Jeff Bezos’ Quotes which are better to be known when young to not Regret in Old Age

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 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 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 all businesses need to be young forever is your customer base ages with you you're woolworths in the old world you devoted 30 of your time to building a great service and seventy percent of your time to shouting at it in the new world that inverts there are two kinds of companies those that work that try to charge more and those that work to charge less we will be the second we are stubborn on vision we are flexible on deals if you only do things where you know the answer in advance your company goes away if you're long-term oriented customer interests and shareholder interests are aligned a company shouldn't get addicted to being shiny because shiny doesn't last all of my best decisions in business and in life have been made with heart intuition guts not analysis sometimes we measure things and see that in the short term they actually hurt sales and we do it anyway we are comfortable planting seeds and waiting for them to grow into trees 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 friends congratulate me after quarterly earnings announcement and say good job great quarter and i'll say thank you but that quarter was baked three years ago 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 failure and invention are inseparable twins to invent you have to experiment and if you know in advance that it's not going to work it's not an experiment i think frugality drives innovation just like other constraints do one of the only ways to get out of the type box is to invent your way out there always be serendipity involved in discovery you have to be willing to be misunderstood if you're going to innovate if you double the number of experiments you do per year you're going to double your inventiveness 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 if you're watching your competitors you're unlikely to invent a bunch of stuff on your own me too companies have not done that well over time no customer was asking for echo this was definitely us wandering market research doesn't help development of the fire phone an 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 staying in day one requires you to experiment patiently accept failures plant seeds protect saplings and double down when you see customer delight most decisions should probably be made with somewhere around 70 percent of the information you wish you had if you had weight for 90 percent in most cases you're probably being slow to invent you have to experiment and if you know in advance that is just not going to work it is not an experiment most large organizations embrace the idea of invention but are not willing to suffer the string of failed experiments necessary to get there we take risks all the time we talk about failure we need big failures in order to move the needle if we don't we're not swinging enough you really should be swinging hard and you will fail but that's okay we all know that if you swing for the fences you're going to strike out a lot but you're also going to hit some home runs if you're not flexible you'll pound your head against the wall and you won't see a different solution to a problem you're trying to solve if you never want to be criticized for goodness sakes don't do anything new companies are rarely criticized for the things that they failed to try but they are many times criticized for the things they tried and failed at as a company grows everything needs to scale including the size of your failed experiments if the size of your failures isn't growing you're not going to be inventing at a size that can actually move the needle amazon will be experimenting at the right scale for a company our size if we occasionally have multi-billion dollar failures when you think about the things that you will regret when you're 80 they're almost always the things that you did not do they're acts of omission very rarely are you going to regret something that you did that failed and did not work or whatever you can have a job or you can have a career or you can have a calling if you can somehow figure out how to have a calling you have hit the jackpot because that's the big deal if you can make a decision without analysis you should do so but it turns out in life that most important decisions are always made with the instinct and intuition taste heart where you're going to spend your time and your energy is one of the most important decisions you get to make in life life's too short to hang out with people who aren't resourceful in the end we are our choices build yourself a great story cleverness is a gift kindness is a choice gifts are easy they're given after all choices can be hard if i have three good decisions a day that's enough they should be just as high quality as i can make them the best customer service is if the customer doesn't need to call you doesn't need to talk to you it just works we don't focus on the optics of next quarter we focus on what is going to be good for the customer great innovations large and small are happening every day at amazon on behalf of customers