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The Growing Power of Online Retailers

7th January 2019

“Put your best people on your Amazon business, work with Amazon and challenge them, Amazon are 100% peculiar, they are here to stay and they will continue to grow” 

Ex Head of Vendor Management, Sports at Amazon

This is only one of the many great insights we gained from our hosted Q&A with Greg Cowan, Ex-Head of Vendor Management Sports, at Amazon and Martin Nichols, Sales Director Universal Pictures.   Martin shared his insight into how Universal work with their biggest global and strategic customer and Greg shared The Amazon Fly Wheel Model as well as Amazon’s Leadership Principles:

Customer Obsession: Leaders start with the customer and work backwards. They work vigorously to earn and keep customer trust. Although leaders pay attention to competitors, they obsess over customers.

Ownership: Leaders are owners. They think long term and don’t sacrifice long-term value for short-term results. They act on behalf of the entire company, beyond just their own team. They never say “that’s not my job.”

Invent and Simplify: Leaders expect and require innovation and invention from their teams and always find ways to simplify. They are externally aware, look for new ideas from everywhere, and are not limited by “not invented here.”

Are Right, A Lot: Leaders are right a lot. They have strong business judgment and good instincts. They seek diverse perspectives and work to disconfirm their beliefs.

Hire and Develop the Best: Leaders raise the performance bar with every hire and promotion. They recognize exceptional talent and willingly move them throughout the organization.

Insist on the Highest Standards: Leaders have relentlessly high standards — many people may think these standards are unreasonably high. Leaders are continually raising the bar and driving their teams to deliver high quality products, services, and processes.

Think Big: Thinking small is a self-fulfilling prophecy. Leaders create and communicate a bold direction that inspires results. They think differently and look around corners for ways to serve customers.

Bias for Action: Speed matters in business. Many decisions and actions are reversible and do not need extensive study. We value calculated risk taking.

Frugality: Accomplish more with less. Constraints breed resourcefulness, self-sufficiency and invention.

Learn and Be Curious: Leaders are never done learning and always seek to improve themselves.

Earn Trust: Leaders listen attentively, speak candidly, and treat others respectfully. They are vocally self-critical, even when doing so is awkward or embarrassing.

Dive Deep: Leaders operate at all levels, stay connected to the details, audit frequently, and are skeptical when metrics and anecdote differ. No task is beneath them.

Have Backbone; Disagree and Commit: Leaders are obligated to respectfully challenge decisions when they disagree, even when doing so is uncomfortable or exhausting. Once a decision is determined, they commit wholly.

Deliver Results: Leaders focus on the key inputs for their business and deliver them with the right quality and in a timely fashion.

You can watch the full video of the evening here or if you’d like to discuss your specific challenges then do get in touch.

 

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