Jeff Bezos, the “Amazon tycoon” of the year of the Rabbit, and 5 lessons must be memorized if you want to succeed

Take risks

(Photo: Amazon)

“When you think about the things you’ll regret when you’re 80, they’re almost all the things you didn’t do. Very rarely do you regret something you did, whether it failed, didn’t work, or didn’t work. anything,” Bezos said in a 2018 interview.

That philosophy helped shape Bezos’ life before he founded Amazon.

At the age of 30, Bezos had a promising job on Wall Street at hedge fund DE Shaw, but he saw promise in the future of the Internet economy and came up with the idea to start an online bookstore. . Bezos’ boss agreed that the idea had potential, but he still tried to convince Bezos that it would be less risky to continue the job he currently has.

“I picture myself at 80 years old, thinking back to my life in a quiet moment: Do I regret leaving this company in the middle of the year and giving up my annual bonus?”, the billionaire said. . And Bezos decided to execute his idea – founded Amazon in a garage in the suburbs of Seattle in the summer of 1994. The website went live a year later on July 16, 1995.

“I don’t think I’ll ever regret trying and failing. And I think I’ll always be haunted if I decide not to try,” Bezos said in 2018. So he chose the poor path. It’s safer to follow your passion and feel proud of it.

“Imagine you’re 80 years old and think about your life and choices you might regret” is also good for personal decisions, according to Bezos.

“I’m not just talking about the business,” he said. It applies to all sorts of things, like you love someone but don’t dare tell them, and then 50 years later, you’re like, “Why didn’t I tell her? Why can’t I be more decisive?” It’s also a regret in life that you won’t be happy when you tell your life story.”

Make the right decisions quickly

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Jeff Bezos believes that the key to sustaining an innovative business is making the right decisions quickly.

In his 2015 Amazon shareholder letter, he wrote about the importance of speed and agility in making Amazon a great company and an inventing machine. Most of the decisions he makes are irreversible, but some are not, he admits.

“Most decisions are changeable, reversible – they are two-way doors,” he wrote. In the case when you make a “non-optimal” decision, you will not suffer the consequences for too long from that decision. You can reopen the door and come back in.” However, those kinds of decisions should be made quickly.

Employees or businesses that spend too much time pondering whether to reverse a decision or not run the risk of being judged as slow, unaware of risks …, according to the former CEO of Amazon.

“All of my best decisions in business and life have been made with passion, intuition, and courage, not analysis,” the billionaire said in an interview at New York Times. Economic Club of Washington in 2018.

Find your passion

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Finding your passion in life is at the heart of the advice Bezos often gives to young employees as well as his four children, the billionaire said at the 2018 Leadership Forum.

In other words, finding a way to build a career out of passion is real success from Bezos’ perspective. And, he believes that everyone has passion.

“You don’t choose your passion, your passion chooses you,” he said at the time. ” We all have certain passions and the lucky one is the one who can pursue those.”

Although Bezos said he followed his passion when he decided to start Amazon, in recent years the world’s richest man has admitted that his life’s true passion is the universe. “When I was 5 years old, which is also the time Neil Armstrong set foot on the Moon, I started to have a passion for space, rockets, rocket engines and space travel,” he said in 2019.

He has spent billions of dollars on his space company, Blue Origin, and one of the first things he will do after stepping down as Amazon CEO is to be a passenger on Blue Origin’s maiden flight on Jan. 7/20 with my brother.

Accept detour

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In his 2018 Amazon shareholder letter, Bezos wrote a section titled “Intuition, curiosity, and the power of detours.” In it, the former CEO of Amazon mentioned the importance of taking time to explore your own curiosity to come up with creative and solutions to any challenge.

According to Bezos, one of the lessons he learned while building Amazon was that success can come through repetition: invent, launch, reinvent, start over… The road to Success is anything but a straight line.”

Don’t lose the difference

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In April, in his last letter to shareholders as CEO of Amazon, Mr. Bezos wrote about the importance of staying unique.

“We all know that being different, or unique, is something very valuable. We are all taught to be ourselves. What I really want you to do is accept and be realistic about how much energy you need to maintain that difference. The world wants you to be normal in a thousand different ways…but don’t let that happen,” according to Jeff Bezos.

The billionaire thinks it ‘s worthwhile to stay different, even though it requires “continuous hard work.”

“In the old days, people used to use the saying ‘All pain stops as soon as you allow your differences to shine’ to advise someone to be themselves. However, that statement is easy to make many people It’s worth being yourself, but don’t expect it to be easy or free.”

Reference: CNBC