Jan
19

Tony Hsieh, CEO of Zappos.com – Lessons From a Billion Dollar Entrepreneur

If you want to see what the future of business looks like, Tony Hsieh reveals how today’s greatest companies are truly combining passion with profits, and adding the 3rd key element — purpose.

As CEO of Zappos.com, Tony has led the company to $1 Billion dollars in annual sales, and placing it on the top lists of the most progressive and successful employers in the world.  In November 2009, Amazon purchased Zappos.com for approximately $928 Million dollars — but intends to leave the company operating as it is, because they’ve found such a powerful and successful formula.

And this isn’t Tony’s first success.  In 1996 (when he was 23 years old), he co-founded a company called LinkExchange that he sold to Microsoft 2 years later for $265 Million.  That led him to create a venture capital firm, which ultimately led him to meet the original founder of Zappos.com, and take an interest in the unusual business model of selling shoes via the internet.  That original concept became today’s online retailer juggernaut, Zappos.com.

Every entrepreneur should see this video, because it reveals how to create a GREAT company, regardless of its size, by focusing on what really matters.

Among other things, Tony reveals:

  • His definition of brand, and why focusing on brand is the wrong approach
  • His #1 priority at Zappos.com (and it ISN”T customer service)
  • The reason why most business struggle to succeed (they’re focus on the wrong things)
  • How you can instill a powerful culture into your business, regardless of its size
  • The secret to their hiring process that brings them massive loyalty in their employees

Tony is a great example of the next-generation entrepreneur, and that there is a powerful future ahead for small business owners who dare to dream big, and remain focused on what matters to them.

Watch the video and then POST A COMMENT below – what do you think is the most valuable part of Tony’s insight?

Do you disagree with him?

What do you think makes a GREAT company?

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  1. January 19th, 2010 at 10:50 | #1

    I agreed 100% with what Tony said! I wish all CEO’s would get on board with the way he thinks! I love how he talked about company culture being his top priority, and about wanting to be about something more important than selling shoes.

    I think having a higher purpose than profits makes a company great, but you have to be committed to that purpose — like Tony said, it can’t just be a plaque on the wall. I also loved what he said about chasing the vision, not the money. And making the whole company part of that vision.

    As a side note, I have had personal experience with Zappos’ Customer Service, and they are incredible! I keep going back to them because of my previous experiences!!

    Great job! I can’t wait to see the rest of the videos!

  2. January 19th, 2010 at 11:27 | #2

    The valuable part of Tony’s insight was: establishing core company values and being committed to them.

  3. Arne Thomassen
    January 19th, 2010 at 11:36 | #3

    Tony Hsieh’s talk was excellent, the companies of the future really need to grasp the idea of caring for their employees and customers. Corporate America has completely destroyed employee and customer loyalty with their attitude of greed and only caring about the sale. Tony has nailed it on the head of looking after the employees and the corp culture which will continue on to the customer and then to the bottom line of profits. I work for a municipal government that has the big long mission statement that amounts to nothing, because management does not come close to following that statement themselves and have shown that they don’t care for the employees. How happy do you think the taxpayers are with the service, not very. Engage the employees in a real way also can go a long way to building a positive culture.

  4. Phil Gilkes
    January 19th, 2010 at 11:41 | #4

    A fabulous affirmation to me that I have started my company on. I first heard Tony’s philosophy by way of Jack Canfield, but I had forgotten it until hearing Tony… Follow your heart and the money will come. Tony reminded me that it’s the value and or the problems we solve to the betterment of others that is the most important. The culture is the foundation that attracts the best people to the company and customers and clients to want to be apart of it benefiting in the products or services.

    Thank you Tony and Thank you Greg.

  5. January 19th, 2010 at 12:23 | #5

    Amazing – This guy really knows what he’s talking about. Truly inspirational

  6. January 19th, 2010 at 13:16 | #6

    When I walked through Zappos last week I was truly blown away. This must be one of the most unconventional work environments I have EVER seen. It goes way beyond the Dot Com era of culture. Tony has taken all of the rules and thrown them out the door to create one great company.

    One of my big take-a-ways was Tony’s humble nature. No ego. Just a brilliant mind that thinks on a level that most of us can’t fathom let alone understand.

    Thanks to Zappos for the tour and Tony for creating what will go down as one of the great case studies of our time.

  7. Maria C Rodriguez
    January 19th, 2010 at 16:54 | #7

    Hello Greg,

    I agree with him. Like he says”good customer services is the key.”

