Jeff Bezos -Secrets Of Success To Inspire You

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Jeff Bezos holds the 1st position in the 10 richest people list.

If you want to be rich, then you have to deeply analyze the biography and success stories of the top 10 richest people in the world. Here is the quick story of Jeff Bezos.

Quick Review
  • Date of Birth: January 12, 1964 (age 56)
  • Nationality: American
  • Children: four
  • Spouse: MacKenzie Scott (m. 1993–2019)
  • Business/es:
    • Amazon.com, Inc. (e-commerce)
    • The Washington Post
    • Blue Origin (space exploration company)
  • Wealth (2020): $ 184.4 billion

Inspiring Story

Early life

Jeff Bezos was one of the Top 10 richest people in the world since 2017, and now he is the richest person in the world. But was he always rich? No, he was not.
Diamond is transformed from coal under tremendous pressure, extreme heating, and in the absence of air. However, some people can make it fast just by thinking differently. Jeff Bezos is one of them.

Family

When Jeff Bezos was born, his mother was a seventeen years old school student. His father was a bike shop owner. Doesn’t seems like a rich background, does it? But that’s not all. His parents divorced one year after the marriage and he stayed with his mother. Now that is not good for a child, he deserves a happy and strong family. Anyway, let’s move on. His mother married a Cuban immigrant Miguel Mike Bezos in April 1968.

Was his new dad a good father? Well yes! He adopted Jeff as his son legally and raised him with love and care. On top of that, shortly after marriage, Mike adopted four-year-old Jorgensen, whose surname was then changed to Bezos. After moving to Houston, Texas, Mike worked as an engineer for Exxon. Now that’s a happy family. Loving parents, good income, and a caring sister. Wait, there is more, the person who catalyzed Jeff Bezos to be what he is today was no other person but his paternal grandfather. We have to learn a lot from his family too.

Things to know!

How he started his career? Was he an intelligent child? Was he an innovative thinker? Was he a creative-minded kid?…… Yes to all, except for the first one because it needs a detailed answer. There is one more question about Jeff Bezos, “was he a good student”? Absolutely yes. You don’t have to be a bad student to be great in the future (like some of the scientists and inventors), so better focus on your studies.

Intellectual level and Achievements

Jeff often displayed scientific interests and technological proficiency. For example, to keep his sibling out of his room, instead of sticking a note at his door, he made an alarm. Be careful about his privacy or you will face an alarming situation. His family moved to Miami, Florida, where Bezos attended Miami Palmetto High School in nearby Pinecrest, Florida. He worked as a short-order line cook at McDonald’s while he was in high school. So many people had their meals without knowing that it was from the future wealthiest businessman, isn’t it fun? “Cook Jeff Bezos at your service, how may I help you?” If you have a chance to go back in the past at that time, what would you order?

At the University of Florida, he attended the Student Science Training Program. He was a National Merit Scholar and a Silver Knight Award winner in 1982. He was also a high school valedictorian. In his graduation speech, Bezos told the audience his dream of colonizing space (later he build space exploration company, Blue Origin).

He is a man of success. He has always been a leader, pursuing his dream, getting closer and closer to his goal every day. In 1986, he graduated summa cum laude from Princeton University with a 4.2 GPA and a Bachelor of Science in Engineering (BSE) in electrical engineering and computer science. Being a brilliant student, he was also a member of Phi Beta Kappa. While at Princeton, Bezos was a member of the Quadrangle Club. He always sticks with his dream; he was elected to Tau Beta Pi and was the president of the Princeton chapter of the Students for the Exploration and Development of Space (SEDS).

Business Career

It is the series of his jobs before founding Amazon.com, and after Bezos graduated from Princeton University in 1986.

His first job was at Fitel, a fintech telecommunications start-up, where his task was to build a network for international trade.

Soon Bezos became head of development and director of customer service.

He switched into the banking industry and became a product manager at Bankers Trust.

In 1988, he joined Bankers Trust and became a product manager. He worked there from 1988 to 1990.

He then joined D.E. Shaw & Co, a newly founded hedge fund with a strong emphasis on mathematical modelling in 1990 and worked there until 1994. In 1993 he met his future wife, MacKenzie Scott. She met him while working as his assistant at D.E.

Jeff Bezos became D.E. Shaw’s fourth senior vice-president at the age of 30.

Amazon

Jeff Bezos’s primary source of income was Amazon.com. So in this article, we will focus on that only.

July 1994, Jeff Bezos Established “Cadabra” as an online store. Later he named it Amazon. In 1994, he quit his job and started working in his own office in his garage. His parents helped him with $30,000.

1997, Jeff Bezos took Amazon with an initial public offering for $18 per share. He raised $54 million through this IPO and became a millionaire.

1998, Jeff Bezos expanded Amazon from an e-book store into the sale of music and video. In late 1998, he again expanded Amazon to include a variety of other consumer goods.
1999, his net worth reached $10.1 billion.

2000, Jeff Bezos borrowed $2 billion from banks for the company to cop loss. His wealth was $6.1 billion. At that time.

2002, he launched Web Services, free super shipping, with free shipping for orders above $99.

Long story short, Jeff Bezos’s net worth quadrupled to $8.7 billion in 2007. Raising his wealth by 85.2% in 2010, made his net worth $12.6 billion. $50.3 billion in 2015, $112.0 billion in 2018 into $ 184.4 billion in July 2020.

How to get rich?

So, this is the story of Jeff Bezos, one of the “10 Richest People in the world”. His story inspires others to think differently, make goals, and pursue their dreams with dignity and confidence. For anyone who wants to get rich, the key strategy used by Jeff Bezos is Customer Care. His whole business tactics work around it. So, if you wish to be the next Jeff Bezos, then remember, Customer Care is the spirit of business.

Following are some quotes from Jeff Bezos.

  1. One of the only ways to get out of a tight box is to invent your way out.
  2. We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient.
  3. There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.
  4. If there’s one reason we have done better than our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience, and that really does matter, I think, in any business. It certainly matters online, where word-of-mouth is so very, very powerful.
  5. Amazon is not too big to fail … If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end … We have to try and delay that day for as long as possible.
  6. The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.
  7. We see our customers as guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.
  8. You can do the math 15 different ways, and every time the math tells you that you shouldn’t lower prices because you’re going to make less money. That’s undoubtedly true in the current quarter, in the current year. But it’s probably not true over 10 years when the benefit is going to increase the frequency with which your customers shop with you, the fraction of the purchases they do with you as opposed to other places. Their overall satisfaction is going to go up

Customer Satisfaction:

It is crystal clear from his sayings that the only effective way to grow your business is you have to think about your customer’s needs and comfort. Because the business you are doing is, in fact, a service that you are providing to people who need it. If your service is not comfortable for your customers and not meeting their needs, then sooner or later you will lose your business. Keep in mind that the one who cares the most about his customers is the richest person in the world. The more you act like him, the higher you will fly and the wealthier you will become.

You might be thinking right now that customer service is all about greeting your customer with a smile and providing a low priced better product. But that’s not all. If you want your business to flourish, then you have to improve your services with time. You have to invest your time, skills, and money in bringing about innovations in your services. You have to invent new ways and solutions to provide maximum comfort to your customers. That’s the ultimate key to success in business.