USA Today, on Sunday, August 8th, had an interesting article on AMAZON. In the mid-1990’s, Jeff Bezos, founder of Amazon, had a vision of creating the biggest store on earth. He made his vision a reality and by doing so, left hundreds of independent small business owners in his wake.
I want to give credit to Bezos for taking advantage of the opportunities that allowed him to create Amazon.
Many small, and some large business retailers, feel Amazon is their greatest competition. They are overwhelmed by its size and its ability to undersell the conventional retail store. Many shoppers go into a retail store, find what they want and order it on AMAZON at a lower price — and have next day delivery. How many of you have witnessed this buying behavior in your own shop?
I don’t believe AMAZON is finished yet. I think they will continue to offer new and different products and services that are currently under the control of other businesses.
Don’t close your doors just yet. I believe, and so does the article, small business owners can thrive even when competing with AMAZON. Small business has a secret, the human touch. I foresee a change in the consumer mentality: your personal and business story along with the experience that a small business can offer will develop and grow loyal fans. It’s going to be a slow process as this “newness” of change in the last 25 years along with the concept of instant gratification, is just now showing the very slight beginning of a return to human values.
In the meantime, work smart and develop a process to find, keep, and thank your loyal customers.
Contact the Business Mentor Team for help creating your 2017 plan for success!
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