Why does Amazon keep taking market share from rivals and what can you do about it? Here are four keys to Jeff Bezos’s success that will propel him past Bill Gates to become the world’s richest person.
Peter Cohan is a Lecturer of Business Strategy and Entrepreneurship at Babson College. Starting July 11, 2017–take Cohan’s free Babson X course, Digital Strategy and Action.
1. Obsessive Customer-focus
2. Providing more for the money
3. Superior execution
4. Relentless innovation
- Apply the five tests of a great entrepreneurial idea
- Use prototypes to discover the best product/market fit
- Maintain control by varying capital sources at four stages of startup development
- Win market share by delivering customers a quantum value leap
- Build a culture that attracts top talent and turns customers into advocates
- Chain five vectors into a sustainable growth trajectory