Here are Zappos’ Ten Lessons in building a successful business on the Internet
1. The e-commerce business is built on repeat customers.
2. Word of mouth really works online.
3. Don’t compete on price.
4. Make sure your website inventory is 100% accurate.
5. Centrally locate your distribution.
6. Customer service is an investment and not an expense.
7. Start small. Stay focused.
8. Don’t be secretive. Don’t worry about your competitors.
9. You need to actively manage your company culture.
10. Be wary of so-called experts.
Zappos.com was established in 1999 and is a leader in online apparel and footwear sales. It stocks millions of products from over 1000 clothing and shoe brands. Zappos.com was recognized in 2009 by FORTUNE MAGAZINE as one of the “100 BEST COMPANIES TO WORK FOR”, debuting as the highest-ranking nowcomer to FORTUNE’S 2009 list.
Zappos.com was recently acquired for over $1 billion by Jeff Bezos who happens to be the owner of Amazon.com