Bezos started Amazon, which is now the largest online store in the world. He is worth $118 Billion right now.
Long Term Game
Jeff was fiercely committed to the long game. Amazon has never issued a dividend and places little importance on other short-term criteria such as share price and quarterly profitability. Bezos focused constantly on free cash flow and revenue.
Bias Towards Action
The majority of decisions should be made with 70 percent of the information desired. If you wait for 90 percent, you are sluggish. A excellent organisation has the ability to reflect and develop. For Bezos, an effective organisation requires swift, high-quality judgements.
Be Outcome Driven and not Process
There is an undeniable benefit to a degree of standardisation as businesses grow and become more complicated. When the process becomes more essential than the outcome, it becomes an obstruction.
Customer Obsession
There are numerous ways to centre an organisation. You can focus on your competitors, your products, or your technologies.However, according to Bezos, client obsession is by far the finest business strategy.
Hiring Right people
Bezos use the following selection criteria:1. Will you admire this individual? 2. Will this individual increase the group’s effectiveness on average? 3. In what ways could this individual be a rockstar?
2 Pizza Teams
There are less than ten employees in each autonomous group. Small enough that, while working late, two pizza slices could fuel the team members. These teams independently solved Amazon’s greatest problem.
Writing MemoS
A team member must write a memo to provide a solution. Bezos sometimes wanted this writing resemble an Amazon product launch press short. Long-form writing helps people focus, according to Bezos.