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Jeff Bezos steps down as Amazon CEO with 57 years
Here are 5 business lessons we can all learn from
Here are 5 business lessons we can all learn from
1. Think long term
Amazon was founded in 1994 when the internet was barely a thing
But Bezos had a vision for the company...
When he was asked if he was aware of his revenue growth, he replied:
“I’m thinking a few years out. I’ve already forgotten those numbers.”
Amazon was founded in 1994 when the internet was barely a thing
But Bezos had a vision for the company...
When he was asked if he was aware of his revenue growth, he replied:
“I’m thinking a few years out. I’ve already forgotten those numbers.”
2. Focus on the customer
People want fast shipping, Bezos gave them same-day delivery
People were watching a lot of livestreams, Bezos bought Twitch
People wanted subscription-based streaming services, Bezos created Amazon Prime Video
People want fast shipping, Bezos gave them same-day delivery
People were watching a lot of livestreams, Bezos bought Twitch
People wanted subscription-based streaming services, Bezos created Amazon Prime Video
In his own words...
"The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.”
"The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.”
3. Build based on what's not going to change
Self-explanatory quote from Amazon former CEO
“I very frequently get the question: ‘what’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one.
Self-explanatory quote from Amazon former CEO
“I very frequently get the question: ‘what’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one.
I almost never get the question: ‘what’s not going to change in the next 10 years?’ And I submit to you that that second question is actually the more important of the two – because you can build a business strategy around the things that are stable in time….
In our retail business, we know that customers want low prices and I know that’s going to be true 10 years from now.
They want fast delivery, they want vast selection
They want fast delivery, they want vast selection
It’s impossible to imagine a future 10 years from now where a customer comes up and says, ‘Jeff I love Amazon, I just wish the prices were a little higher”
4. Act, even if you're uncertain
In 1994, Jeff Bezos was faced with the biggest decision of his life: should he quit his “well-paying” job as NYC hedge fund manager to create an online bookstore… or should he stay put?
In 1994, Jeff Bezos was faced with the biggest decision of his life: should he quit his “well-paying” job as NYC hedge fund manager to create an online bookstore… or should he stay put?
He decided to drive across the country and buy the domain rights to Amazon(dot)com.
The rest is history.
In his own words...
“If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunity on the table.”
The rest is history.
In his own words...
“If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunity on the table.”
5. Never stop innovating
From an online bookstore to the biggest online retail shop in the world, Bezos never stopped innovating
“What is dangerous is not to evolve”
He knew that stopping is dying and that the moment he stopped innovating his business would suffer
From an online bookstore to the biggest online retail shop in the world, Bezos never stopped innovating
“What is dangerous is not to evolve”
He knew that stopping is dying and that the moment he stopped innovating his business would suffer
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