Jeff Bezos’s Top 8 Rules For Success
He left a high paying job and took a chance on himself to start a .com business when everyone thought he was crazy. He built his business and made it into the largest retailer in the world and he proved his doubters wrong.
He’s now worth over $30 billion and is one of the top 5 richest people in the world. He’s Jeff Bezos, founder of Amazon.com, and here are his Top 8 Rules for Success.
1. Have no regrets
Jeff proposes having a regret minimisation framework. He says that you should project yourself to age 30, and think back over your life to contemplate any regrets you may have had. For Jeff, this was a very clear way to make difficult decisions, even if they seemed daunting. He thought to himself that if he tried and failed, he surely would regret it, but if he didn’t try he knew he surely would regret it.
2. Follow your heart not your head
Simply put, Jeff believes that you shouldn’t let your intellectual self rule your lifes passions. Your passions should be nurtured and allowed to flourish, without fear being allowed to extinguish those flames.
3. Invest more in the product than marketing
Jeff believes that more energy needs to be put into a product or service and ensuring that it meets and exceeds your clients needs, than shouting about it. Your customers will tell each other how good it is.
4. Pick a good name
After initially calling his company Cadabra, as in Abracadabra, Jeff called his lawyer to incorporate the name. After mishearing the name and presuming it was called Cadaver, Jeff decided to change the name to Amazon.com.
5. Stand for something
Jeff Bezos has become arguably one of the most successful people in the world, and he believes that a large part of his success comes from being customer obsessed. He stood for bringing the customers exactly what they wanted, and putting that at the top of his priorities, and this made Amazon into what it is today.
6. Focus on the customer
Find out what your customers like and will always like, and focus on those things. Amazon customers will always like better prices and more selection, so Amazon can not go wrong by focusing on these things.
7. Focus on your passion
Dont play the game for the money, find something you are passionate about. This will help you endure the hardships and the difficult times. Without passion, you will give up.
8. Take a risk
Whatever you want to do in your life, risk is always going to be risk involved. Risk is an essential part of progress. Most successful people have taken substantial risk and they would not be where they are today had they not.
For more on Jeff Bezos, check out the following books to read:
Amazon.com’s visionary founder, Jeff Bezos, wasn’t content with being a bookseller. He wanted Amazon to become the everything store, offering limitless selection and seductive convenience at disruptively low prices. To do so, he developed a corporate culture of relentless ambition and secrecy that’s never been cracked. Until now.