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Entrepreneurship

When Jeff Bezos Gave Importance To The Customers Rather Than The Competitors

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Entrepreneurship

Somanjana Chowdhury

14 Apr,2016

He faced a lot of criticism in his entrepreneurial career but never thought of stopping. The famous American technology entrepreneur and investor Jeff Bezos, who is well-known as the founder and CEO of Amazon.com, an online merchant of books and later of a wide variety of products and services, most recently video streaming, is a strong believer of solving problems by facing them and moving forward.

1. Bezos was born Jeffrey Preston Jorgensen in Albuquerque, New Mexico to Jacklyn and Ted Jorgensen

2. After graduating from Princeton in 1986, Bezos worked on Wall Street in the computer science field

3.

He worked on building a network for international trade for a company known as ‘Fitel’. He next worked at Bankers Trust. Later on he also worked on Internet-enabled business opportunities at D. E. Shaw & Co.

4.

Bezos founded Amazon.com in 1994 after making a cross-country drive from New York to Seattle, writing up the Amazon business plan on the way

5. He initially set up the company in his garage

6. He had left his well-paying job at a New York City hedge fund after learning about the rapid growth in Internet use, which coincided with a then-new U.S. Supreme Court ruling holding that mail order catalogs were not required to collect sales taxes in states where they lack a physical presence

7. 

Bezos is known for his attention to business details. As described by Portfolio.com, he is at once a happy-go-lucky mogul and a notorious micromanager. "An executive who wants to know about everything from contract minutiae to how he is quoted in all Amazon press releases."

8.

In 2000, Bezos founded Blue Origin, a human spaceflight startup company, partially as a result of his fascination with space travel, including an early interest in developing "space hotels, amusement parks, colonies and small cities for 2 million or 3 million people orbiting the Earth."

9. 

On August 5, 2013, Bezos announced his purchase of The Washington Post for $250 million in cash

10.

In 2012, Bezos was named Businessperson of The Year by Fortune

11. As of January 1, 2016, according to Forbes, Bezos is listed as the 4th wealthiest person in the world with an estimated net worth of $59.2 billion

12.

He was ranked the second best CEO in the world by Harvard Business Review, after Steve Jobs of Apple

We see our customers as invited 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. If you're competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering.” – Jeff Bezos

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Somanjana Chowdhury

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