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The Everything Store: Jeff Bezos and the Age of Amazon
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Amazing Amazon.com And Its Brilliant CEO/Founder
By Rebecca*rhapsodyinblue*
"There is so much stuff that has yet to be invented.
There's so much new that's going to happen.
People don't have any idea yet how impactful the Internet is going to be and that it is still Day 1 in such a big way." ~ Jeff Bezos ~
Following the death of Apple's brilliant CEO, Steve Jobs, in October of 2011, there were many articles written on who will be the next Steve Jobs. One such article was from CNN written by Doug Gross who came up with a list of dotcom CEOs and high-powered executives who are worth considering. On top of the list is technology genius, visionary, innovator, dynamic CEO of Earth's biggest online retail store, Amazon.com. Many, including myself, believe that the most likely candidate would be Jeff Bezos, who at an early age, had already demonstrated genius-like qualities and outside-the-box thinking. And there are quite a number of similarities between the two.
Brad Stone, a senior writer for Bloomberg Businessweek who has covered Amazon and Silicon Valley technology for many years for Newsweek and New York Times publications, has written a well-crafted, most comprehensive, no-holds-barred 372-page-hardcover that is filled with a wealth of information on amazing Amazon.com and its brilliant Founder/CEO, Jeff Bezos, who is one of the greatest and most famous personalities in technology industry and business sector in the last two decades. The author's prose is sublime and his writing style is exemplary--the kind that commands the readers' undivided attention and stay focused and engrossed with their reading.
Although I have read a lot of articles, news reports and information about Amazon on both print and digital media, reading this book gave me more insight on how Jeff Bezos--with his carefully selected team of smart people from newly graduates to seasoned executives from other companies--run Amazon.com and made it what it is today--a multi-billion-global-company that has 97K manpower worldwide. It has evolved from an online bookstore to "everything store" that sells 200 items per second and has become a one-stop-shop and go-to site for online shopping. A few years ago a new fulfillment center was opened in San Bernardino, California.
"The Everything Store - Jeff Bezos and The Age of Amazon" is an interesting and enthralling book from start to finish and is extremely detailed to the extent that the reader feels privileged and privy to the inside world of the giant online retail store and its highly-intellectual leader and his team. It takes the reader into the most intriguing behind-the-scenes of Amazon's operation. In a way, he reminds me of my boss in the past, a Senior Vice President, Trust and Investment Department of a fast-growing financial institution who expected everyone from his department to be focused 110% and excel in every project they do and whose mantra was "I want results, not reasons." He was one of the very best, highly-educated, well-respected SVPs we had and we looked up to him as a role model. Through him, we all learned how to develop an excellent work ethic and how to deliver results in a timely manner.
The success and incredible growth of Amazon.com is phenomenal. Of course, it was not at all smooth-sailing along the way. There were tough times too during its first few years of operation. Brad Stone mentioned that "the company had lost $52K in 1994 and was on track to lose another $300K that year." But for Jeff Bezos and his excellent team, tough times never last. They were well-equipped with brilliant ideas, strategies, drive and determination that were utilized to the fullest during those tough times. His four secrets of success are: Customer Obsession, Invention, Long-Term Thinking and It's Always Day 1. On May 15, 1997, Amazon went public and traded an IPO of $18 per share. It was a tremendous success and raised a whopping amount of $54 Million which resulted in the company's 900% growth in annual revenues. Now the stock is valued at over $700 per share.
In the past two decades the Princeton Summa Cum Laude has come a long way and became a business savvy and sharp negotiator as evidenced by his acquisitions of Zappos for $900 Million, Quidsi for $540 Million and of late The Washington Post for $250 Million. His other business ventures include Blue Origin, Bezos Expeditions and Bezos Family Foundation. It doesn't take a Brain Surgeon to figure out the huge success of Jeff Bezos and Amazon.com. He has a remarkable business acumen and not to mention his lofty goals with pinpoint accuracy.
In 1999, he was named by TIME magazine as Person of The Year. Forbes named him as one of "America's Best Leaders" and he is ranked #15 on their list of "The World's Most Powerful People 2013." He was also featured as "Person of The Week" in Diane Sawyer's World News at ABC sometime in August of 2013.
The following are some interesting quotes that I've found to be noteworthy:
"Jeff is very clear and simple about his goals, and the way he articulates them makes it easy for others, because it's consistent. If you look at why Amazon is so different than almost any other company that started early on the Internet, it's because Jeff approached it from the very beginning with that long-term vision." ~ Danny Hillis ~
"At Amazon there were a hundred and fifty good ideas all the time and Jeff was capable of developing a new one every day." ~ Joe Galli, Jr. ~
"I have realized about myself that I'm very motivated by people counting on me. I like to be counted on." ~ Jeff Bezos ~
"Like other great entrepreneurs, including Walt Disney, Henry Ford and Steve Jobs, Bezos was turning imagination into reality, the fancies of his youth into actual physical things." ~ Brad Stone ~
"When we go ask him questions, it's worth listening to his answers." ~ Rodney Brooks ~
"Every anecdote from a customer matters. We research each of them because they tell us something about our metrics and processes. It's an audit that is done for us by our customers. We treat them as precious sources of information." ~ Jeff Wilke ~
"Amazon may be the most beguiling company that ever existed, and it is just getting started." ~ Brad Stone ~
P.S. The Everything Store: Jeff Bezos and The Age of Amazon" won the prestigious 2013 Financial Times and Goldman Sachs Business Book of The Year Award. Congratulations to Brad Stone for being the winner for 2013. The awarding was held in London on November 18, 2013.
There were six most influential business books that were selected by the judging panel as finalists then they narrowed them down to three titles including "The Everything Store," "The Billionaire's Apprentice" and "The Alchemists."
One of the judges described "The Everything Store" as "inspirational for the young entrepreneurs and it was full of management lessons." Other descriptions of the book include the following:
"Most compelling and enjoyable business book."
"Must-read for disrupters around the world."
"Provocative take on Amazon's transformation of the publishing, consumer electronics and cloud computing industries."
P.P.S. Thank you Amazon.com for being amazing and Jeff Bezos for being awesomely brilliant! I wish you more power and success!
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