    Best Regards,
    Maria

  8. January 19th, 2010 at 22:18 | #8

    It’s a breath of fresh air hearing Tony’s perspective not just on business but his understanding of what matters in life. Asking why is a wonderful way to distill a deeper truth.

    One bit of technical feedback, I have an older computer but listen to videos all the time. This one was particularly annoying because of the loading time and interruptions throughout the video to load more. It may be my computer’s fault, so please take this as constructive feedback and not a complaint.

  9. chris
    January 20th, 2010 at 12:11 | #9

    Sadly in englandthe core elements of business have been lost,
    Even a good morning from a shop assistant is never seen ,being polite 2 your customers begins on the shop floor
    which is basicaly none existant in most stores,
    The japanese used to have a job for life
    staying with there companys for life
    insurances and were all taken care of by the firms
    respect for the family values along with headaches taken away from the workers as in healthcare/sickness holidays along with recognising the individuals effort within the company giving bonusus for a truly appreciative year works wonders for all companys
    A misserable employer /sadistic and heartless ,only thinking of proffit before everything else ,then yes you will fail over a period of time

  10. Kim Schaefer
    January 20th, 2010 at 16:19 | #10

    Thank you so much Tony for sharing your Vision!! The difference between your company and most others, is that you’ve cast your Vision in such a way that your Team (employees) grabbed on as well. One person’s Vision vs. casting a Vision. And the ripple effect goes out to your customers and your vendors and now to all who hear you speak about it. Your Vision will touch the World. I am grateful to have had the chance to listen to this short snippet. With Warmest Aloha, Kim Schaefer (Hawaii)

    PS. For anyone experiencing interruptions on the Video. Listen on Google Chrome rather than Internet Explorer. I was having same issue. The problem is Internet Explorer, not the video itself.

  11. January 21st, 2010 at 01:01 | #11

    He puts the “we” [community] in front of the “me”[self centeredness] & that’s exciting!

  12. January 21st, 2010 at 01:04 | #12

    You have put the”we” [community[ in front of the "me" [self-centeredness] & that’s exciting! Thank you for your generous spirit!

  13. nigel
    January 21st, 2010 at 01:34 | #13

    i have been employed by several companies that are run by accountants,and have found they all love money and use people.They seemed to have got it the wrong way round,they call it business.Its great to hear tony puts other things first other than money,although it is important.

  14. Susan
    January 21st, 2010 at 03:56 | #14

    Thank you Tony
    I agree with your vision of delivering happiness to the world. It is inspring you hear how you have communicated this to your people.
    Susan

  15. Peter :)
    January 21st, 2010 at 06:02 | #15

    Tony! Thank You! ….. Standing Ovation!

  16. Peter :)
    January 21st, 2010 at 06:08 | #16

    @Jacqueline Campbell
    I agree!!! And the cool part is that Tony has established his own personal core values and is committed to them! A really good example of “work on yourself and the world comes to You!” :)

  17. January 21st, 2010 at 17:19 | #17

    I really enjoyed listening Tony’s speech. What touched me is that Tony talks what he walks. So he has implemented what he is talking and that’s really worth listening and inspiring.

  18. Diana
    January 21st, 2010 at 17:27 | #18

    Thank you Tony! So inspirational! Can anyone point me to a good customer service company in the UK (london)?

  19. January 22nd, 2010 at 06:03 | #19

    Hi Tony,

    I have some knolwledge about customer service, but in the way you explained it and put it together it gave me a better vision. Core values, company’s culture, pleasure, pasion and purpose=happiness. Great teaching.

    I would like to learn more from you. Thank you for sharing and I enjoyed listening to you.

    Thanks a lot,

    Marlene

  20. January 23rd, 2010 at 17:22 | #20

    This is exactly how I do business and love the way Tony articulated it. Love this presentation and can’t wait to hear more.

  21. zarina godrej
    January 24th, 2010 at 02:40 | #21

    lWe need more companys to follow Tonys way at Zappos… it really is about happiness not really the money… the world would certainly be brighter if we communicated better and reached for happiness.
    I work as a hypnotherapist and today the majority of my clients come from the corporate world where people seem to have totally forgotten about the personal touch and happiness.. loved the video… thanks

  22. January 24th, 2010 at 11:48 | #22

    I love the idea of focusing on the vision and not the money. I agree that the money will follow if you are in line with your own purpose and vision. Thank you for this inspirational talk! I will remember it and apply it to my own business.

  1. February 3rd, 2010 at 01:07 | #1

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