The Possibility To Truly Transform
August 6, 2013
The big media news of the week if that Jeff Bezos is buying The Washington Post for $250 million and as this great article by Michael Moritz proclaims: Stop the Presses: A New Press Lord Appears: http://www.linkedin.com/today/post/article/20130805231302-25760-stop-the-presses-a-new-press-lord-appears?trk=tod-home-art-large_0
When I read the article, it honestly made me very excited for the Washington Post, and the publishing category as a whole.
It's no question that newspapers have struggled with circulation and revenue over many years now. As the oldest media, it has been hit hard by the paradigm shift happening all around us and most publishers have struggled to find a successful business model to monetize the content in a way that matched the glory years of the medium.
Enter Jeff Bezos ... and I believe this has the possibility of finally, and truly, transforming the industry. And not just newspapers, but any "old media" who are only focused on a "what needs to be" strategy where everything but the absolute best customer experience has been placed as the top priority.
As the article shares, Jeff understands, and has built as empire around a simple, but profound mission that has guided him throughout his business and his life. It is articulated so well in this paragraph, "It won't come as a surprise that Bezos explains that pleasing, if not thrilling, customers is Amazon's most important task. In his 2009 letter he provided a peek into the internals of Amazon explaining that of the company's 452 detailed goals for the ensuing year, 360 had an impact on the customer; the word 'revenue' was used just eight times, 'free cash flow' only four times and 'net income', 'gross profit', 'margin' and operating profit were not mentioned."
The alignment of Amazon around a powerful mission, "Where customers can come to find and discover anything and everything they might want to buy online" has provided the discipline, but more importantly, the flexibility to ignite passion and fulfill a purpose for customers that has tremendous depth like no other.
The focus to build the best experience that offers true meaning and not simply a moment to manipulate someone into a transaction has earned more revenue and rewards than I'm sure Jeff ever imagined when first starting the company ... but then again, by uncovering this powerful wisdom, it should be no surprise to anyone of why Jeff continues to be successful.
Passion is the fire that lights your way. Purpose is the reason you journey. The connection will take you down roads never traveled before.
It's a transforming kind of approach and one that makes media all very exciting again.