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Amazon’s Jeff Bezos shares tips for budding entrepreneurs: Big failures move needle

Amazon’s Jeff Bezos shares tips for budding entrepreneurs: Big failures move needle – The Financial Express

Amazon, which has over 100 million prime subscribers, is one of the most valuable companies of the world along with Apple and Microsoft.

Amazon founder Jeff Bezos

Amazon founder and the richest man in the world Jeff Bezos has some words of wisdom for the new age entrepreneurs on how to make it big. He said that big failures are needed in order to move the needle. At a recent conference in Las Vegas, he said that budding entrepreneurs should come to accept that their business is in many ways an experiment and hence stands a chance to fail. However, that is not troublesome and it is the part of the risk. “The good news is at Amazon, we still take risks all the time, and we encourage it. We talk about failure. Our failures have to grow with the company,” the e-commerce platform founder said. Billion dollar-scale failures indicate that “we are swinging hard”.

ICYMI: Amazon’s Jeff Bezos shares some of the secrets behind his success at a conference in Las Vegas pic.twitter.com/Zl9CnHSkBh

— Reuters Top News (@Reuters) June 13, 2019

Further, the 55-year-old entrepreneur said that instead of satisfying the customers, the priority should be to absolutely delight them. “If you want to be an entrepreneur, you need to be obsessed with the customer,” Bezos told the gathering.

Amazon, which has over 100 million prime subscribers, is one of the most valuable companies of the world along with Apple and Microsoft. The company has a market cap of over $900 billion.

In India, Amazon has recently come up with a freelance delivery system called Amazon Flex. Anyone can now become a delivery partner with the company and earn Rs 120-140 per hour. Amazon India aims to create more job opportunities while also expanding its logistics. The company ran a pilot for two weeks before launching it in Bengaluru, Mumbai and Delhi. More cities will be added later this year.

Jeff Bezos has been the world’s richest man for two years now after dethroning the long-standing winner Bill Gates. He is worth $131 billion as of 2019. However, with the news of his divorce with Mackenzie Bezos, he may not be able to hold the majority stake of the company. According to Washington State law, divorcing spouses are required to equitably divide “community property,” including all income generated during a marriage, Forbes reported.

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Source: Financial Express