Jeff Bezos Remained Focused is a blog post with a simple but powerful message. You must remain focused if you want to achieve something great.
Focus gives you a destination to walk towards…
This video is living proof that having a clear focus and staying focused are a key part of any successful entrepreneur’s mindset.
Jeff’s FEEL4 path would have been simple and may have looked something like this:
I am focusing on building an online business called Amazon which sells books and will grow massively in the next ten years or more.
I feel energized to grow Amazon.com into a huge online business because I found out that web usage was growing at 2300% a year! I feel energized to watch the company sell as many books as possible, including some hard to get titles to help customers out as much as I can.
ENGAGE & LEARN
I am engaging with and learning from the following actions:
1. I am engaging with understanding what is the best item to sell online.
1.1 I am learning that books suit the 2300% annual growth target because there are more items in the book category than any other item by far.
1.2 – I am learning that music is the second product that holds a lot of items in each category to sell.
1.3 – I am learning that with so many items you can build a store online which couldn’t exist in any other way. Books are a perfect item to suit the online retail space.
2. I am engaging with sourcing and selling books online.
2.1 – I am learning that it is best to have around 2,000 best selling titles on inventory which are based in our own Amazon warehouses. This means we do not have to pay too much for the physical holding of stock.
2.2 – I am learning that it is good to have an additional 400,000 titles which are sourced and provided by a network of electronic wholesalers and distributors which can deliver books the next day.
2.3 – I am learning that we can also have another 1.1 million titles supplied by different publishers but these take a couple of weeks to be supplied.
2.4 – I am learning that sourcing 1 million out of print books is also a strong part of the business model as Amazon is being seen more and more as THE place to go to find books that you could otherwise spend a lifetime searching for. This longer service takes more time but creates a strong customer to business relationship.
2.5 – I am learning that “Almost-In-time-Inventory” are titles below the best 2,000th best selling book and up to the 400,000th best selling book, these are titles we can get from a dozen different wholesalers.
3. I am engaging with capturing mind share and promoting / advertising the Amazon business.
3.1 – I am learning that capturing “attention” is the scarce commodity of the twentieth century. I am learning that being new and innovative and providing real value to the customer is hard to do but if you do it customers start to tell others naturally.
3.2 – I am learning that word of mouth customer recommendations to use Amazon services are free of charge and produce massive growth when advertising funds are low. I am learning that for twelve months I have not had to pay for advertising!
3.3 – I am learning that media exposure is also another way to generate some free publicity to grow a new business.
3.4 – I am learning advertising on the New York Times is extremely difficult to track in 1997. Tracking is very important to understand what is working and what isn’t. Banner ads have proved much better to understand the ROI of ad costs versus the return of customers buying.
3.5 – I am learning that it is very exciting to build an online company.
This video holds a great deal of hope for anyone who is just starting out with a goal. It shows that if you have a strong focus and remain motivated and if you are willing to constantly engage with actions and learn from them, you are guaranteed success.