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How to Grow Your Business Like Amazon - Meaningful Differentiation
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In the latest installment of How to Grow Your Business Like Amazon, Steve begins laying the groundwork for a 15th principle to be added to his book. While it's still a work-in-progress, this principle is centered around the idea of "meaningful differentiation" and why it's so vital to your business' success.
Only by differentiating themselves, Amazon was able to grow to one of the largest companies of all-time and develop new product/service avenues within the company.
Listen as Steve walks us through these differentiating ideas Amazon incorporated over the years, as well as the thought processes in place to execute on these ideas.
So sit back, relax, and enjoy yet another great conversation!
Timecodes:
0:05 - Laying the groundwork for a 15th principle
2:00 - The 2006 shareholder letter and its importance
5:16 - Amazon introducing the idea of differentiation
8:00 - Examining new markets/products to reach into
9:20 - Amazon Web Services (AWS) is a perfect example of meaningful differentiation
12:08 - Looking at physical stores that provide a different experience
14:35 - Amazon's willingness to experiment
19:00 - What are you doing right now to meaningfully differentiate your business?
20:45 - Bezos' last letter to shareholders in 2020
23:40 - Customers want to know what you do differently
26:00 - Closing remarks
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