5 Business Lessons You Can Learn from Jeff Bezos. He is the founder and CEO of Amazon. More of the young entrepreneurs are following either of the Mark Zuckerberg or Elon musk. But there is a big guy who is known as the biggest investor of all times even some people think he is better than warren buffet. Actually he is because Amazon don’t buy much of their shares back.
Jeff Bezos is going to be the first Trillionaire as Amazon made a lot of money in this COVID-19 Pandemic.
Here are the Business Lessons you must learn from him.
1. Be Stubborn and Flexible.
“We are stubborn on vision. We are flexible on details.” Bezos about Amazon.
jeff says that you must be stubborn about your vision as if you are not stubborn you give up very soon. Try to keep on experimenting with new things and always try to be flexible about the solutions. if you stick to one tactic in solving a solution you will not find another way to solve the problem.
The hardest part of being stubborn and Flexible is to figure out when to be which.
2. Stick with Two Pizzas.
Bezos believes in the Two pizzas rule which means your team must not be bigger than the people who can be fed with two pizzas. That refers to a 5-7 person which means the team consists of fewer members is more productive.
The efficiency of the team decreases if there are too many people. let the small number of people make a team and test new things on their own.
3. Never Stop Experimenting.
Experimentation is very necessary to stay in the market. In fact, everyone is experimenting so the can invent new methods to compete with their competitors in the markets. You have seen many food chains launching new flavors and new types of food just to be at the top of the market. You definitely have seen retail store changing positions of the products and switching atmosphere just to let their customers something new. Even in sports every player is trying to figure out new techniques so he can overthrow his/her opponent.
Experiments are every where and they are as necessary for business as anything else.
4. Be Willing to Invent.
if you stop exploring then there is a very limited life ahead of you. Jeff loves those people who really want to explore and invent new ways to the betterment of the service. But this totally goes against the approach by steve Jobs. Apple releases very limited items to the market whereas Amazon has a lot of things to offer. So the point is that in today’s world you must be showing something new to your customers to keep them in touch.
5. Think Long Term.
Always think of long term when you are inventing something or putting something to your business always think what will happen after some years. Never ever go for the short term benefits because they will not take you far. Bezos is always thinking of outcome in the coming years that’s why Amazon is always tackling their competitors and don not let them even near to them in the market space.
Summary 5 Business Lessons You Can Learn from Jeff Bezos:
To summarize this you just need to know that invention and exploring is the biggest key to success. The more you explore the more you invent and it really makes you at the top of the list. Always think big and always think of long term what is going to happen in the upcoming years and how to tackle that. Above all, you must not give up on your dream because maybe you get grinding for four years and the fifth year brings the unexpected.