One person with a great idea can totally transform entire industries with enough success, luck, and persistence. Often considered the holy grail of business success, growth can make even the most difficult of goals perfectly attainable in due time. However, growth in and of itself is not a means to an end. In fact, growth can be a negative influence for some businesses and entrepreneurs when handled improperly. Recently, GK Global Inc. owner Bernard Decena outlined the proper strategies for growing new and/or small enterprises, with Amazon used as a prime example of how to handle the disruptions.
Building a multinational brand that serves countless millions doesn’t happen overnight, Bernard Decena reiterated to those on a recent conference call. “Amazon, in particular, has had a very odd pathway to success over the years, completely transforming both in what it does and how it operates”, he said. Arguably one of the first major brands of the internet era, Amazon was able to find various niches and fill them before becoming a household name that supplies people with virtually everything they need.
GK Global Inc. recognizes the immense value that Amazon now commands, with a market share exceeding $1 trillion US Dollars. The first point that Bernard Decena outlined in terms of what entrepreneurs can learn from Amazon is to be flexible. “Amazon started as an online bookstore, but virtually nobody uses Amazon solely for book shopping today”, he explained. As the years progressed, Amazon branched out into new and different industries, ultimately becoming the online Wal-Mart of shopping. In order to accomplish this, however, Bernard Decena noted that Amazon had to take many risks.
One such risk was that the company decided to operate at a loss in various departments when expanding its enterprise. For example, expansion into selling products often cost Amazon more than it earned, which ultimately wore down the competition – who couldn’t compete at such prices – inevitably giving Amazon relatively uncontested control of key market sectors. GK Global Inc. has advised its clients of tactics such as these and the success they can provide but they understand not every business can afford to sustain such losses for long periods of time.
The success story of Amazon is one for the history books, and entrepreneurs can learn from its actions by applying them to their own strategies. GK Global Inc. will continue to assist clients in mastering the proper strategies for success and utilizing its vast knowledge of marketing and business to enhance performance.