Jeff Bezos: tips for entrepreneurs 2.0

The multibillionaire used to be a mere bookworm. When Bezos was 30, he quitted a well-paid job on Wall-Street in order to sell books. Today he is the richest media magnate on Earth. Jeff is ready to share his advice on how to make success happen in your life. If you haven’t read the first part, be sure to check it out!

🔹Don’t let the process kill progress
Large companies easily shift to the work format that ruins progress. Despite its size, Amazon still demonstrates its changeability. We can tell it by regular tests and experiments with Amazon Prime. They have implemented a free delivery during the day. Besides, they introduced Prime Video and Prime Day. Any entrepreneur has to be ready to master the business and look for innovations.

🔹Delve and improve
Bezos had managed to make Amazon successful with the help of breaking a traditional business practice. He created a new way of delivery. Elon Musk sticker to the same approach. He explored Mercedez Benz cars very carefully before launching Tesla.

🔹Get rid of bureaucracy
Startups are full of brand-new fast solutions. However, they frequently slow down getting stuck in paperwork. Bezos seeks to sustain startup vibes in Amazon, even though it has already turned into a huge world corporation. The maintenance of a fresh mentality is very important for the entrepreneurs who want to stay up-to-date.

🔹Become a failure master
The fear of making a bad decision often prevents a person from changes in life. But Bezos states that you can’t avoid making mistakes. So if an entrepreneur is not able to handle small fails, it will be nearly impossible to cope with bigger ones. Moreover, the will cost more. Try until it’s cheap and not large-scale. This way you understand how to deal with more considerable challenges further.

🔹Plan for a long term
That was the first thing Bezos advised to his shareholders. All aims should reflect company’s strategy in a long run. Every step the startup takes has to be considered from a long-term perspective. Such an approach will help you make more feasible choices and achieve not temporary but permanent success.

Which advice do you consider the most helpful? Share in the comments! 💬