Jeff Bezos started Amazon.com without fanfare in 1994. Through a ruthless obsession on serving the customer and constant innovation, Bezos created one of the world's most valuable companies.
Also, he was recently named the richest person in modern history.
The story of Amazon's success contains a hidden lesson, and a warning – for architecture firm owners. Ignore this lesson at your own peril.
Last week a firm owner reached out to me for some advice. We had a quick phone call where he shared his frustration at negative cash flow and profit.
His predicament is the result of ignoring some key business fundamentals over the course of years.
Unfortunately, it takes time to correct a ship that has gone so far off course.
Watch this video to discover the important lesson Jeff Bezos teaches us about running an impactful and successful firm.
What we cover:
- Why Amazon has managed to put the squeeze on local retailers, putting many out of business (it isn't just through lower prices)
- Why innovating in your firm is essential to survival (innovating in both the practice and the business of architecture)
- The important difference between cause and symptom (if you miss this your firm's days are numbered)
Watch the video above and leave your comments below. What do you think?