Three years ago I was in New York City working for a quantitative hedge fund when it came across the startling statistic the web usage was growing at 2,300 percent a year so I decided I would try and find a business plan that made sense in the context of that growth.
I picked books as the first best product to saw online which making a list like 20 different products that she might be able to sell and books were great as the first best because books are incredibly unusual in one respect that is that there are more items in the book category and there are items than any other category by far.
For the first time that actually has real value for the customer that’s a hard thing to do but if you do that then newspapers will write about you what you’re doing customers will tell other customers you’ll get a huge word-of-mouth fan out and and that can really drive and accelerate businesses and that’s what happened with us in the first year of opening Amazon become to the public we didn’t do any paid advertising and all of our growth was fueled by word-of-mouth.
- How Amazon Makes Money: Amazon Business Model in a Nutshell
- What Is the Receivables Turnover Ratio? How Amazon Receivables Management Helps Its Explosive Growth
- Amazon Case Study: Why from Product to Subscription You Need to “Swallow the Fish”
- What Is Cash Conversion Cycle? Amazon Cash Machine Business Model Explained
- Why Is AWS so Important for Amazon Future Business Growth?
- Amazon Flywheel: Amazon Virtuous Cycle In A Nutshell
- Amazon Value Proposition In A Nutshell
- Why Amazon Is Doubling Down On AWS
- The Economics Of The Amazon Seller Business In A Nutshell
- How Much Is Amazon Advertising Business Worth?
- What Is the Cost per First Stream Metric? Amazon Prime Video Revenue Model Explained
- Jeff Bezos Teaches You When Judgment Is Better Than Math And Data
- Alibaba vs. Amazon Compared in a Single Infographic
- Amazon Mission Statement and Vision Statement In A Nutshell