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7 Habits You Can Learn From Jeff Bezos and Amazon.com

7 Habits You Can Learn From Jeff Bezos and Amazon.com

The year is 1994. The scene: Jeff Bezos’ parents garage.

While many of us were kicking up our Airwalks with an episode of Friends playing in the background, Bezos was architecting a grand plan that would change the way people shopped forever. He called it the “Everything Store,” a place where, using the as-yet-untapped power of the Internet, people could purchase virtually anything. Twenty years later, the Everything Store makes billions worldwide and goes by the name Amazon.com.

What grew an idea planted in a Bellevue garage into one of today’s most successful businesses? Dedication, innovation, and 7 smart habits that you can use to nurture the success of your own enterprise.

1. Focus on Customers

Jeff Bezos understood early on that the advantage of an online business was in measuring customer behavior. Over the years, Amazon constantly adds features that are aimed of making their customers happy which, in turn, bolsters the company’s sales.

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Look at Amazon.com book reviews, as an example. Despite receiving a scolding from publishers, Amazon encouraged customers to post their thoughts, even if those thoughts were critical or negative. Customers loved sharing their insights and reading others’, too, and now, reviews are one of the best-trusted aspects of the modern e-commerce platform.

Make the core of your business customer satisfaction. Hunt relentlessly for what makes your customers smile, and innovate based on their needs.

2. Practice Frugality

Though not geographically far from the swank, luxuriously-stocked offices of Silicon Valley, Amazon got its start in a simple, functional space in Washington state and operated on a market with minimal margins. Frugality is in Amazon’s very DNA and seems to help the company focus on the most important things: its customers and continuing innovation.

What does frugality mean for Amazon? For starters, employees pay for their own parking tickets, snacks at the office aren’t free, and, when traveling, employees bunk in double rooms. In general, Amazon isn’t a place where staff spend relaxed days brainstorming over coffee. The norm is to work long, hard, and smart, with no compromises on any of the three.

Sometimes success doesn’t require any special conditions. A studied rejection of luxury can make for lean innovations and improve company focus.

3. Make Your Own Rules

What’s an internal meeting without a PowerPoint? Well, at Amazon, it starts with a written argument. Anyone who wants to propose a new idea must first distill his or her thoughts into a 6-page document. Before any decision is made, those involved, including Bezos himself, must take the time to read and dissect it.

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Another rule introduced by Bezos is the Two-Pizza Team: no team should be so big that you couldn’t feed it with two pizzas. According to Bezos, larger groups are less productive, so the company is organized into autonomous units of 10 or fewer that compete for resources (but not pizzas) in their mission to make their customers happier.

Honor organizational outlaws. It’s often the radical or outlandish approaches to daily business that make the most impact.

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    4. Think for the Long Term

    Bezos started Amazon with the long game in mind–a play that meant accepting short term losses that not everyone understood.

    Consider the e-book. When e-books first entered the market, most publishers sold them at prices commensurate to their print editions. Bezos, however, projected that their long-term price would be around 10 dollars and started selling them for 9.99. At first, this decision generated losses of about 5 dollars per e-book, but when the price eventually dropped, Amazon had already become the go-to for e-books. With this surprising strategy, he’d also laid the foundation for one of the company’s greatest successes, the Kindle.

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    Don’t be afraid to make decisions that might be unpopular in the moment but will reap future rewards.

    5. Risk It

    Before that big idea in the Bellevue garage took off, Jeff Bezos had a secure job at a hedge fund. Still, he quit it, set up in his parents’ garage, and poured his savings into making the Everything Store a reality. And it worked.

    Today, Amazon operates on the premise that the risk is worth the reward. This approach has led to flops such as Amazon Auctions, a division that simply couldn’t compete with eBay’s hold on the market, but it’s also spawned Amazon’s wildly successful 1-Click Purchase. To support a culture of initiative and enterprise, Bezos created a “Just Do It” award, conferred to both employees who tried and succeeded, and also to those who tried and failed. The core message is that taking a risk is preferable to being too fearful to move.

