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Focusing on the customer makes a company more resilient.

Jeff Bezos

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Jeff Bezos
Age: 60
Born: 1964
Born: January 12
Astronaut
Computer Scientist
Entrepreneur
Albuquerque
New Mexico
Jeffrey Preston Bezos
Jeffrey Preston Jorgensen
Jeff Preston Bezos
Jeffrey Preston ''Jeff'' Bezos
Customers
Company
Makes
Resilient
Focusing
Customer

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We were hoping to build a small profitable company and of course, what we've done is build a large, unprofitable company.
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Work hard, have fun and make history.
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We watch our competitors, learn from them, see the things that they were doing for customers and copy those things as much as we can.
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If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends.
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But there's so much kludge, so much terrible stuff, we are at the 1908 Hurley washing machine stage with the Internet. That's where we are. We don't get our hair caught in it, but that's the level of primitiveness of where we are. We're in 1908.
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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.
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You know, if you make a customer unhappy they won't tell five friends, they'll tell 5,000 friends. So, we are at a point now where we have all of the things we need to build an important and lasting company, and if we don't, it will be shame on us.
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Web 1.0 was making the Internet for people, Web 2.0 is making the Internet better for companies.
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Our point of view is we will sell more if we help people make purchasing decisions.
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I've not seen an effective manager or leader who can't spend some fraction of time down in the trenches... If they don't do that they get out of touch with reality, and their whole thought and management process becomes abstract and disconnected.
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Go to bed early and wake up early. The morning hours are good.
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Do something you're very passionate about, and don't try to chase what is kind of the hot passion of the day.
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My own view is that every company requires a long-term view.
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On the Internet, companies are scale businesses, characterized by high fixed costs and relatively low variable costs. You can be two sizes: You can be big, or you can be small. It's very hard to be medium. A lot of medium-sized companies had the financing rug pulled out from under them before they could get big.
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You don't want to negotiate the price of simple things you buy every day.
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Feel free to cover Amazon any way you want. Feel free to cover Jeff Bezos any way you want.
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If you don't understand the details of your business you are going to fail.
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If you look at academic studies, you can see that stock prices are most closely correlated with cash flow. It's such a straightforward number. Cash flow is what will drive shareholder returns.
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The framework I found which made the decision incredibly easy was what I called — which only a nerd would call — a “regret minimization framework.” So, I wanted to project myself forward to age 80 and say, “Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.”
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There's so much stuff that has yet to be invented. There's so much new that's going to happen. People don't have any idea yet how impactful the internet is going to be and that this is still Day 1 in such a big way.
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