The Rakuten Playbook - Sales Strategies to Boost Your Business Revenue | CEO Sales Huddle with Che Brown

Imagine starting a new business in a market dominated by giants. That’s exactly what Hiroshi Mikitani faced when he founded Rakuten in 1997. At that time, Amazon was already a major player in the e-commerce world. How could a new company like Rakuten possibly compete? Mikitani was inspired to start his own business after a personal tragedy—the 1995 earthquake in Japan, which took the lives of his friends and family. This life-altering event made him rethink his career in banking and pursue something he was passionate about. But entering a market with such fierce competition was daunting. Did you know that when Rakuten launched, it had only 13 online stores, mostly run by Mikitani’s friends? Competing against Amazon with just a handful of stores seemed almost impossible. Mikitani knew he needed a different strategy to stand out. He focused on making Rakuten attractive to sellers by offering lower commission fees compared to American competitors. This move made Rakuten appealing to smaller businesses that couldn’t afford high fees. By 1998, Rakuten had over 350 stores, and just a year later, it had grown to 1,500 stores. Mikitani and his team worked tirelessly to attract new sellers, meeting them face-to-face and even dressing casually to make small shop owners feel comfortable. This strategy is a great example for CEOs looking to grow their business. It’s all about understanding what your customers (or in this case, sellers) need and providing value that your competitors don’t. By helping sellers succeed, Rakuten ensured its own growth. My Big Takeaway - The big lesson here is the importance of having a strong sales strategy. Mikitani didn’t just build a platform; he built a community where sellers could thrive. He provided training courses and consulting to help sellers succeed, which in turn boosted Rakuten’s revenue. This approach shows how crucial it is to support your sales team and customers with the right tools and strategies. Stay Hungry. Stay Humble. Che Brown www.CEOSalesHuddle.com Connect with me: @IamCheBrown #CEOSalesHuddle #CEOSalesDashboard #CEOMasteryNetwork