Sunday, December 29, 2019
Jeff Bezos says the true secret to business success is to focus on the things that wont change, not the things that will
Jeff Bezos says the true secret to business success is to focus on the things that wont change, not the things that willJeff Bezos says the true secret to business success is to focus on the things that wont change, not the things that willAmazon CEO Jeff Bezos is constantly asked to predict what the future will be like in 10 years - and hes game to shrug and try - but he said thats exactly the wrong way to go about business strategy.Its interesting, I do get asked quite frequently whats going to change in the next 10 years. One thing I rarely get asked is probably even more important - and I encourage you to think about this - is the question Whatsnotgoing to change in the next 10 years, he said on stage at Amazons inaugural ReMars artificial-intelligence and robotics conference on Thursday.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreThe answer to that question can allow you to organiz e your activities. You can work on those things with the confidence to know that all the energy you put into them today is still going to be paying you dividends 10 years from now, he said.For Amazons e-commerce business, for instance, he knows that in the next decade people will still want low prices, fast shipping, and a large selection.Its impossible to imagine people saying to me, Jeff, I love Amazon. I just wish you delivered a little more slowly. Or, I love Amazon, I just wish your prices were a little higher, he said.Bezos said that when a business leader can identify those big ideas that are stable - and are usually customer needs - it changes how the leader organizes their business, what they fund, what risks they take, and so one. The focus becomes, What can we do to offer lower prices? To deliver faster? and so on, Bezos said.In contrast, he said that when a leader bases their strategy on things that will change, like who the competitors are and what their activities ar e, you are going to have to be changing your strategy all the time.And, he added that when it comes to knowing what wont change, you wont have to do a lot of research on that. As soon as you think about it that way, these things are so big, so fundamental you can just write the answers down.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people
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