he left a high-paying job to bet on himself and start a dot-com company when
himself and start a dot-com company when
himself and start a dot-com company when everyone thought he was crazy he built
everyone thought he was crazy he built
everyone thought he was crazy he built it up to build the largest retailer in
it up to build the largest retailer in
it up to build the largest retailer in the world and prove his doubters wrong
the world and prove his doubters wrong
the world and prove his doubters wrong he’s now work over 30 billion dollars
he’s now work over 30 billion dollars
he’s now work over 30 billion dollars and is one of the richest 15 people in
and is one of the richest 15 people in
and is one of the richest 15 people in the world
the world
the world he’s Jeff Bezos founder of amazon.com
he’s Jeff Bezos founder of amazon.com
he’s Jeff Bezos founder of amazon.com and here are his 10 rules for success
when I decided to do this I I first
when I decided to do this I I first talked to my my wife who is sitting here
talked to my my wife who is sitting here
talked to my my wife who is sitting here in the audience and she had married a
in the audience and she had married a
in the audience and she had married a you know relatively stable goofy but
you know relatively stable goofy but
you know relatively stable goofy but still relatively stable a person working
still relatively stable a person working
still relatively stable a person working at a Wall Street firm or to the
at a Wall Street firm or to the
at a Wall Street firm or to the quantitative hedge fund and this was a
quantitative hedge fund and this was a
quantitative hedge fund and this was a hard decision and I was looking for the
hard decision and I was looking for the
hard decision and I was looking for the right framework in which to make that
right framework in which to make that
right framework in which to make that kind of important decision and and the
kind of important decision and and the
kind of important decision and and the right framework I found is a regret
right framework I found is a regret
right framework I found is a regret minimization framework and that’s just a
minimization framework and that’s just a
minimization framework and that’s just a nerdy way of saying that you want to
nerdy way of saying that you want to
nerdy way of saying that you want to project yourself to age 80 and then
project yourself to age 80 and then
project yourself to age 80 and then think back over your life and if you’re
think back over your life and if you’re
think back over your life and if you’re if you’re if you’re 81 or the thyou want
if you’re if you’re 81 or the thyou want
if you’re if you’re 81 or the thyou want to minimize the number of regrets you
to minimize the number of regrets you
to minimize the number of regrets you have throughout that period of time I
have throughout that period of time I
have throughout that period of time I think this is something a lot of people
think this is something a lot of people
think this is something a lot of people do maybe subconsciously they probably
do maybe subconsciously they probably
do maybe subconsciously they probably very few people probably name it regret
very few people probably name it regret
very few people probably name it regret minimization framework because most
minimization framework because most
minimization framework because most people are healthier than that but but
people are healthier than that but but
people are healthier than that but but it was a very clear way for me to think
it was a very clear way for me to think
it was a very clear way for me to think about making that kind of life decision
about making that kind of life decision
about making that kind of life decision and then and in the way it helped was I
and then and in the way it helped was I
and then and in the way it helped was I thought okay if I go do this thing and
thought okay if I go do this thing and
thought okay if I go do this thing and participate in this thing called the
participate in this thing called the
participate in this thing called the Internet that I genuinely believe is
Internet that I genuinely believe is
Internet that I genuinely believe is going to be a big deal and if I fail am
going to be a big deal and if I fail am
going to be a big deal and if I fail am I going to regret having tried and
I going to regret having tried and
I going to regret having tried and failed and I knew the answer that was no
failed and I knew the answer that was no
failed and I knew the answer that was no but I also knew that if I didn’t try
but I also knew that if I didn’t try
but I also knew that if I didn’t try that I would always regret that I would
that I would always regret that I would
that I would always regret that I would always wonder and it would haunt me
always wonder and it would haunt me
always wonder and it would haunt me until that you know mythical day which I
until that you know mythical day which I
until that you know mythical day which I actually hope will come many many kids
actually hope will come many many kids
actually hope will come many many kids and many grown-ups do figure out over
and many grown-ups do figure out over
and many grown-ups do figure out over time what their passions are and
time what their passions are and
time what their passions are and sometimes we let our I don’t think it’s
sometimes we let our I don’t think it’s
sometimes we let our I don’t think it’s that hard I think what happ
that hard I think what happ
that hard I think what happ though sometimes is that we let our
though sometimes is that we let our
though sometimes is that we let our intellectual selves overrule those
intellectual selves overrule those
intellectual selves overrule those passions and so that’s what needs to be
passions and so that’s what needs to be
passions and so that’s what needs to be guarded against I’m going to put the
guarded against I’m going to put the
