Few people know more about business than Jeff Bezos. As the founder of Amazon and the world’s richest man, he has a lot of wisdom to share.
If you want to be successful in business, you should take a page from Jeff Bezos’ playbook. The world’s richest man has done things his own way, and that’s why he’s at the top.
Here are some of the tips on how to be like Jeff Bezos by implementing some of his business tips.
Don’t Hesitate to Take Risks
Jeff Bezos has always been a risk-taker, even from a young age. When he was just out of college, he started working on Wall Street, but he quickly realized that it wasn’t for him. So, he quit his job and started his own company, Amazon.com. It was a risky move, but it paid off big time.
Bezos said some very stunning lines in a 2018 interview, including
“When you think about the things that you will regret when you’re 80, they’re almost always the things that you did not do. They’re acts of omission. Very rarely are you going to regret something that you did that failed and didn’t work or whatever,”
Today, Amazon is one of the most successful businesses in the world, and Bezos is worth over $180 billion. But he didn’t get there by playing it safe. He took risks every step of the way, and it paid off.
Thus, don’t be afraid to take risks, though you’re afraid of.
Make Good Decisions Quickly
Jeff Bezos is known for being a very decisive person. He doesn’t hesitate to make decisions, even if they’re big ones.
In an interview with Business Insider, Bezos said, “I believe that if you’re good at decision-making, it actually becomes easier over time. I think it’s the opposite of what most people experience. They get more risk-averse as they age.”
Bezos has made some very big decisions in his career, and they’ve all paid off. He’s not afraid to make a decision and then stick with it.
In his 2015 letter to Amazon shareholders, Bezos stressed the importance of speed and “nimbleness” in allowing Amazon to become a large company that’s also an invention of the machine. While he recognizes that some actions are “unchangeable or nearly unchangeable,” most aren’t.
Further, Bezos says:
“Most decisions … are changeable, reversible – they’re two-way doors. In those cases, when you make a decision that is suboptimal, you don’t have to live with the consequences for that long. You can reopen the door and go back through.”
If you want to be successful like Bezos, you need to learn to make good decisions quickly. Don’t hesitate or second-guess yourself. Just make a decision and go with it.
Find Your Mission In Life
Your mission in life is what you are meant to do. It is your purpose. It is the reason you are here on earth. Everyone has a mission in life. Some people know what their mission is and some people do not.
“You can have a job, or you can have a career, or you can have a calling. And if you can somehow figure out how to have a calling, you have hit the jackpot, because that’s the big deal.”
There are many ways to find your mission in life. You can pray or meditate and ask God or your higher power to reveal your mission to you.
You can read books or listen to tapes that will help you to uncover your hidden talents and gifts. Sometimes your mission in life will be revealed to you through a difficult situation that you are going through.
In other words, for Bezos, achieving genuine happiness is finding a method to make a living out of one’s passion. And he thinks that everyone possesses one.
Don’t Think in Advance
“The most important thing is to focus on things that really interest you,” Bezos told Business Insider. “Don’t just think about what degree you should get. Let your curiosity be your guide.”
Jeff Bezos advises young people not to limit themselves by planning every step of their lives in advance. He believes this approach actually makes it harder to achieve goals since it’s impossible to predict all of the variables that will shape one’s future.
“If you’re not flexible, you’ll miss a lot of opportunities,” he said. “I think linear thinking is a somewhat dehumanizing way to view the world.”
Bezos’ approach to life can be seen in his company’s philosophy of “working backward from the customer.”
He believes that businesses should start by trying to understand what people need and then figure out how to provide it, rather than coming up with a product or service and then trying to find customers for it.
Ignore The Competition
Jeff Bezos has always been laser-focused on Amazon, and he doesn’t let the competition distract him.
In an interview with Business Insider, Bezos said:
“If you’re competitor focused, you have to wait until there is somebody in the marketplace doing something. Being customer-focused allows you to be more pioneering.”
Bezos’ approach has always been to focus on Amazon’s customers and not worry about what the competition is doing.
He once said:
“I very rarely think about our competitors. We just try to do things that we think are right for our customers.”
In truth, you should always put the customer first. This is how you stay innovative and win. “Even when they don’t realize it, consumers want something better,” Bezos continued. “Customers will push you to invent on their behalf if you want to delight them. That’s really the only way to get there.”
This customer-centric philosophy has served Amazon well, and it’s a big reason why the company has been so successful.
If you want to be like Jeff Bezos and create a multi-billion dollar company, start by taking risks, making quick decisions, and finding your life’s mission.
Ignore the competition and focus on what you can control. Do all of this with passion and determination, and you’ll be well on your way to success. How will you apply these business tips from the richest man in the world?
So, there you have it. These are some of the key things that you need to know about Jeff Bezos and his success.
Take these lessons to heart and apply them in your own life, and you may just find yourself on the path to success.
Next Read: How to Develop Leadership Skills in Employees: Top 9 Strategies