"We're trying to build something lasting." - Jeff Bezos, Amazon.com founder "In all of our activities, we take a long-term view." - Bill Gates, Microsoft Corporation founder Vision, innovation, wisdon and hard work are but four of the skills and techniques Jeff Bezos and Bill Gates employed from the very beginning of their business experience. Both started as small business owners. They didn't have much capital to spare, and neither did they locate their businesses in prized locations. They succeeded nevertheless. The author analyzed the factors for their success and presents the lessons learned in the form of business tips. The home based business owner has much to learn from the two titans' wisdom and experience. Lesson 1 from Jeff Bezos Jeff Bezos built the foundation of Amazon.com from the garage of his two-bedroom house rented outside of Seattle. He fashioned his first office tables from wooden doors, angle brackets, and two-by-four lumber purchased from Home Depot. Tip No. 1 Be modest in your initial investment. For example, your laptop or PC shall not necessarily be top of the line. Your office location could be the corner of your living room, kitchen, bedroom, basement or garage. Save on office rent by all means. Be like Jeff Bezos who spent prudently and succeeded. Lesson 2 from Bill Gates Before Bill Gates became an entrepreneur, he had nurtured the vision that software will one day rule the world. During high school he spent many late nights with friend Paul Allen tinkering with the school's computer system. Bill Gates secured mighty IBM's contract to supply the latter's operating system. When he was negotiating with the IBM people, he had no operating system as yet. He was able to buy a Disk Operating System or DOS from another developer for a measly $50 thousand. Of course he got the contract with IBM. Tip No. 2 You can learn from Bill Gates by having your own vision for your small business. Lay down this vision in your mind. Then put it into writing. Read your vision everyday while at work in your small corner of the house. Your vision could be as short-term as the following: "To make my web site land within the top five of Google when people search for the keywords 'home based business'" Lesson 3 from Jeff Bezos When Amazon was struggling to make profits for the first time, only its founder Jeff Bezos believed that the company's business goal could be achieved in a year's time. Jeff Bezos was highly motivated and he had his vision clearly etched in his mind. Everybody was astounded when Jeff Bezos achieved his goal after one year. Tip No. 3 You should motivate yourself to succeed. The lesson that could be learned from Jeff Bezos is to lay down and make known in clear fashion your goal to every stake holder of your small business. They include your spouse and your web designer, among others. Lesson 4 from Bill Gates Bill Gates belatedly recognized the tremendous role of the Internet in business developments. Before 1994 he downplayed the future of the Internet. But upon awakening and realized his mistake, he put his heart and mind to incorporating the effects of the technological changes brought upon by the Internet in all his company's products and services. Tip No. 4 Choose products and services for your small business that are preferred by people at this time when the Internet is dominating people's lives. For example, it has been determined that information products and web shopping are favored by most consumers. Keep stock of research findings. Lesson 5 from Jeff Bezos It is said that change is the one single permanent thing on this planet. Amazon changed the way it does business through the years. First it was an online book seller. Next it expanded into selling music and videos. Its competitors have a hard time catching up with Jeff Bezos' innovative offerings. Tip No. 5 Your home based business should be run like Amazon. You could be selling your single information product now. Two weeks from today you will have added another back-end product. Next month you will have introduced into your product line the inventory of the affiliate program you have joined in. If your web site is content based, you should be adding new content every day. Casual visitors to your web site will become your regular visitors when they see new content every time they come back to your site. And these visitors will in the end become your regular customers. Lesson 6 from Jeff Bezos and Bill Gates Jeff Bezos and his wife were the first workers at Amazon. Their work ethics were marked with hard work and consistency, among others. These traits were handed down to their employees through the years. Bill Gates has all the billions in the world. He is the world's richest man. He goes to work everyday nevertheless and works like there's no tomorrow. Tip No. 6 Emulate the work ethics of the two titans. To succeed and last long in your Internet business, you should work hard to put your business online in the fastest and frugal manner possible. The important thing to consider is to start and put your small business online early and rapidly. If you need some great stuff on Internet marketing and home based business, you can get them for free from my web site at the InternetMarketingLearningCenter.com. Lesson 7 from Jeff Bezos and Bill Gates Amazon was among the first, if not the first, to adopt online book retailing. When the major book sellers - Barnes & Noble and Borders Books, among others - realized this new way of selling books, Amazon was miles ahead. Jeff Bezos surveyed the Internet horizon and embraced the best technology on sight. Bill Gates has been into new technological advances. Microsoft edged out Apple in applying for copyright license of the podcasting gadget. And he find blogging cool. Tip No. 7 Be among the first to embrace technology. Be warned though that new technologies come and go. Some of these technologies enable you to run your business fast and easy. Other technologies rob you of your money. Your duty is to examine each technology and assimilate the best into your own home based business. |
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