A big company has only existed for 30 years, and here are 4 strategies Jeff Bezos used to help Amazon "forever" survive the "most terrible" value in the world!



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"Amazon is not as strong as it can last forever. I actually predict that Amazon will collapse," said Jeff Bezos, CEO and founder of Amazon, told Amazon employees. I'm at a meeting in 2018. He added, "Amazon goes bankrupt."

If you look at large companies, their "survival" period is over 30 years, not more than 100 years. So, Bezos is right. A midsize American company "will fly" at a faster rate, around 30 years, according to Martin Reeves, a famous strategist with a TED Talk presentation on how to build a company that can stand 100 years of surprises Another amazing thing , Reeves said that 32% of companies will not be able to survive for 5 years from now if they are purchased or do not grow very fast.

So how to avoid this unfortunate collapse?

Bezos said his goal is to help Amazon "survive" forever, this will be done by him throughout his life. To do this, the richest man in the world uses a new philosophy called "First Day" (Day 1). Imagine, if your CEO is in front of the company and says, "Let's go bankrupt." That's exactly what Jeff Bezos has done so many times over and over again.

A big company has only existed for 30 years, and here are 4 strategies Jeff Bezos used to help Amazon

He always said he foresaw that Amazon would one day cease to function. It is not the current company that does business, but because if you look at the statistics, you will see that all companies will eventually come to an end and will be replaced.

The billionaire has always talked about Day 1 for decades. He works in an Amazon headquarters building called "Day 1". This name is the innovation and growth phase of a company. So, what is Day 2?

What does an Amazon employee ask Jeff Bezos about what "Day 2" means? He said that Day 2 is the beginning of the end. He explained the perspective of Day 2: "To clarify, the decline of the company will occur at extremely low speeds. A listed company may take decades to advance to Day 2, but then they will come."

Here are four strategies that Jeff Bezos applies to help Amazon stay in a strong position.

First strategy: make customers happy

The Amazon boss believes that if you really care about customer satisfaction, you will make the changes that they will love so much that they will not be able to talk. Jeff Bezos wrote in a letter to shareholders in 2017: "No customer ever asked Amazon to offer Prime membership programs, but they certainly wanted to participate in that program when it was released and I can give many examples."

In addition, many leaders have similar opinions. It can be seen, former Apple CEO Steve Jobs does not want to focus on innovating in the majority trend. He thought people did not know what they wanted until they were "dedicated."

Second strategy: always be consistent!

He said, "We always do that." Do not let other ideas affect you. You should always ask if there is a better way to do new things. "

Bezos said, "An effective idea-building process will help you better serve customers, but if you're not careful, new ideas will get in the way.

A big company has only existed for 30 years, and here are 4 strategies Jeff Bezos used to help Amazon

He added, "Stop looking at the results and make sure you have done the right process." But the process is not a problem. Is it always worth the question, that we have to control the whole process or let it control us? "

Attempts to insure things are also a bad strategy

Instead, you should pay attention to what is happening in your industry and start working on it.

With the fast pace of technological development, no company can keep "good old days" and deny new trends. It is better to break yourself rather than let other things get in the way. Therefore, if you pay attention to change, you must overcome it and not "ignore it."

Final Strategy: Make Decisions Quickly

The world's richest man gave a phrase to the Amazon leadership group: "disagreeing and compromising," to help them make tough decisions. Ideally, a leader will feel 100% confident in making a decision.

However, this is not realistic at all. and if you are waiting until you feel completely confident or "vest" all the information, that opportunity will no longer be available as long as you are not moving fast. "Bezos points out that it is not totally wrong, failure can be reduced if you realize where it is wrong and act quickly.

What happens when your leadership team disagrees about future direction? Bezos uses the phrase "disagree and commit" to save time. He often applies this in case he does not reach a consensus with his colleagues and needs to make a decision immediately. Bezos said: "It's a disagreement, a way of expressing my opinion, an opportunity for the team to consider my opinion and a way to be consistent with their thoughts."

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