Customer centricity as a north star - Deepstash
The Psychology Of The Ultimate Entrepreneur

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The Psychology Of The Ultimate Entrepreneur

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Customer centricity as a north star

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 a competitor offers a better service. Amazon designed its core value proposition around keeping customers happy by constantly offering more selection, better convenience, and lower prices.

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943 reads

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Build a disciplined, patient, and nurturing culture

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...

81

899 reads

It’s all about the long-term…

It’s all about the long-term…

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. 

This manifest...

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1.34K reads

Raise the bar on hiring… again and again

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:

  • Will you admire this person?
  • Will this person raise the average...

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872 reads

Why long-term matters

  • A focus on the long-term is important for several reasons. First, for a company that drives growth through innovation, a long-term approach allows for experimentation and an acceptance of short-term failures.
  • Second, having a long-term orientation reduces the impact of stock price fl...

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1.31K reads

High-quality, high-velocity decision-making

Bezos offers a set of guidelines for how to make decisions at high-velocity:

  • Understand that decisions can be reversed: 
  • Bias towards action: Most decisions should be made with close to 70% of the information needed. Waiting for 90%+ informatio...

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1.11K reads

Put effort into inputs, not financial outputs

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.

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975 reads

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