guarded against I’m going to put the vast majority of my energy attention and
vast majority of my energy attention and
vast majority of my energy attention and dollars into building a great product or
dollars into building a great product or
dollars into building a great product or service and put a smaller amount into
service and put a smaller amount into
service and put a smaller amount into shouting about it marketing it because I
shouting about it marketing it because I
shouting about it marketing it because I know if I build a great product or
know if I build a great product or
know if I build a great product or service my customers will tell each
service my customers will tell each
service my customers will tell each other you have to mix in some patience
other you have to mix in some patience
other you have to mix in some patience with that almost seven years ago now I
with that almost seven years ago now I
with that almost seven years ago now I started this most incredible journey
started this most incredible journey
started this most incredible journey called amazon.com actually at that time
called amazon.com actually at that time
called amazon.com actually at that time it wasn’t even called amazon.com it was
it wasn’t even called amazon.com it was
it wasn’t even called amazon.com it was called Cadabra Inc as an abracadabra
called Cadabra Inc as an abracadabra
called Cadabra Inc as an abracadabra that was the original name of the
that was the original name of the
that was the original name of the company and I had phoned a lawyer on the
company and I had phoned a lawyer on the
company and I had phoned a lawyer on the way to Seattle from a cell phone and he
way to Seattle from a cell phone and he
way to Seattle from a cell phone and he said well what do you to incorporate the
said well what do you to incorporate the
said well what do you to incorporate the company he said what do you want the
company he said what do you want the
company he said what do you want the company to be called and I said Cadabra
company to be called and I said Cadabra
company to be called and I said Cadabra he said cadaver I knew that was a bad
he said cadaver I knew that was a bad
he said cadaver I knew that was a bad name we changed it a few months later
name we changed it a few months later
name we changed it a few months later what we have always wanted to do is
what we have always wanted to do is
what we have always wanted to do is raise the standard for what it means to
raise the standard for what it means to
raise the standard for what it means to be customer centric to such a degree
be customer centric to such a degree
be customer centric to such a degree that other organizations whether they be
that other organizations whether they be
that other organizations whether they be other companies or whether they be
other companies or whether they be
other companies or whether they be hospitals or government agencies
hospitals or government agencies
hospitals or government agencies whatever the organization is they should
whatever the organization is they should
whatever the organization is they should look at Amazon as a role model and say
look at Amazon as a role model and say
look at Amazon as a role model and say how can we be as customer centric as
how can we be as customer centric as
how can we be as customer centric as Amazon editors I imagine right hopefully
Amazon editors I imagine right hopefully
Amazon editors I imagine right hopefully competitors as well but if we could make
competitors as well but if we could make
competitors as well but if we could make you know if that could be our legacy
you know if that could be our legacy
you know if that could be our legacy that we kind of raised the general idea
that we kind of raised the general idea
that we kind of raised the general idea of what it means to be customer centric
of what it means to be customer centric
of what it means to be customer centric that would be a huge accomplishment it
that would be a huge accomplishment it
that would be a huge accomplishment it would be accomplishing a mission that’s
would be accomplishing a mission that’s
would be accomplishing a mission that’s much bigger than ourselves we know
much bigger than ourselves we know
much bigger than ourselves we know customers like low prices we know
customers like low prices we know
customers like low prices we know customers like big selection and we know
customers like big selection and we know
customers like big selection and we know that customers like fast delivery and
that customers like fast delivery and
that customers like fast delivery and those things are going to be true ten
those things are going to be true ten
those things are going to be true ten years from now they’re going to be true
years from now they’re going to be true
years from now they’re going to be true twenty years from now so we can count on
twenty years from now so we can count on
twenty years from now so we can count on those things and we can put energy into
those things and we can put energy into
those things and we can put energy into them we know customers like their
them we know customers like their
them we know customers like their products fast and so we work on things
products fast and so we work on things
products fast and so we work on things that we know customers like what has
that we know customers like what has
that we know customers like what has worked at Amazon is focusing on the
worked at Amazon is focusing on the
worked at Amazon is focusing on the customer being very cutting the customer
customer being very cutting the customer
customer being very cutting the customer first which is easy to say but difficult
first which is easy to say but difficult
first which is easy to say but difficult to
to
to do if you really are customer-centric
do if you really are customer-centric
do if you really are customer-centric it’s like being the host of a party
it’s like being the host of a party