    Risks are worth taking. Half the time, you’ll fail, but when that initiative results in a win, it just might be big and bold.

    6. Let the Data Decide

    It might surprise you that Amazon.com started off as a book shop. The initial product selection was no happy accident on Bezos’ part, but rather the result of a long look at hard facts. Books can be shipped without breaking, they’re rarely returned, and they’ll never expire (even if the knowledge therein grows stale). In short, books are the ideal product for e-commerce.

    Every aspect of commerce and customer behavior is eminently quantifiable, so Bezos demands that all decisions be based on that intel. Meetings are not about customer anecdotes, but rather Excel sheets filled with relevant metrics.

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    Before making a call, consult the data. Humans can get it wrong, but numbers never lie.

    7. Stay Hungry

    Never ceasing to learn, evolve, and innovate might be the ultimate ingredient for success. Amazon began with books, but no sooner had they gained a foothold in that market than they conquered music, movies, electronics, and toys. Later came the Kindle, and with it, they won their niche. Even now, there are Amazon services completely under the radar to most consumers. Did you know that Amazon Web Services provides cloud computing services to big businesses, the US government, and even NASA?

    Becoming a viable player in such a variety of different arenas never came from Bezos sitting back, satisfied with the goods already reaped. To the contrary, he believes that there are no products and services Amazon couldn’t sell. Soon, the company will have its own delivery fleet, become a publisher and media company, build smartphones, and perhaps even offer 3D printing services. For Bezos, the future is rife with possibility, opportunity, and inventiveness–and he’s hungry for all that it brings.

    The road to success is paved with dissatisfaction. Never accept the status quo or say, “I’ve done enough.” Instead, keep searching for potential and inciting growth.

    Jeff Bezos’ unique way of thinking long-term and taking smart risks has made Amazon into the company it is today, one that writes its own rules and evolves every minute, not to mention one that rakes in an annual revenue of 75 billion dollars. Take it from Amazon’s founding striver: focus on customers, stay hungry, be frugal, and maybe, take a peep into the garage. If you look past the lawnmowers and buckets of paint, it just might be teeming with potential.

    This piece is based on knowledge from Brad Stone’s The Everything Store: Jeff Bezos and the Age of Amazon.

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    Sebastian Klein

    Sebastian is the co-founder of Blinkist, a serial entrepreneur, consultant, speaker and writer with a passion for management-free organizations.

    10 Powerful Ways to Stop Worrying and Start Living Today Life-changing books open your mind 10 Books to Read That Will Change The Way You Think Forever 10 Things You Can Learn From the Dalai Lama to Become a Happier Person Mentors 101 Mentors 101: Finding, Maintaining, and Outmatching Your Mentor jeff bezos 7 Habits You Can Learn From Jeff Bezos and Amazon.com

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    Last Updated on January 13, 2020

    Is It Time for a Career Change? (And How to Make the Change)

    Is It Time for a Career Change? (And How to Make the Change)

    Are you challenged at work? Do you regret career decisions? Are you happy? If the answer to the questions leads to a negative feeling, it is time to determine next steps.

    Many people settle for a career that no longer brings satisfaction. Most will respond by stating, “I am surviving” if a colleague asks them “How’s work?”

    Settling for a job to pay bills and maintain a lifestyle is stagnation. You can re-direct the journey of a career with confidence by taking control of future decisions. After all, you deserve to be live a happy life that will offer a work-life balance.

    Let’s look at the reasons why you need a career change and how to choose a career for a more fulfilling life.

    How to Know if You Need a Career Change?

    The challenges of dissatisfaction in a career can have a negative impact on our mental health. As a result, our mental health can lead to the obvious appearance of stress, aging, weight gain and internal health issues.

    You deserve a career that will fulfill the inner desire of true happiness. Here are common factors that it is time for you to change your career.

    Physical Signs

    Are you aging since you started your job? Do you have anxiety? What about work-related injuries?

    It feels amazing to receive a pay cheque, but you deserve to work in an environment that brings out the best of you. If the work environment is hazardous, speak to your boss about alternative options.

