3 Business Lessons from Jeff Bezos
Jeff Bezos is more than the founder and CEO of Amazon and new owner of The Washington Post. He is also one of the brightest businessmen in the entire world.
Even if you don't know the first thing about his story at Amazon, you can learn from Bezos. Here are three business lessons from the popular CEO to hang your hat on:
1. "We are stubborn on vision. We are flexible on details." This is one of those Bezos quotes that has been repeated by millions of people, millions of time.
What it means is simple: you need to be stubborn enough to stick with your vision and entrepreneurial goals. At the same time, you must be flexible enough to change your approach as you search for the right solution.
2. Small groups are better than big ones. Bezos believes in what he calls "the two pizza rule." Every group should be small enough to feed with no more than two pizzas. Generally speaking, this works out to a team of five or six employees.
Despite the fact that Amazon has nearly 100,000 employees, Bezos still preaches this concept.
3. There is nothing wrong with experimenting. In fact, Bezos believes that more is better when it comes to experimentation.
Here is a quote that is sure to stick in your mind:
"If you double the number of experiments you do per year you're going to double your inventiveness."
Some people don't like to experiment with new ideas because they worry about wasting time. Other people don't like to experiment because they are afraid of failing. Push all this to the side and put on your thinking cap. If Bezos believes in experimenting there must be something to the idea.
Although you can learn a lot from Jeff Bezos, as well as other businessmen with similar experience and knowledge, the three points above have helped many take their business to new heights. Are you next?
This is part of an ongoing series on some of America's most successful entrepreneurs and companies got their start. Read about three more business lessons from Oprah.