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Jeff Bezos, Founder & CEO, Amazon

Image: Amazon

Leadership Insights Never stop acting like a start-up

Jun 29, 2018

"We don’t make money when we sell things. We make money when we help customers make purchase decisions." — Jeff Bezos, Founder & CEO, Amazon

Jeff Bezos, Founder and CEO, Amazon, is someone who has always had a deep belief in his own proficiencies. It is one thing to have a visionary idea; it is another to quit your six-figure salary job and start your own online retail store, marking the birth of Amazon. In spite of the company being one of the biggest online stores today, Bezos continues to spread the ‘Day 1’ rule to this day in his organisation, which serves as a reminder that Amazon should never stop acting like a startup. This only shows the unusual tech leader’s high risk tolerance and reflects his staunch experimentalist streak, making him one of the richest people in the world.

While working as a software engineer in 1994, Bezos, one day, read that the World Wide Web usage was swelling by 2300% every month. This made him think - what if he could use this fast-growing new medium to sell goods to the public? So, Bezos chose to move into the budding world of e-commerce by opening a virtual bookstore.

A man with a plan and a hardcore realist, Bezos began developing the software for Amazon, which swiftly became the front runner in e-commerce, going on to become the world’s biggest online retailer, selling everything from CDs and videos and clothes to electronics, toys and more.

Taking this huge step, he was well aware that it would all come with the price of often being misunderstood. “One thing that I tell people is, if you’re going to do anything new or innovative, you have to be willing to be misunderstood. If you cannot afford to be misunderstood, then don’t do anything new or innovative,” says the world’s only centi-billionaire.

In terms of core business values, what remains striking about him is prioritising customer service, by being conscious of how the consumer would feel about his company’s decisions. So, rather than concentrating on immediate trends in the market, Bezos gears a substantial portion of his business model towards refining what customers already know they want, and making it better.

While Amazon is Bezos’s most popular undertaking, there’s more. He is known to have bought The Washington Post for $250 million in 2013. A passionate learner with high standards, he has even ventured into outer space with his own space-exploration company, Blue Origin, which he plans to push towards the business of moon colonisation.

Bezos recently received the Axel Springer Award 2018 for being the first person to recognise the potential of trading goods online. He has a clear view of what he does, where he wants to lead and has goals that range further into long-term visions, making him the highly effective leader that he is.

The feature compiles the leadership lessons from industry experts analyzing their journey towards success

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