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The importance of perseverance
How to embrace failure as a learning opportunity
The power of innovation and creativity
Bezos offers a set of guidelines for how to make decisions at high-velocity:
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Setting the bar high on hiring has been the single most important element of Amazon’s success. During the interview process, Amazon asks each interviewer to consider three questions before making a hiring decision:
From the outset, Amazon’s goal was to build the world’s most customer-centric company. Bezos would constantly remind employees to wake up every morning terrified… not of the competition, but of Amazon’s own customers.
Customers are fickle; they are loyal to a company until...
In his 1997 shareholder letter, Jeff Bezos issued a manifesto “It’s all about the long-term” where he laid out his approach to business and to running Amazon. He pledged that decisions would be made with a long-term lens and with a focus on market leadership.
While Amazon takes financial outputs seriously, 100% of the company’s time is focused on inputs. This is because these inputs are controllable and are the most effective way to maximize financial outputs.
Many large companies fail to launch new businesses from scratch because of the patience and nurturing required. One of Amazon’s competitive advantages is its culture which is supportive of small businesses with large potential.
While Amazon’s culture demands that these businesses be high po...
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