My Top Jeff Bezos Qoutes As an Entreprenuer

April 6, 2019

This list will be updated as time goes.

A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.

If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.

There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be the second.

If you double the number of experiments you do per year you’re going to double your inventiveness.

Life’s too short to hang out with people who aren’t resourceful.

We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient.

One of the things we don’t do very well at Amazon is a me-too product offering. So when I look at physical retail stores, it’s very well served, the people who operate physical retail stores are very good at it…the question we would always have before we would embark on such a thing is: What’s the idea? What would we do that would be different? How would it be better? We don’t want to just do things because we can do them…we don’t want to be redundant.

If there’s one reason we have done better than of our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience, and that really does matter, I think, in any business. It certainly matters online, where word-of-mouth is so very, very powerful.

We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn’t be in this business.

If you don’t understand the details of your business you are going to fail.

Your margin is my opportunity.

The killer app that got the world ready for appliances was the light bulb. So the light bulb is what wired the world. And they weren’t thinking about appliances when they wired the world. They were really thinking about – they weren’t putting electricity into the home. They were putting lighting into the home.

I’m skeptical of any mission that has advertisers at its centerpiece

My own view is that every company requires a long-term view.

In the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts.

A company shouldn’t get addicted to being shiny, because shiny doesn’t last

The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.

If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.

The best customer service is if the customer doesn’t need to call you, doesn’t need to talk to you. It just works.

If you’re competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering.

Our point of view is we will sell more if we help people make purchasing decisions.

I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.

I believe you have to be willing to be misunderstood if you’re going to innovate.

It’s not an experiment if you know it’s going to work.

I don’t want to use my creative energy on somebody else’s user interface.

I don’t think that you can invent on behalf of customers unless you’re willing to think long-term, because a lot of invention doesn’t work. If you’re going to invent, it means you’re going to experiment, and if you’re going to experiment, you’re going to fail, and if you’re going to fail, you have to think long term.

You can do the math 15 different ways, and every time the math tells you that you shouldn’t lower prices because you’re going to make less money. That’s undoubtedly true in the current quarter, in the current year. But it’s probably not true over a 10-year period, when the benefit is going to increase the frequency with which your customers shop with you, the fraction of their purchases they do with you as opposed to other places. Their overall satisfaction is going to go up.

I strongly believe that missionaries make better products. They care more. For a missionary, it’s not just about the business. There has to be a business, and the business has to make sense, but that’s not why you do it. You do it because you have something meaningful that motivates you.

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.

comments powered by Disqus