Unleashing the Flywheel Strategy for Business Growth — Part 2
How to implement a Flywheel strategy in your company and achieve Business Growth.
In the last post I talked about the exponential growth of the multinational technology giant, Amazon. The Flywheel concept illustrates how various aspects of Amazon's business model work together to create a self-sustaining loop of growth and customer satisfaction. So if you missed my previous post, here it is 👇
Now that you understand the key components of the Amazon Flywheel strategy and what type of companies can embrace this approach, let's explore how you can implement it within your own company!
Where does the Flywheel concept comes from?
The flywheel effect is when small victories in a business accumulate over time and generate significant growth. This concept, derived from Jim Collins' book Good to Great1, emphasizes the power of satisfied customers as advocates for the business.
This works by prioritizing customer satisfaction and making the purchase process streamlined and accessible, the business can create a positive feedback loop of new customers and continued growth.
Let’s re…
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