Jeffrey Preston Bezos (born January 12, 1964) is an American technology and retail entrepreneur, investor, and philanthropist who is best known as the founder, chairman, and Chief Executive Officer of Amazon.com, the world’s largest online shopping retailer. The company began as an Internet merchant of books and expanded to a wide variety of products and services, most recently video streaming and audio streaming. Amazon.com is currently the world’s largest Internet sales company on the World Wide Web, as well as the world’s largest provider of cloud infrastructure services, through its Amazon Web Services arm.
Bezos’ other diversified business interests include aerospace and newspapers. He is the founder and manufacturer of Blue Origin (founded in 2000) with test flights to space which started in 2015, and plans for commercial suborbital human spaceflight beginning in 2018. In 2013, Bezos purchased The Washington Post newspaper. A number of other business investments are managed through Bezos Expeditions.
When markets opened on July 27, 2017, Bezos briefly became the world’s richest person, surpassing Bill Gates with a net worth of just over $90 billion. He lost the title later in the day when Amazon’s stock dropped, returning him to second place with a net worth just below $90 billion. [Excerpt from Wikipedia, the free encyclopedia ]
Below are some of his business Inspiration
Life’s too short to hang out with people who aren’t resourceful.
If you can’t tolerate critics, don’t do anything new or interesting.
The common question that gets asked in business is, ‘why?’ That’s a good question, but an equally valid question is, ‘why not?’
Millions of people were inspired by the Apollo Program. I was five years old when I watched Apollo 11 unfold on television, and without any doubt it was a big contributor to my passions for science, engineering, and exploration.
There are two ways to extend a business. Take inventory of what you’re good at and extend out from your skills. Or determine what your customers need and work backward, even if it requires learning new skills. Kindle is an example of working backward.
The thing that motivates me is a very common form of motivation. And that is, with other folks counting on me, it’s so easy to be motivated.
I strongly believe that missionaries make better products. They care more. For a missionary, it’s not just about the business. There has to be a business, and the business has to make sense, but that’s not why you do it. You do it because you have something meaningful that motivates you.
My own view is that every company requires a long-term view.
There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.
My view is there’s no bad time to innovate.
What’s dangerous is not to evolve.
The human brain is an incredible pattern-matching machine.
If you don’t understand the details of your business you are going to fail.
It’s not an experiment if you know it’s going to work.
I don’t think that you can invent on behalf of customers unless you’re willing to think long-term, because a lot of invention doesn’t work. If you’re going to invent, it means you’re going to experiment, and if you’re going to experiment, you’re going to fail, and if you’re going to fail, you have to think long term.
The best customer service is if the customer doesn’t need to call you, doesn’t need to talk to you. It just works.
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.
What we want to be is something completely new. There is no physical analog for what Amazon.com is becoming.
You know you’re not anonymous on our site. We’re greeting you by name, showing you past purchases, to the degree that you can arrange to have transparency combined with an explanation of what the consumer benefit is.
When it comes to space, I see it as my job, I’m building infrastructure the hard way. I’m using my resources to put in place heavy lifting infrastructure so the next generation of people can have a dynamic, entrepreneurial explosion into space.
It is very difficult to get people to focus on the most important things when you’re in boom times.
We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn’t be in this business.
I don’t want to use my creative energy on somebody else’s user interface.
You want your customers to value your service.
Market leadership can translate directly to higher revenue, higher profitability, greater capital velocity, and correspondingly stronger returns on invested capital.
There’ll always be serendipity involved in discovery.
Real estate is the key cost of physical retailers. That’s why there’s the old saw: location, location, location.
Percentage margins don’t matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.
If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.
I believe you have to be willing to be misunderstood if you’re going to innovate.
If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.
Great industries are never made from single companies. There is room in space for a lot of winners.
I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.
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.
We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.