Amazon’s mantra is maintaining an agile, Day 1 start-up mentality, rooted in customer obsession. Day 2 mentality is “stasis followed by irrelevance” according to Jeff Bezos.
Amazon’s Day 1 philosophy is a corporate culture and operating model that emphasizes long-term thinking, customer obsession and bold innovation.
Our valuation industry needs this trifecta of ideas to stay relevant.
The philosophy is based on the idea that companies should always strive to be like they were on their first day in business, when they were full of energy, excitement and a willingness to take risks.
Just like Amazon, banks must be obsessed with their customers. As a Chief Appraiser, it’s your job to ensure that the bank is accurately valuing properties and making smart lending decisions while balancing the needs and goals of customers.
This means staying up-to-date on market trends, maintaining a strong relationship with loan officers, and providing excellent customer service with an appraisal management platform like YouConnect that works the way you do. Successful software begins with obsessive Customer Success folks that provide the “deep-dive” details your appraisal department wants and needs.
“Many of our chief appraiser clients have said choosing YouConnect was the best decision of their career.”
For fee appraisers, be cognizant of servicing your bank clients to provide the best collateral protection through sound valuation. Invest in technology and process to best serve your customers. Buy back your time with a comp database and report writing like DataComp Suite to be able to spend it on the valuation, not just word processing.
Bank and fee appraisers can benefit from Amazon’s Day 1 philosophy:
- Customer obsession: Always focused on the customer. Constantly collect feedback from customers and use it to improve your products and services.
- Long-term thinking: Don’t focus on short-term profits. Be willing to invest in the future, even if it means taking some risks.
- Bold innovation: Look for new ways to innovate, not afraid to experiment and try new things.
- A culture of risk-taking: Encourages employees to take risks and believes that failure is a part of the learning process.
- A culture of curiosity: Encourage employees to be curious and ask questions. The company believes that innovation comes from asking the right questions.
Deliver more for our valuation industry with long-term thinking, customer obsession and bold innovation.
Work like it’s your first day.