    In the case that colleagues or your boss take advantage of your kindness, feeling the anxiety of fear of losing your job because of a high-stress environment may not be right for you.

    Mental Signs

    One out of five Americans has mental health issues, according to Mental Health America.[1] In most cases, it is related to stress.

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    I remember working at a job in a work environment where harassment was acceptable. I had to walk on eggshells to avoid crossing the line with colleagues. My friends started to notice the difference in that I seemed out of character. It was then that I knew that changing a career to freelancing was the right decision.

    Here is a list of mental signs of workplace unhappiness:

    • The tension in your neck
    • Difficulties with sleeping
    • Unable to concentrate
    • High anxiety
    • Depression

    If you start to feel your self-esteem is diminishing, it is time to consider if working in a high-stress industry is for you. The truth is, this negative energy will be transferred to people in your life like friends and family.

    Are You Sure You’re Not Changing for the Wrong Reason?

    Most people that feel they need a career are frustrated with their situation at work. Do you really understand your current situation at work?

    The reason it is important to think about the work situation is some people decide to change career for factors that are insignificant. Factors that can potentially change if the person works in a different department or new organization.

    Here is a list of unimportant factors to think about before you decide to make the transition:

    Desire for an Increase of Salary

    The desire for a higher income can persuade some to believe they are in the wrong career. The issue with this is more money requires more time in the office or taking on several positions at a time.

    At times, pursuing a high-income role can be the complete opposite of what one is expected. It is what happens when a colleague leaves a company to a new one and returns several years later.

    Overnight Decision

    Let’s face it. We make overnight decisions when stressed out or disappointed with situations at work. The problem with a quick decision is the negative and positive points is overlooked.

    Rejected for a Promotion

    I have heard stories of managers that applied ten times for a position throughout a 5-year period. Yes, it sounds to be a lengthy process, but at times, a promotion requires time. Avoid changing a career if you do not see the results of a promotion currently.

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    Bored at Work

    Think deeply about this point. If you work a job that is repetitive, it is normal to feel bored. You can spice it up by changing the appearance of your desk, socializing with new employees in a different department, joining a leadership committee at work or coming to work with enthusiasm. Sometimes, all it takes is you to change jobs into a fun situation.

    A career change can take time, networking, education and the job search process can be a journey. Here is a list of things to consider before making a final decision:

    • How long have you worked in your career?
    • What is the problem at work? Do you work well with the team?
    • Do you receive recognition?
    • Can you consider working in a new department?

    If after reviewing your work situation and none of the above recommendations can help, then it’s time to make a career change.

    How a Career Change Will Change Your Life

    I have a friend that works in the medical industry. She was once a nurse working directly with patients in one of the top hospitals in her area. After five years, she started to internalize the issues with her patients to the point where she felt depressed after work hours. It impacted her relationship with her family and she almost lost herself.

    One day, she decided to wake up and take control of her destiny. She started applying for new medical jobs in the office. It meant working on medical documentation of patients which is not an ideal career based on what society expects a medical professional to perform. But she started to feel happier.

    It is a classic example of a person that was negatively impacted by issues at work, stayed in the same industry but changed careers.

    A career change can fulfill a lifelong dream, increase one’s self-esteem or revive the excitement for one’s work.

    You know a career change can be the right decision to make if you experience one or all of these:

    • Working in a negative workplace: Don’t be discouraged. A negative workplace can be changed by working at a new organization.
    • Working with a difficult boss: The challenges of working with a difficult boss can be stressful. All it takes is communication. You can address the issue directly with a manager professionally and respectfully.
    • Feeling lost about what you do: Most people stay at their jobs and settle for mediocrity because of the fear of failure or the unknown. The rise to success often comes with working a tedious role or stepping outside of one’s comfort zone. If you fear the idea of being involved in activities that are new, remember that life is short. Mediocrity will only continue to make you feel as if life is passing you by.

    How to Make a Career Change Successfully

    The ultimate key to success is to go through a career transition step by step to avoid making the wrong decision.

    1. Write a Career Plan

    A career plan has a dead line for action steps that includes taking new courses, learning a new language, networking or improving issues at work.[2] A career plan should be kept in your wallet because it will motivate you to keep pursuing the role.

