• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Delivering happiness
 

Delivering happiness

on

  • 1,206 views

Delivering Happiness is a book written by the CEO of Zapoos.com Mr. Tony Hsieh. This presentation try to deliver some of the key concepts shared in his book.

Delivering Happiness is a book written by the CEO of Zapoos.com Mr. Tony Hsieh. This presentation try to deliver some of the key concepts shared in his book.

Statistics

Views

Total Views
1,206
Views on SlideShare
1,206
Embed Views
0

Actions

Likes
2
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Delivering happiness Delivering happiness Presentation Transcript

    • I AM TONY HSIEH Cofounded Zappos And Link exchange DELIVERING HAPPINESS
    • The Author- Tony Hseih   Born to a typical Asian American parents  Emigrated family from Taiwan to US  A voracious attitude towards entrepreneurship  An attitude to learn from mistakes, being creative and experiment  A versatile-A Polyglot, Mastered 4 musical instruments  Ambitious and Flexible
    • LINK EXCHANGE AND ZAPPOS • Link exchange- A mediator between an online company and the customers • Zappos- An online shoe store, eventually sold to Amazon for $1.2 billion
    • PATH OF THE JOURNEY PROFITS PROFITS AND PASSION PROFITS,PASSION AND PURPOSE DELIVERING HAPPINESS
    • THE JOURNEY STARTS…….
    • The Tiny Businessman  Worm Business  Garage sales  „Gobbler‟ operations  Boys Life magazine  Greeting cards  Button Image business(0.25$ :075$)  Videogame playing  Programming  Crowd sourcing
    • His Journey To The Corporate World “ORACLE”  Tony and Sanjay were software engineers.  They were paid $40k per year.  Gradually they felt the job was quite boring.
    • WEB DESIGN LINK EXCHANGE MICROSOFT ACQUIRED LE
    •  THOUGHT PROCESS PROVOKED: to create web sites for other companies simultaneously  Sanjay was the product and design guy and tony lead the sales  Tony and Sanjay “QUITS ORACLE”
    •  Link exchange is a mediator between a online company and a customer  When a website sign up for free into link exchange which in turn show as a banner add for customer
    • • Tony recruited most of his friends as employees • JERRY YANG cofounder of yahoo proposed to buy at $20 million, but was rejected Michael Moritz from Sequoia capital invested $3 million for 20% stake in the company.
    • • Microsoft and Netscape offered to buy the company. • Tony demanded for $250 million. • Microsoft ended buying the company at $265 million at few string attached.  they wanted Sanjay, Ali and Tony to stay with them for next 12 months else they will cut 20% of the amount. • Deal was signed..
    • “He stopped CHASING MONEY AND STARTED CHASING PASSION”
    •  Tony acquires a loft and creates a community  Simultaneously Alfred and tony starts venture frogs and raises $27 million and starts a restaurant  A voice mail- Nick Swinmurn  commenced shoesite.com
    •  Nick told Footwear is a $40 billion in US making up to $2billion.  Nick renamed shoe site as ZAPPOS a Spanish word called shoes.  ZAPPOS business idea was to form partnerships with 100 of brands and each of the brands provide Zappos with inventory feed in their warehouses.
    •  “Drop Ship” Relation Ship entered in the era of shoe business.  As Zappos was progressing hence tony and Alfred invested in Zappos.  Fred was official employee of Zappos after venture frogs investment.  Tony got boredom with investment  business and discovered “POKER”
    • MEANING • Investing and day- trading INVESTMENTS • Invested in stock markets, movies etc.. END OF DABBLING • He realized investing in industries or companies you don‟t understand and people you don‟t trust is always non benefial
    •  Introducing Zappos to sequoia and Tony & Alfred was surprised to hear that sequoia was not interested to invest.  High flying dot-com stocks started to crash in stock market- shattered tony‟s dream of $100 million funding investment.  End of investment business and entered to entrepreneurship. “ TONY WAS PASSIONATE TO PROVE EVERYONE WRONG”
    •  Tony & Alfred put additional investment into Zappos for their survival.  Cut the costs and maximize the profits of next 9 months and layoff their employees.  They addressed the remaining employees to take their big pay cuts or work for free in exchange for equity in company.
    • • Employees residing in the lofts without charging any rents. • Tony started investing his personal cash into Zappos. • Started selling every property except for the party loft he was living. • Restaurant was not meeting its sales projections.
    • • They believed in “ having right product at the right time in right quantity and sales will take care of them selves” • Changing “Drop ship strategy to have their own inventory of different brands” which triple their sales- Fred.
    • STEPS TO IMPLEMENT “Their Own Inventory”  Build a new team to manage Inventory.  Update software  Need a warehouse to hold inventory.  How to raise $2 million?  Convince many brands to sell to their physical store. Hiring of employees for this physical stores.
    •  Fred was responsible to convince brands  Tony was responsible to bring in cash of $2 million for inventory
