Founder of Amazon, richest man on the planet and now an amateur astronaut, Jeff Bezos is undeniably successful. But it’s important to remember that even Mr Bezos started out as an entrepreneur and he has since shared his own top tips for entrepreneurs wanting to follow his footsteps.
The two pizza rule
According to Mr Bezos, when a group must work collectively on a single task, the number of people should be able to be fed with only two pizzas.
If some people in the group would go hungry, or if there are leftovers, there are too many or too few people to work on this task.
Flexibility and stubbornness
Mr Bezos began: “If you’re not stubborn, you’ll give up on experiments soon.
“If you are not flexible, you will pound your head against the wall and you will not see a different solution to a problem you are trying to solve.”
Finding the balance between these two values is where entrepreneurial dreams materialise.
Word of mouth
With so many businesses, especially e-commerce businesses set up during lockdown, it’s easy to forget that not all marketing has to be paid for pop-up ads.
Additionally, there are countless places for customers to leave reviews and endorse or shun a business, so focusing onthe customer and taking their opinions into account will help build a positive reputation.
Mr Bezos said: “A brand for a company is like a reputation for a person.
“You earn reputation by trying to do hard things well.”
“What we’re really focused on is thinking long-term, putting the customer at the centre of our universe and inventing,” he commented.
Surprisingly, Mr Bezos has never been known to worry about his quarterly financial reports.
His focus lies much further in the future and by focusing on that he is able to let market fluctuations and freak dips brush off his shoulders.
This focus is ideal for young entrepreneurs as the markets are as unpredictable as ever and in order to create a steady, thriving business they can’t focus on your daily sales numbers, according to Mr Bezos.
Rather, it’s suggested people look at the long-term goals for their business and find ways in the present that will help to achieve them.