As the CEO of Amazon, the best eCommerce platform, Jeff Bezos has had many lessons to share among colleagues. His company has a net worth of almost $1.7 trillion. Through the platform, Jeff Bezos became the first tycoon to jump the 200 billion dollar mark.
Jeff has attended more than fisty interviews where he shared his successful journey. He has been in CE for almost 27 years. Here we compiled some of the best encouragements he shared:
Make decisions fast, but Sure.
After setting up an innovative business, the best thing is to make a perfect decision at a first impression. It might be difficult, but you should not be afraid of the outcomes as a business person. He calls them “high quality, high-velocity decisions.”
Jeff Bezos shared his letter with Amazon shareholders about the significance of speed in innovating a machine. He terms some decisions as reversible but always stares at the opposite.
If you make bad decisions, then you realize, don’t live with it. Instead, go and think about another possible solution that might help you. Spending too much time thinking of making one decision is a waste of time. It might even become complicated when you involve many people there.
Failure to experiment is a killer of innovation. In an interview with the Economic Club, Bezos said most of his decisions were made out of heart intuition and not with any analysis.
Find your call
Bezos said he usually walks towards his young employees with this advice. Finding your passion then going for it is the best way to live. He includes his children as young employees of Amazon.
When you figure out the calling you have, it’s like hitting the jackpot. It’s doing what you love that propels your mind to innovate various things in that field. You must know how to differentiate between a career, a job, and a calling. Of all the three, calling should take 50%.
“You don’t choose your passions, your passions choose you,” Bezos said at the George Bush Center forum.
The tycoon said he followed his passion after launching Amazon. He is the founder of Blue Origin, the space company where he said his passion lies. Jeff Bezos said he admired the fact that Neil Armstrong landed on the moon when he was five years old. He has funded his company billions of dollars. Very soon, he will be flying to space.
Many successful people will regret the things they didn’t do while they were young. However, a small percentage of older adults regret the failures they encountered. That quote has shaped Bezos since he was young. He believes in trial and error as the key to innovation, a report by bloomberg.
It’s through working on Wall Street that he got the idea of investing in the internet economy. He risks his job to go and try out the business. He was not sure if it could help hit the market. IIn the India fireside chat, Bezos said he wouldn’t regret leaving Wall Street in the middle of the year because of annual bonuses.
He went for something that he thought could bring a change to society. So the tycoon started Amazon in the Seattle suburbs in 1994. BY In July 1995, he launched the website, which made the most sales within a few months. He said he has never regretted the decision he made, even for a second.
“I’m not just talking about business things,” Bezos said at India fireside 2020 chat.
2021 marks the end of Jeff Bezos’s era as Amazon CEO. IN April, he wrote a letter to all the shareholders. It was about holding on to your originality.
“We all know that distinctiveness – originality – is valuable,” Bezos wrote.
Every time in school, teachers use to talk about being yourself. But, when you have made it and become successful, it isn’t easy to maintain the distinctiveness. You get driven by the force of wealth. AT some moments, you even forget about the small people who have made you be at the top.
It needs much effort and hard work to maintain your past originality. Being yourself is not as easy as everyone speaks of it.
Wandering is normal and obvious. Embrace it.
Jeff Bezos wrote about curiosity, intuition, and the power of wandering in a letter to shareholders, 2018. He talks about setting up some free time to be curious about other things. To have innovative solutions or to come up with something new requires silence and fresh minds.
Jeff Believes a little inefficiency in everything you engage in is the key to success. Exploring different paths and going array as per the expectation will open up your inner eyes. He talks about employing both wandering and efficiency to make it in life.
Most of the time, when you set up a business, you are unfamiliar with the results. Messing up with customers’ daily norms can be a mistake but worth learning. He said success wouldn’t come through a one-time trial. Instead, you need to build, rebuild, invent-reinvent, and repeat the process.
These are a few lessons Bezos used to share with shareholders and anyone through interviews. He will be stepping down in a few weeks as Amazon CEO to focus on philanthropists. Also, his Company, Blue Origin, also needed him to.