Alexa’s omnipresent integration. More importantly, they are fully confident in their ability to make Alexa operate effortlessly.




Big Data = Big Money.

All said and done, Amazon is essentially a giant data company offering cloud-based services utilizing its e-commerce platform as a means to gather precious consumer data. Safe to say, based on your search and purchase history, Amazon most likely knows you better than you know yourself. It’s frightening to conceptualize just how much Artificial Intelligence follows our every move, precisely pinpointing needs and wants; this is the how Amazon and many companies are able to provide superior customer experience.

 

As CEO of Amazon, Bezos has always focused building and scaling the Amazon brand centered around customer value and innovation. He implemented “The Amazon Way”, the 14 core principles that he still lives by today. These core company guidelines are a beautiful demonstration of what it takes to run a successful company and holds no surprise as to how Amazon has managed to make it thus far.

 

Below are a few of Bezos’ 14 core principles with which the ENTRPRNR brand identifies the most with and why.


Bezos' Core Principles X ENTRPRNR

Principle #1: Customer Obsession

Bezos is tenacious when it comes to delivering excellent customer service. His customers are the main reason why Amazon is so successful. Focusing not only on the needs and wants of the customer, but understanding them on a deeper level can make a company stand above the rest. We, as a brand, know first-hand how great product is rendered meaningless if our customers are not satisfied. Our growth is dependent on the satisfaction of our customers.

 

Principle #3: Invent and Simplify

Innovation is key to any company with goals of achieving success. The inability to change and develop new products or ideas will always hinder growth. However, Simplicity is the main component to innovation; Steve Jobs once said, “The best design is the simplest.” Companies that implement this principle will be limitless in all aspects of their development.

 

Principle #4: Hire and Develop the Best

Successful companies require exceptional individuals determined to take the company to great lengths. Hiring the best ensures delivery of the best results, therefore, it is crucial for a company to organize a solid team that can handle pressure and rise to the occasion on command.  

 

Principle #14: Deliver Results

Combining and implementing the above mentioned principles will guide companies into delivering excellent results. Timely execution is just as important as preparation. No matter the setbacks, maintaining consistent actionable steps will grow any company to its full potential.

 

As the entrepreneur’s brand we are always finding new ways to improve our products and meet the needs of our customers. We refuse to limit the capabilities of our innovations and always strive to deliver the best quality; for those who represent and live the entrepreneur’s brand.

 

You can find the complete principles list on the Amazon website here.

"If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.

We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn't be in this business."

- Jeff Bezos -



Bezos Expeditions

Being a billionaire comes with its own particular lifestyle; however, contrary to popular belief, that lifestyle goes deeper than owning private jets and having a garage filled with exotic cars. Billionaires, just like the rest of us, want to feel fulfilled just as much as anyone else. What best way to fulfill your dreams than by starting your very own venture capital fund? Bezos, wanting to make personal investments in order fund companies that he believed held potential for long-term growth, funded Bezos Expeditions in 2005 in order to facilitate his personal investments in all of the following companies above.





Blue Origin

During the time Amazon was establishing market dominance, Jeff Bezos had other business ventures in mind. Having had a fascination with space travel and the universe ever since his childhood, Bezos made it his destiny to start a company vested in interplanetary space travel. By year 2000, Bezos had accumulated a fortune and invested a hefty amount of it into bringing Blue Origin to life.

 

Similar to its rival competitor SpaceX, Blue Origin is aiming to commercialize space travel. In the hopes of doing so, Blue Origin began building a reusable launch vehicle in 2006 called “The New Shepard”. Following several successful test launches, this space vehicle is intended to be used for Space tourism- accommodating 6 people with plenty of space to move around. The New Shepard is expected to carry its first group of passengers into suborbit this year, 2018. Meanwhile, in the past year, Bezos has built a $205 million space facility in Cape Canaveral. This is where the newest member of the Blue Origin family is being built, “The New Glenn”, a reusable rocket designed for carrying payloads and passengers into orbit and beyond. It is expected to make its first mission in 2020.

 

Blue Origin’s rockets have completely different roles in comparison to SpaceX’s rockets. The New Shepard will be used primarily for sub-orbital space flight, meaning it is designed to travel as far out without leaving the atmosphere. SpaceX’s Falcon 9, on the other hand, is designed to send out satellites and cargo into orbit. Despite the differences, both companies are planning to take humans into space no later than 2019, so if you have $200,000 to spare; consider yourself an astronaut.


Clock of The Long Now & The Washington Post

A huge dilemma for many people today is their inability to think long-term. Bezos, on the other hand, is a firm believer that thinking big and long-term is a major proponent for success. As of last February, Bezos proposed he would be installing a 10,000 year clock in one of the mountains near his Blue Origin facility in Texas. The clock is being built as a representation of long-lasting generations. The Clock of the Long Now was designed to tick every year and shift its big hand every century. Bezos credited Computer scientist Danny Hillis, who came up with the idea back in the 80’s. Costing a whopping $42 million, the clock is set to stand roughly 500 ft tall with installation well on its way.

 

In 2013, Jeff Bezos acquired the Washington Post for $250 million. The company had been in decline for quite some time; however, Bezos considered it a work in progress. In the last 3 years

 

Bezos has given the newspaper company a digital face-lift and completely re-structured the company. Since then, viewership has increased by the millions and the company has become better fitted for the digital age.

 

This is the art of Entrepreneurship; Bezos discovered potential where most did not. Aware of his expertise in data-driven consumerism and e-commerce, he put his money where his mouth is and is now reaping the rewards. As of 2015, The Post amassed more visitors than The New York Times and continues to rake in sales to the tune of millions with its monthly digital subscriptions.

"One of the only ways to get out of a tight box is to invent your way out.

If you double the number of experiments you do per year you’re going to double your inventiveness."

- Jeff Bezos -



Philanthropy? Sure.

Jeff Bezos is stringent in the funding of Blue Origin, having already poured billions of his own capital into his self-proclaimed “passion project”, one would ask themselves what is the wealthiest man doing with all that money? As of October 2018, Bezos gave all of his Amazon employees a raise by bumping up the minimum wage to $15 an hour. As a fan of charitable wealth like that of Bill and Melinda Gates, Bezos and his wife Mackenzie have made some notable donations themselves. The Bezos’ recently donated $33 million in support of students that came to the United States as children without documentation. They have also contributed $10 million in support of veterans who want to run for congress. Without a doubt, however, their biggest and most recent contribution has been the announcement of the Bezos Day One Fund; allocating $2 billion to helping homeless families and developing pre-schools in low-income neighborhoods.

 

It is safe to say the future of Amazon is limitless; Jeff Bezos is the largest CEO of modern history with billions to contribute to all areas of innovation. His acquisition of numerous companies over the years has demonstrated his mastery as a leader and entrepreneur. The business mogul is building an empire leveraging his devotion to advancing the technological world. As a long term-thinker, Bezos intends to leave a legacy for generations to come; laying out the foundation for the future thinkers, scientists and inventors of the world.