it’s like being the host of a party you’re holding the party for your guests
you’re holding the party for your guests
you’re holding the party for your guests sometimes the host the party is holding
sometimes the host the party is holding
sometimes the host the party is holding the party for the host of the party and
the party for the host of the party and
the party for the host of the party and that’s that leads to a different kind of
that’s that leads to a different kind of
that’s that leads to a different kind of party my advice would be the same for
party my advice would be the same for
party my advice would be the same for any kind of entrepreneur and that is
any kind of entrepreneur and that is
any kind of entrepreneur and that is make sure that you are focused on
make sure that you are focused on
make sure that you are focused on something you’re passionate about so if
something you’re passionate about so if
something you’re passionate about so if you look at the early internet companies
you look at the early internet companies
you look at the early internet companies they were started and focused on doing
they were started and focused on doing
they were started and focused on doing something that they thought was very
something that they thought was very
something that they thought was very interesting long before the internet was
interesting long before the internet was
interesting long before the internet was fashionable in anyway you know I I you
fashionable in anyway you know I I you
fashionable in anyway you know I I you know we are currently an underdog once
know we are currently an underdog once
know we are currently an underdog once again we’ve been in business for six
again we’ve been in business for six
again we’ve been in business for six years and there was exactly one year
years and there was exactly one year
years and there was exactly one year where we were not the underdog and that
where we were not the underdog and that
where we were not the underdog and that was 1999 I like the the underdog years
was 1999 I like the the underdog years
was 1999 I like the the underdog years because it makes a you know I liked it
because it makes a you know I liked it
because it makes a you know I liked it when all the people we hired their
when all the people we hired their
when all the people we hired their parents told them they were crazy like
parents told them they were crazy like
parents told them they were crazy like that was the that was kind of the good
that was the that was kind of the good
that was the that was kind of the good era fortunately it’s back in 1999 all
era fortunately it’s back in 1999 all
era fortunately it’s back in 1999 all the parents were like you know given
the parents were like you know given
the parents were like you know given their brothers and sisters high fives
their brothers and sisters high fives
their brothers and sisters high fives you know my son is working at amazon.com
you know my son is working at amazon.com
you know my son is working at amazon.com so that’s a very you can’t follow the
so that’s a very you can’t follow the
so that’s a very you can’t follow the fashion when you’re trying to do a
fashion when you’re trying to do a
fashion when you’re trying to do a startup company or I think really
startup company or I think really
startup company or I think really anything in life but you have to as an
anything in life but you have to as an
anything in life but you have to as an entrepreneur if you’re going to if
entrepreneur if you’re going to if
entrepreneur if you’re going to if you’re going to build a company pick
you’re going to build a company pick
you’re going to build a company pick something you think is interesting that
something you think is interesting that
something you think is interesting that has the intersection of genuinely
has the intersection of genuinely
has the intersection of genuinely creating real customer value and then
creating real customer value and then
creating real customer value and then just stay right there and let the wave
just stay right there and let the wave
just stay right there and let the wave catch you so if you can hold a ballet
catch you so if you can hold a ballet
catch you so if you can hold a ballet and that can be successful and you can
and that can be successful and you can
and that can be successful and you can hold a rock concert and that can be
hold a rock concert and that can be
hold a rock concert and that can be successful just don’t hold a ballet and
successful just don’t hold a ballet and
successful just don’t hold a ballet and advertise it as a rock concert and so
advertise it as a rock concert and so
advertise it as a rock concert and so you need to be clear with all of your
you need to be clear with all of your
you need to be clear with all of your stakeholders with you know are you
stakeholders with you know are you
stakeholders with you know are you holding a ballet or you holding a rock
holding a ballet or you holding a rock
holding a ballet or you holding a rock concert and then people get to
concert and then people get to
concert and then people get to self-select in you know we hire people
self-select in you know we hire people
self-select in you know we hire people who are who are really motivated by
who are who are really motivated by
who are who are really motivated by building new customer experiences they
building new customer experiences they
building new customer experiences they like to pioneer they like the rate of
like to pioneer they like the rate of
like to pioneer they like the rate of change they they wake up in the shower
change they they wake up in the shower
change they they wake up in the shower motivated by thinking about customers
motivated by thinking about customers
motivated by thinking about customers and occasionally somebody joins Amazon
and occasionally somebody joins Amazon
and occasionally somebody joins Amazon who their primary motivation comes from
