Three guiding principles learned from Amazon

06/12/2011

Last time, I made the case that Amazon provides a model for success in the new Internet economy. In reviewing their succes, we can formulate three guiding principles behind Amazon that benefit us all.

First: Change is here to stay.

Business as usual is a thing of the past. Don’t rest on past successes and don’t be afraid to cannibalize your products or services. The status quo is you can’t rely on the status quo.

Second: Customers are in the driver’s seat.

Listen to them. Give them choices. Give them a consistent, high quality experience. Allow them to collaborate. If you won’t or can’t do these things, they will find others who will.

Third: Stay out in front of your customers.

Yes – they are driving but you have the opportunity to build the road. Anticipate their needs and innovate. Keep raising the bar for yourself, for your customers and for your competitors.

Thanks for reading – see you soon!

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