A successful one Companys Setting up a business is not easy, but there are role models. Jeff Bezos is one of them, at least in terms of financial success. How do you emulate him?

Founding & running a successful company like Jeff Bezos: Do it like Amazon

What would jeff do?

In the 1990s, the acronym "WWJD" - "What would Jesus do?" - appeared on stickers and T-shirts in the United States. Variants of this were not long in coming. Scientists asked, "What would Darwin do?", Fans of the rock group "The Grateful Dead" asked, "What would Jerry do?" *

This went on and on, even once I saw a sticker that said, "What would Atticus Finch do?"** You know what I mean. In the last five years, my customers They've always asked their own version of the same question, which is, "What would Jeff do?" When I'm asked that question, it usually means something like, "What does 'digital' actually mean?", "How do I protect mine Company from disruption?", "Will Amazon invade our industry or space?", "How does Amazon achieve such results?", "Would Amazon want me as a partner?", "Would Amazon want to buy our company?", » How can I do my shoppingFeatures as easy as Amazon?” There are hundreds Ask along those lines, but all can ultimately be boiled down to the one question, "What would Jeff do?"

Recognize the patterns of success

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Why do I actually think I could answer even one of these questions? Why do I actually think I could over ideas write that you need to survive in the digital age? Since I left Amazon at the end of 2005, I have had my clients in many different Industries answers to such questions, with the most varied of objectives and for the most varied of conditions. To answer the question "What would Jeff do?" Pattern detect.

And these are the patterns: Jeff Bezos and Amazon have a strikingly consistent way of approaching challenges, Shops to lead and with Technology to deal with, to encounter and with new ideas and markets growth to deal with In other words, there is a playbook or System with convictions and patterns of action for how to achieve results there and how to think about your own company. Once you pay attention, you will also find out how to think like Amazon. Among the many scenarios and examples in this book, you may not find the direct answer to your specific question. But if you take Jeff's general view of the Welt understand, you can apply some of his insights and principles to your situation.

The best attack is even more attack

Why will 80 percent of Fortune 1000 companies be replaced by others in the next ten years? Why are companies at risk of disruption? At the risk of giving an overly simplistic answer to a complex question, my answer is: first, because companies rely too much on their way of thinking, on their patterns and approaches; and secondly, change is really difficult. »Transformation« sounds good, but in truth this is it Concept incredibly difficult to pin down.

In most cases, this grand idea of ​​organizational and business revitalization merely manifests itself in a few short-term projects and endeavors, rather than lasting ones change or to create long-term value. "Companies have a short lifespan, and Amazon will one day become a victim of disruption," Bezos said in a 2013 interview. “I'm not worried about it because I know it's inevitable. companies come and go. Companies that are the most glamorous and important of an era. But if you wait a few decades, they're gone. I'd rather it [Amazon's disruption] happen when I'm dead."

Disruption: Don't cling to old business models

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Companies that do not define themselves by their old models and past successes retain their potential to remain market leaders, they determine the coming era and are able to change and grow in the course of these turbulent times. Cultivating and maintaining this potential requires world-class mental agility. So instead of resting on ongoing deals that are still growing or trying to drive profitability up, Amazon is now investing in initiatives that won't pay off for years, if ever.

The acquisition of PillPack by Amazon in June 2018 is an example that "even more attack is the best attack". PillPack delivers precisely dosed medication to the customer's doorstep, thus creating a customer-centered approach to both packaging and delivery. For those who depend on a lot of medication and either do not want to go to the pharmacy or physically cannot, PillPack is a huge improvement over the other pharmacies. Amazon doesn't have to enter the healthcare market now, but they are taking this relatively small step and feeling their way into this industry. You will find out how you can expand the potential of PillPack and what legal requirements there are for the delivery of pharmaceutical products (potential for pharmacies in Whole Foods branches?). All of this is part of an overall strategy with many niches and business models.

Why should I "think like Amazon"?

