Jeff Bezos is already the richest man in the history of humanity and everything seems to indicate that, in the coming years, he will reach a historical figure that many mere mortals do not even dream of (the data indicates that he will be a trillionaire soon) .
What is the secret of Jeff Bezos’ success ? We already know that you apply the rule of awkward silence (used by characters like Tim Cook and Keanu Reeves ) to think before you speak and make sure nothing that comes out of your mouth can be used against you, but that’s just one of their strategies. Bezos has spent years perfecting his business and his techniques to continue making millions of dollars every day, he reads books, develops plans and creates strategic alliances, thus proving that success is not a coincidence or a matter of luck, you have to be smart to get it.
Although now it is difficult to imagine, Jeff Bezos was not born a millionaire, he was a simple businessman with a brilliant idea that he knew how to develop and grow over the years. Amazon was an online book-selling site, but Bezos discovered that there was a lot of potential there and ultimately turned Amazon into a giant of sales, services, and even film and television productions.
The concept of Amazon was not the most original (to sell books), but Bezos’s vision and approach were, and from the first letter he sent to his shareholders in 1997 you could see that he had a plan to dominate world.
The interesting thing about Bezos’ success (who, in case you’re curious, makes about $ 13 million a day) is that he teaches us all, even if we are not thinking of creating a giant company, the keys to follow in his footsteps and become in the best in whatever we do. In his book The Bezos Letters, Steve Anderson even makes an analysis of the system that Bezos uses to be successful, explaining that it boils down to four cycles made up of fourteen growth principles.
The 4 cycles of Jeff Bezos:
Cycle 1: Test
This starts with an idea, but before you quit your job and leave everything to dedicate yourself to it fully, you have to have a test to determine if it is something that you can really replicate and if there is a market for what you have in mind.
Bezos says do not wait to have the final product to do it, you have to generate a prototype and launch it to the “wolves” (aka your audience) to see how they react and how they accept it.
- Promote defeats , all failures can teach you something important and help you get where you want.
- Bet on the great ideas , after all the failures, give priority to the ideas that worked best.
- Dynamic innovation , look for new ways to carry out your vision, explore the possibilities and the best ways to make it come true.
Cycle 2: Build
Do you already have your idea and tried it? Now is the time to lay the groundwork using the information we collected with the test. What you need to do is build the system that will allow you to respond to current and future needs, and to keep innovating and creating new things and ideas over time.
- Get obsessed with your customers , your great idea is not going anywhere if no one buys it.
- Think long term , Amazon was not born overnight, it was a process that Bezos was building and expanding from the beginning.
- Flywheel Model , this puts the customer at the center of the process and the experience, which is what makes them “fall in love” with an idea or product.
Cycle 3: Accelerate
You already have an idea that works and a customer base, now is the time to work hard and keep looking for ways to grow the business, daring to try new things or paths, as happened with Amazon when it went from selling books to thousands of products from all.
- Make high-speed decisions , look for roads and people to help you move forward, instead of getting stuck in bureaucracy.
- Make the complicated simple , do not put your foot alone, simplify and clean the processes, reduce unnecessary noise, learn to “save” where possible and eliminate what does not work.
- Accelerate time with technology , using technology can help you reduce time, make things easier and more effective, as when Amazon added the option to buy with a click.
- Sense of ownership , create a team culture and a community, this will help everyone to work better together and to really commit to the success of the project.
Cycle 4: Scale
This does not mean that all companies and projects have to be Amazon , but that ways must be found to grow more and more, to cover new needs and to find new territories or areas of opportunity.
- Maintain your culture , problems come when you start to grow and the pressure increases, but, if you maintain a good work culture, then your team will remain faithful at all times.
- Focus on high standards – wanting to get things done fast doesn’t justify lowering the quality.
- Measure what matters and trust your intuition , you should focus your attention on the really relevant points, allowing your instinct to become a guide (because, if something does not feel right, it probably is not).
- Think that it is always day one , do not lose your curiosity, the desire to grow and work. Steve Jobs said it well (and Bezos applies it), staying curious and hungry is the key to being successful.