Failures have made Amazon stronger

It is believed that failures have made Amazon stronger. Amazon is a popular and well reputed company in the world. Recently, Amazon has been planning an expansion into more and more product categories which has been a fail move so far when compared with the expectations of either the consumers, marketers, or the company. Moreover, the boss of the company also believes that he has made billions of dollars of failures at Amazon. Amazon CEO admits that failures have cost the company dear but experimentation like the Fire Phone is the key to survival.

According to Jeff Bezos, he says “I’ve made billions of dollars of failures at AMZN Literally. None of those things are fun, but they also don’t matter. What really matters is that companies that don’t continue to experiment – companies that don’t embrace failure – they eventually get into a desperate position, where the only thing they can do is make a ‘Hail Mary’ bet at thevery end of their corporate existence. I don’t believe in bet-the-company bets.”

He believes that such failures have made the company stronger and shaped it better. According to him, embracing failures was an important part of surviving and thriving as a modern business. The company said that it has no regrets over the past failures. When you are going to take bold steps and experiment new things in order to bring innovations, no one is sure about the future the product might have. And if they are experiments you do not know ahead of time if they are going to work. Experiments are by their very nature prone to failure. But a few big successes compensate for dozens and dozens of things that did not work.

If you talk about failures by Amazon, Fire Phone is one of them as the company had to write off about $170 million worth of unsold Fire Phones.