who their primary motivation comes from
who their primary motivation comes from being thinking about competition or
being thinking about competition or
being thinking about competition or competitors those people can find Amazon
competitors those people can find Amazon
competitors those people can find Amazon a little dull you know so and again it’s
a little dull you know so and again it’s
a little dull you know so and again it’s not about right or wrong it’s just that
not about right or wrong it’s just that
not about right or wrong it’s just that different people are motivated by
different people are motivated by
different people are motivated by different things and what happens with
different things and what happens with
different things and what happens with corporate cultures is that over time
corporate cultures is that over time
corporate cultures is that over time that you people collect themselves in a
that you people collect themselves in a
that you people collect themselves in a way where they like that culture and
way where they like that culture and
way where they like that culture and then it becomes self-sustaining one of
then it becomes self-sustaining one of
then it becomes self-sustaining one of the things you’ve done so well at Amazon
the things you’ve done so well at Amazon
the things you’ve done so well at Amazon is you’ve undercut all of your rivals by
is you’ve undercut all of your rivals by
is you’ve undercut all of your rivals by keeping the prices low does that same
keeping the prices low does that same
keeping the prices low does that same strategy apply to tablets yes our
strategy apply to tablets yes our
strategy apply to tablets yes our approach is premium products at non
approach is premium products at non
approach is premium products at non premium prices so we sell the hardware
premium prices so we sell the hardware
premium prices so we sell the hardware at break-even so we don’t try to make
at break-even so we don’t try to make
at break-even so we don’t try to make any money when we saw this hardware and
any money when we saw this hardware and
any money when we saw this hardware and we hope to make money when people use
we hope to make money when people use
we hope to make money when people use the devices not when they buy the
the devices not when they buy the
the devices not when they buy the devices and so that’s a very different
devices and so that’s a very different
devices and so that’s a very different approach from most companies most
approach from most companies most
approach from most companies most companies are building quite a bit of
companies are building quite a bit of
companies are building quite a bit of profit into the sale of these devices
profit into the sale of these devices
profit into the sale of these devices whatever it is that you want to do your
whatever it is that you want to do your
whatever it is that you want to do your there’s going to be risk in your life
there’s going to be risk in your life
there’s going to be risk in your life and risk is a necessary component of
and risk is a necessary component of
and risk is a necessary component of progress you can make any pioneering
progress you can make any pioneering
progress you can make any pioneering movements in the world of any kind
movements in the world of any kind
movements in the world of any kind whether they be the geographical
whether they be the geographical
whether they be the geographical physical exploration that I’ve just been
physical exploration that I’ve just been
physical exploration that I’ve just been talking about whether it be you know a
talking about whether it be you know a
talking about whether it be you know a more cerebral exploration of a
more cerebral exploration of a
more cerebral exploration of a scientific field or I bet you could ask
scientific field or I bet you could ask
scientific field or I bet you could ask that question of every speaker here and
that question of every speaker here and
that question of every speaker here and I bet that every speaker here has taken
I bet that every speaker here has taken
I bet that every speaker here has taken substantial risks whether it be
substantial risks whether it be
substantial risks whether it be intellectual or otherwise to achieve
intellectual or otherwise to achieve
intellectual or otherwise to achieve what they’re you know what they’ve done
what they’re you know what they’ve done
what they’re you know what they’ve done thank you guys so much for watching I
thank you guys so much for watching I
thank you guys so much for watching I made this video because no leaf clover
made this video because no leaf clover
made this video because no leaf clover 830 asked me to so if there’s somebody
830 asked me to so if there’s somebody
830 asked me to so if there’s somebody that you want to see me make a top 10
that you want to see me make a top 10
that you want to see me make a top 10 video of leave it in the comments below
video of leave it in the comments below
video of leave it in the comments below I’d also love to know in the comments
I’d also love to know in the comments
I’d also love to know in the comments which of the 10 rules really stuck with
which of the 10 rules really stuck with
which of the 10 rules really stuck with you the most and had the biggest impact
you the most and had the biggest impact
you the most and had the biggest impact on you I’m going to join in the
on you I’m going to join in the
on you I’m going to join in the discussion so I look forward to seeing
discussion so I look forward to seeing
discussion so I look forward to seeing you there thank you so much for watching
you there thank you so much for watching
you there thank you so much for watching continue to believe and go have a great
continue to believe and go have a great
continue to believe and go have a great day
”
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