    • the strategy of having their own inventory was successful. But gradually it declined since they took the help of E-logistics
    • End Of An Era “Club BIO sold” Got another six months of run way “Even if Zappos failed, we would know we have done everything we could to chase a dream we believed in“
    • KENTUCKY • Ends relationship with eLogistics • Birth of WHISKY Ware House Inventory System in Kentucky Learning from eLogistics relationship “We should never outsource our core competency”
    • 2002 • $32 million gross merchandise sale, 4 times that of 2001 • Set a goal of $1 billion merchandise sales in 2010 • Realization that the biggest vision to be to build the Zappos brand to be about the very best customer service. • Zappos brand and Zappos Library
    • 2003 • Projected the sales figure to double • Handling the difficult time taking everyone in trust • Got a credit of $6 billion from Wells Fargo • Relocated the head quarters to Las Vegas including the Customer Loyalty Team (call center)
    • The Zappos Culture • Zappos Culture Book • Ask anything
    • Branding through Customer Service • Letting the customer do the marketing through word of mouth • 365 day return policy • Displaying the customer care number at the top of every single page
    • Branding through Customer Service Call Center – No AHT – No Scripts – PEC with customer in each call “Pizza, Tony and Zappos call center” Top 10 ways to instil customer service in your company
    • Your culture is your brand “At Zappos, our belief is that if you get the culture right, most of the other stuff—like great customer service, or building a great long-term brand, or passionate employees and customers—will happen naturally on its own.” • Building a brand 50 year back and now is very different – Bald and Blue day – Face game
    • PROFITS, PASSION, AND PURPOSE Delivering Happiness- Tony Hsieh (CEO Zappos .com)
    • PR and Public Speaking  Lots of Press Attention  Culture  Improving Customer Experience  Paying Employees for quitting the organization
    • PR and Public Speaking  Speaking request from different Conferences  Example  Footwear News CEO Summit in 2005  Different People represented conferences  No standard presentations  Opportunity to build Relationships
    • PR and Public Speaking  To Help Audience to pursue Growth and learning  To Build Open and Honest Relationships  To change the world not just by doing things differently at Zappos
    • Zappos Insights Program  Video Subscription service and Zappos insights live  A two day immersion seminar  Both Programs designed to help entrepreneurs and established businesses improve their companies
    • Three basic rules -Public speaking 1. Be passionate 2. Tell personal stories 3. Be real
    • Value Platforms  Brand  Culture  Pipeline
    • Amazon Acquisition – October 31st , 2009 • $1.2 billion worth transaction • Exchange of share for amazon Shares • Run as independent entity – Continue the culture and business • A wholly own subsidiary • Considered as a great marriage than a sales of the company
    • Amazon Acquisition Both Shares common approach “ Customer Centric”
    • END GAME Delivering Happiness- Tony Hsieh (CEO Zappos .com)
    • Delivering Happiness • 1999—Largest Selection of Shoes • 2003—Customer Service • 2005—Culture and Core Values as Our Platform • 2007—Personal Emotional Connection • 2009—Delivering Happiness
    • Happiness Framework 1
    • Happiness Framework 2 Chip Conley ’s book “Peak” Explains How Maslow‟s Hierarchy can be condensed to three levels for business purposes and applied to customers, employees, and investors
    • Customers • Meets expectations Meets desires Meets unrecognized needs Employees • Money Recognition Meaning Investors • Transaction A l i g n m e n t Relationship Alignment Legacy
    • Happiness Framework 3 • Pleasure • Passion • Higher Purpose
    • Happiness Framework 3
    • Ask Right Question to be happy • Are you working toward maximizing your happiness each day ? • What is the net effect of your existence on the total amount of happiness in the world each day ? • What are your values? • What are you passionate about?
    • Ask Right Question to be happy • What in spires you ? • What is your goal in life? • What are your company‟s values? • What is your company ‟ s higher purpose? • What is your higher purpose?
    • OUR LEARNINGS Zappos‟ competitive advantage is mainly due to • customer service • culture for passion and unity Delivering happiness culture Culture book-10 core values of Zappos
    • 1.Deliver WOW Through Service 2Embrace and Drive Change 3. Create Fun and a Little Weirdness 4. Be Adventurous, Creative, and Open-Minded 5. Pursue Growth and Learning 10 CORE VALUES
    • 6. Build Open and Honest Relationships with Communication 7. Build a Positive Team and Family Spirit 8. Do More with Less 9. Be Passionate and Determined 10. Be Humble 10 CORE VALUES
    • Success mantras: • Focus on core competence • Team work • Transparency • Long term views
    • Gowtham Sujana Vivek Agil Vyshnavi Prudhvi Charan Happiness delivered by