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    You can learn how to set your career plan here.

    2. Weigh Your Options

    If you have a degree in Accounting, write down five positions in this industry of interest. The good news is diplomas and degrees can be used to a variety of roles to choose.

    You don’t have to stick to what society holds a top job. In the end, choosing the right role that will make you happy is priceless.

    3. Be Real About the Pros and Cons

    It is time to be honest about strengths, weaknesses, opportunities and threats in the job market that are impacting the current situation.

    A SWOT Analysis of a career can include:[3]

    • Economic factors
    • Direct competition: Is this role in high demand?
    • Location: Do you need to move? If the goal is to work in tech and living in Cincinnati is not realistic, consider moving to San Francisco.
    • Achievements: To stand out from the competition achievements like awards, committee involvement, freelance work or volunteering is a recipe for success.
    • Education: Do you need to go back to school? Education can be expensive. However, online courses, webinars or self-study is an option.

      A career blueprint is the first step to creating realistic goals. A person without goals will be disappointed without a clear direction of what to do next.

      4. Find a Mentor or Career Coach

      A mentor or a career coach that works in the desired position can share the pros and cons of working in the role. Here is a list of questions to ask a mentor:

      • What is required to be successful in the role?
      • What certification or educational development is needed?
      • What are the challenges of the role?
      • Is there potential for career advancement?

      A chat at a coffee shop with a mentor can change your mind about the desire for a career change.

      Find out how to pick a good mentor for yourself in this article: How to Find a Mentor That Will Help You Succeed

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      5. Research Salary

      Some people decide to change careers for a role that pays less or perks like benefits to make up for the difference in previous to potential salary.

      It can reveal the cities throughout the country that offer a higher salary for those that have an interest in relocating for work.

      6. Be Realistic

      If your goal is to move up into an executive position, it is time to be honest about where you are in your career.

      For example, if boardroom meetings, high-level discussions about financials or attending weekly networking events are boring, an executive role may not be right for you. If you are an introvert and working with people every day is nerve wrecking, you need to reconsider a job in sales.

      Ask yourself if you can work in this role for the next five years of your life. If other benefits that come with the role are enticing, other roles are fit that will make you happy.

      7. Volunteer First

      A person that wants to become a manager should take on volunteer opportunities to experience the reality of the position.

      Becoming a committee member to pursue a presidential opportunity can provide a perspective on leadership, maintaining a budget and public speaking.

      Volunteer in a role until you are certain that it is the right opportunity.

      8. Prepare Your Career Tools

      I recommend asking a boss, colleague or mentor for career tools. If you prefer professional assistance, you can seek out resume writing assistance. Here is a list of things to consider when preparing career tools:

      • Online search: Search your name online to see what shows up. I recommend searching images that are on Facebook, Twitter, Snapchat or other sites on a personal account. The last thing you want to realize is the job search is unsuccessful because there is unprofessional content you posted online.
      • Be LinkedIn ready: Recruiters conduct a LinkedIn search to see if the work experience is the same on a resume. Remember to change the wording on LinkedIn from the resume, or it will appear there was no effort put into creating the profile.
      • Portfolio: A portfolio of work is recommended for people that work in the arts, writing, graphic design and other fields. I recommend a portfolio online and one that is available in hand when attending job interviews or networking meetups.
      • Cover letter: A good cover writer will always impress your potential employers. Here’s how to write a killer cover letter that stands out from others.

      Bottom Line

      It takes time to move towards a new career. Pay attention to the physical and mental signs to maintain your health. You deserve to work in happiness and come home stress-free. If you avoid the common mistakes people make, you will find a job and discover the role in a career field that is the best fit with your skillsets.

      Master these action steps and changing career paths will be on your terms to make the best decision for your future.

      More About Career Change

      Featured photo credit: Pexels via pexels.com

      Reference

      [1] Mental Health America: The State of Mental Health in America
      [2] MIT Global Education & Career Development: Make a Career Plan
      [3] Creately: Personal SWOT Analysis to Assess and Improve Yourself

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