Thread
Jeff Bezos is worth 131.9 billion dollars.
He shared how he did it for 18 years in the Amazon Letters.
I read all 40,000 words, so you don't need to.
Here are 11 lessons everyone should know:
He shared how he did it for 18 years in the Amazon Letters.
I read all 40,000 words, so you don't need to.
Here are 11 lessons everyone should know:
• Make the right decisions
Type 1 decisions are irreversible. A one-way door.
Make them slow, careful, deliberate, and consult others.
Type 2 decisions are reversible. A two-way door.
Make them quick by individuals or small groups with high judgment.
Type 1 decisions are irreversible. A one-way door.
Make them slow, careful, deliberate, and consult others.
Type 2 decisions are reversible. A two-way door.
Make them quick by individuals or small groups with high judgment.
• Think long term
Your success will be measured over the long term.
The longer your horizon, the better the decision you will make.
Reflect on this focus. Always.
Your success will be measured over the long term.
The longer your horizon, the better the decision you will make.
Reflect on this focus. Always.
• Plant seeds and wait
Plant seeds that will grow into meaningful new businesses.
It takes discipline, a bit of patience, and a nurturing culture.
Invest in new businesses you expect can generate specific returns on capital and scale to a meaningful size.
Plant seeds that will grow into meaningful new businesses.
It takes discipline, a bit of patience, and a nurturing culture.
Invest in new businesses you expect can generate specific returns on capital and scale to a meaningful size.
• Think exponentially
In 2001, Amazon saw:
• processing power 2x every 18 months
• price performance of disk space 2x every 12
• price performance of bandwidth 2x every 9
They predicted it would allow 60x bandwidth per customer in 5 years at the SAME COST per customer.
In 2001, Amazon saw:
• processing power 2x every 18 months
• price performance of disk space 2x every 12
• price performance of bandwidth 2x every 9
They predicted it would allow 60x bandwidth per customer in 5 years at the SAME COST per customer.
• Focus on customers
Focus on your customers, and obsess over them.
Focus on offering value and efficiency.
The more customers you have, the more you can offer value.
Make all decisions with customers in mind.
Focus on your customers, and obsess over them.
Focus on offering value and efficiency.
The more customers you have, the more you can offer value.
Make all decisions with customers in mind.
• Be afraid
Wake up terrified.
Not of your competition, of your customers.
Without customers, you have no business.
Without evolution, you have no business.
There's no rest for the weary.
Wake up terrified.
Not of your competition, of your customers.
Without customers, you have no business.
Without evolution, you have no business.
There's no rest for the weary.
• Work long, hard, and smart
You can work long, hard or smart, but at Amazon, you can't choose two of three.
Your colleagues determine your future.
Set the bar high and hire the best.
You can work long, hard or smart, but at Amazon, you can't choose two of three.
Your colleagues determine your future.
Set the bar high and hire the best.
• Hire the best
To hire the best people, ask:
• Will I admire this person
• Will they raise our average
• Where can they be a superstar
Your colleagues make or break the business.
Hire colleagues who will raise the bar.
Work Hard, Have Fun, and Make History.
To hire the best people, ask:
• Will I admire this person
• Will they raise our average
• Where can they be a superstar
Your colleagues make or break the business.
Hire colleagues who will raise the bar.
Work Hard, Have Fun, and Make History.
• Pay to Quit
You want people on the team who want to be on the team.
If they don't want to be on the team, get them off.
Amazon, borrowed from Zappos, offers $2,000 to colleagues to quit. The offer increases $1,000 per year until $5,000.
You want people on the team who want to be on the team.
If they don't want to be on the team, get them off.
Amazon, borrowed from Zappos, offers $2,000 to colleagues to quit. The offer increases $1,000 per year until $5,000.
• Dream Businesses
A dream business has four characteristics:
• customers love it
• it can grow to a large size
• it has strong returns on capital
• it can endure long-term - decades
When you find these, go all-in.
A dream business has four characteristics:
• customers love it
• it can grow to a large size
• it has strong returns on capital
• it can endure long-term - decades
When you find these, go all-in.
• Always Day 1
Day 1 at Amazon is growth, always moving forward.
Day 2 is stasis, followed by irrelevance, excruciating, painful decline, and ultimately death.
To always be on Day 1, follow all of the points above.
It's always Day 1. Every. Single. Day.
Day 1 at Amazon is growth, always moving forward.
Day 2 is stasis, followed by irrelevance, excruciating, painful decline, and ultimately death.
To always be on Day 1, follow all of the points above.
It's always Day 1. Every. Single. Day.
If you enjoyed this thread and want to work on your own threads, hit up the masters in Ship 30 for 30, which launches on August 8th.
When I joined @dickiebush and @Nicolascole77, I had ~ 20,000 followers and I've grown 6x with their lessons:
enroll.ship30for30.com/a/9rxzc
When I joined @dickiebush and @Nicolascole77, I had ~ 20,000 followers and I've grown 6x with their lessons:
enroll.ship30for30.com/a/9rxzc
@dickiebush @Nicolascole77 TL;DR:
If you want to succeed like Jeff Bezos:
• Be afraid
• Pay to quit
• Plant seeds
• Cash is king
• Hire the best
• Customers 1st
• Think long-term
• Think exponentially
• Process over results
• Make the right decisions
Remember, It is always Day 1
If you want to succeed like Jeff Bezos:
• Be afraid
• Pay to quit
• Plant seeds
• Cash is king
• Hire the best
• Customers 1st
• Think long-term
• Think exponentially
• Process over results
• Make the right decisions
Remember, It is always Day 1
@dickiebush @Nicolascole77 If you benefitted from this thread, please help me out:
• Share the first tweet below
• Follow @IAmClintMurphy
• Listen to the Podcast
Until tomorrow,
Clint Murphy
• Share the first tweet below
• Follow @IAmClintMurphy
• Listen to the Podcast
Until tomorrow,
Clint Murphy
@dickiebush @Nicolascole77 I want to help you grow:
• Personally
• Professionally
• and, Financially
Follow @IAmClintMurphy for more content and come listen to my Podcast:
• Rate it
• Review it
• Subscribe for more
podcasts.apple.com/ca/podcast/the-pursuit-of-learning/id1563282167
• Personally
• Professionally
• and, Financially
Follow @IAmClintMurphy for more content and come listen to my Podcast:
• Rate it
• Review it
• Subscribe for more
podcasts.apple.com/ca/podcast/the-pursuit-of-learning/id1563282167
