How to Grow Your Business Like Amazon - The Build Cycle
In the next installment of How to Grow Your Business Like Amazon, Steve provides a deep dive into one of the four cycles - The Build Cycle!
Amazon didn't become the global giant we know overnight. It took methodical building practices and strategies incorporated over time. As Steve explains, there are three core principles at the heart of the Build Cycle: Obsess over customers, Apply long-term thinking, and Understand your flywheel. Each of these principles played a pivotal role in the company's growth over the last decade.
So sit back, relax, and enjoy another insightful conversation surrounding the growth of Amazon, specifically highlighting these three principles.
00:10 - Overview on prior episodes and growth cycles
01:00 - The Build Cycle as a whole
02:30 - Principle 4: Obsess over customers
06:20 - Amazon's three customer pillars
08:30 - The importance of noticing when a customer has a bad experience
11:20 - Principle 5: Apply long-term thinking
16:32 - Bezos' ranch in West-Texas and building the 10,000 year clock
17:52 - Principle 6: Understand your flywheel
21:00 - Growth was at the center of Amazon's flywheel
23:58 - What is the flywheel of your business?
25:30 - Closing remarks
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