Jitendra Vaswani

Top 40 Jeff Bezos Quotes 2022 : How To Become Billionaire

Jeff Bezos Quotes 2022

1. “We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient.”

2. “If you’re competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering.”

3. “You can have the best technology, you can have the best business model, but if the storytelling isn’t amazing, it won’t matter. Nobody will watch.”

4. “Your margin is my opportunity.”

5. “I strongly believe that missionaries make better products. They care more. For a missionary, it’s not just about the business. There has to be a business, and the business has to make sense, but that’s not why you do it. You do it because you have something meaningful that motivates you.”

6. “All businesses need to be young forever. If your customer base ages with you, you’re Woolworth’s.”

7. “In the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts.”

8. “There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.”

9. “We are stubborn on vision. We are flexible on details.”

10. “If you only do things where you know the answer in advance, your company goes away.”

11. “We’ve done price elasticity studies, and the answer is always that we should raise prices. We don’t do that, because we believe — and we have to take this as an article of faith — that by keeping our prices very, very low, we earn trust with customers over time, and that that actually does maximize free cash flow over the long term.”

12. “If you’re long-term oriented, customer interests and shareholder interests are aligned.”

13. “A company shouldn’t get addicted to being shiny, because shiny doesn’t last.”

14. “All of my best decisions in business and in life have been made with heart, intuition, guts… not analysis.”

15. “Sometimes we measure things and see that in the short term they actually hurt sales, and we do it anyway.”

16. “We are comfortable planting seeds and waiting for them to grow into trees.”

17. “There are two ways to extend a business. Take inventory of what you are good at and extend out from your skills. Or determine what your customers need and work backwards, even if it requires learning new skills.”

18. “Friends congratulate me after a quarterly-earnings announcement and say, ‘Good job, great quarter.'” “And I’ll say, ‘Thank you, but that quarter was baked three years ago.'”

19. “‘Jeff, what does Day 2 look like?’” “Day 2 is stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death. And that is why it is always Day 1.” “To be sure, this kind of decline would happen in extreme slow motion. An established company might harvest Day 2 for decades, but the final result would still come.”

20. “Day 2 companies make high-quality decisions, but they make high-quality decisions slowly. To keep the energy and dynamism of Day 1, you have to somehow make high-quality, high-velocity decisions.”

21. “We recently greenlit a particular Amazon Studios original. I told the team my view: debatable whether it would be interesting enough, complicated to produce, the business terms aren’t that good, and we have lots of other opportunities. They had a completely different opinion and wanted to go ahead. I wrote back right away with “I disagree and commit and hope it becomes the most watched thing we’ve ever made.” Consider how much slower this decision cycle would have been if the team had actually had to convince me rather than simply get my commitment.”

22. “We innovate by starting with the customer and working backwards. That becomes the touchstone for how we invent.”

23. “When [competitors are] in the shower in the morning, they’re thinking about how they’re going to get ahead of one of their top competitors. Here in the shower, we’re thinking about how we are going to invent something on behalf of a customer.”

24. “Market research doesn’t help. If you had gone to a customer in 2013 and said, ‘would you like a black, always-on cylinder in your kitchen about the size of a Pringles can that you can talk to and ask questions, that also turns on your lights and plays music?’ I guarantee you they’d have looked at you strangely and said, ‘No, thank you.'”

25. “I do get asked, quite frequently: ‘what’s gonna change in the next 10 years?’ I rarely get asked, and it’s probably more important — and I encourage you to think about this — is the question what’s not going to change? The answer to that question can allow you to organize your activities. You can work on those things with the confidence to know that all the energy you put into them today is still going to pay dividends in the years to come.”

26. “Failure and invention are inseparable twins. To invent you have to experiment, and if you know in advance that it’s going to work, it’s not an experiment.”

27. “I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.”

28. “There’ll always be serendipity involved in discovery.”

29. “You have to be willing to be misunderstood if you’re going to innovate.”

30. “If you double the number of experiments you do per year, you’re going to double your inventiveness.”

31. “Invention requires a long-term willingness to be misunderstood. You do something that you genuinely believe in, that you have conviction about, but for a long period of time, well-meaning people may criticize that effort. When you receive criticism from well-meaning people, it pays to ask, ‘Are they right?’ And if they are, you need to adapt what your’re doing. If they’re not right, if you really have conviction that they’re not right, you need to have that long-term willingness to be misunderstood. It’s a key part of invention.”

32. “One common pitfall for large organizations – one that hurts speed and inventiveness – is ‘one-size-fits-all’ decision making…The end result of this is slowness, unthoughtful risk aversion, failure to experiment sufficiently, and consequently diminished invention. We’ll have to figure out how to fight that tendency.”

33. “To get something new done you have to be stubborn and focused, to the point that others might find unreasonable.”

34. “If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunity on the table.”

35. “If you’re watching your competitors, you’re unlikely to invent a bunch of stuff on your own.”

36. “Me-too companies have not done that well over time.”

37. “Sometimes (often actually) in business, you do know where you’re going, and when you do, you can be efficient. Put in place a plan and execute. In contrast, wandering in business is not efficient … but it’s also not random. It’s guided – by hunch, gut, intuition, curiosity, and powered by a deep conviction that the prize for customers is big enough that it’s worth being a little messy and tangential to find our way there. Wandering is an essential counter-balance to efficiency. You need to employ both. The outsized discoveries – the “non-linear” ones – are highly likely to require wandering.”

38. “No customer was asking for Echo. This was definitely us wandering. Market research doesn’t help.”

39. “Development of the Fire phone and Echo was started around the same time. While the Fire phone was a failure, we were able to take our learnings (as well as the developers) and accelerate our efforts building Echo and Alexa.”

40. “Staying in Day 1 requires you to experiment patiently, accept failures, plant seeds, protect saplings, and double down when you see customer delight.”

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