It’s not all about disruption after all. For Amazon CEO Jeff Bezos it’s to do with focussing on the things that won’t change rather than on upheaval. You should build a business strategy around the things you know are stable over time and then invest heavily to ensure you are providing those things all the time. "When you have something that you know is true, even over the long-term, you can afford to put a lot of energy into it," he says.
So, what is Amazon’s amazing insight? Customers always want lower prices, along with speedy shipping. “It’s impossible to imagine a future 10 years from now where a customer comes up and says, ‘Jeff I love Amazon, I just wish the prices were a little higher,’.”
We might have ignored this piece in Business Insider if it hadn't carried the headline ‘Jeff Bezos' brilliant advice for anyone running a business’. So brilliant, in fact, that Amazon has struggled to be a profitable operation. And while it did turn a small profit in its last quarter, over the last year it posted a net loss of over $240 million, even though revenues spiked 20% to an enormous $29 billion. Plus some analysts are forecasting a loss of up to $450 million for the current quarter. Amazon needs to care about profitability – it's no Silicon Valley start-up, after all.
But back to the ‘brilliant’ headline. At least, Business Insider publishes a disclosure at the end of the piece: ‘Jeff Bezos is an investor in Business Insider’. BI used to be a decent publication but it’s gone pretty sensationalist recently- not that we’re blaming Jeff – and can’t seem to avoid those Buzzfeed-style listicles beginning ‘The 1o most…’ and ‘The 5 worst…’. That might have to change now that BuzzFeed has just come out with a brand new editorial standards guide.