Amazon Web Services, AWS, is the largest cloud-based on-demand company. It was also the first. However, this business model did not result from a disruptive one Strategy of destruction by putting an end to the traditional model of hardware, software and licenses. This strategy came later. This business model arose from the need for the retail company Amazon to adapt its data processing infrastructure.

And so it came about: During the 2003 vacation season, we struggled with the reliability of the website during the busiest and most important time of the year. Not good. After we somehow muddled our way through this vacation time, a task force was immediately formed to take care of the scaling and reliability of the website. This Team decided to centralize the data processing infrastructure. We should serve internal customers. Then it was found that there was no demand from internal customers, only from external customers. This resulted in the instruction to reverse the infrastructure and offer it to external customers. We soon find out that the Developer who loved on-demand opportunities. And along the way, the strategy of AWS had developed.

Amazon's leadership principles

Just think about how many business areas Amazon is active in today: retail in almost every imaginable category, in every market, cloud technology, film and television production, publishing, smart speakers, devices such as Echo, Kindle or doorbells, logistics and supply chain , Groceries, over 80 private labels and healthcare. Amazon is a corporate conglomerate that can proudly claim to be entrepreneurial, customer-centric and not very bureaucratic. Each of its business units has external customers and could conceptually be an independent company serving other Amazon entities, as well as other companies and customers. Amazon manages this without getting bogged down in countless layers of bureaucracy, mainly because of its

Of course, "Amazon thinking" isn't just about Innovation. It's all backed by a fanatical, world-class operational arm. Relentless.com was the name Bezos registered for his startup, and the web address still points to Amazon.com. Amazon's attitude towards operational excellence is relentless. Amazon is one of five companies that research and advisory firm Gartner cites as "masters" in supply chain operations. Gartner explains that Amazon is a "bimodal" supply chain company, unique in its ability to both adapt to new business models and develop innovations.

Getting the best out of the company: 3 tips

In 2016, Amazon had over 80 patents in the supply chain area alone! Ability to work in both a world-class manner and a systematic one Innovator being passionate about serving your customers - isn't that exactly what every CEO wants? That's why it's so important to »think like Amazon«. How to Read Do's Like Amazon I've packed 50 ½ ideas into this book. I don't believe so much in massive transformation programs. The path to digitization leads both through change in the company and through change in the individual. You must develop your own path, with changes Method tackle and develop new behaviors.

At the same time, you must be patient and have a sense of urgency. You must be willing to bring out the best in yourself and yours Organization get out. There are various ways to innovate with the help of this text.

  1. Read it as a manager and bring the ideas to your team where they are needed.
  2. Promote team building by reading these texts in your department and discussing a thought from it for a while each week.
  3. Or discuss what ideas from this could be applied.

Set the clock to zero - your path will not be a shortcut or a straight line

"Not all who hike are lost," JRR Tolkien once wrote. If you leave aside the headlines around the world that are highly effective in advertising - what is the "competition" of cities about the location of Amazon's second headquarters about? The "HQ2" initiative is unique in economic history. I attended an interview on CNBC about the characteristics of the different cities that were applying for HQ2. The other two participants in the discussion talked about which location would be the most attractive for the »Selfie« generation, I argued against it that the main focus here was on the long-term risk of Amazon and how one can manage to attract the best technology talents Set and hold the world.

Companies have relocated their headquarters before. Boeing moved its headquarters from Seattle to Chicago in 2001. Some time later, GE moved its headquarters from Connecticut to Boston, Massachusetts. Before that, companies have solicited offers from cities and states for tax breaks to build a new site and create jobs. But she never found it Combination of potential jobs and publicly known offers such an echo in the media. Consider this: the city that wins the race for Amazon wins a far more valuable prize than Chicago did when Boeing moved there from Seattle. HQ2 promises a $5 billion investment, 50 well-paying jobs, expected growth and immediate prestige as the world's leading digital technology hub.

Think and plan for the long term

By taking a long-term view of your strategy and evaluation of your plans, you are able to make investments and "bets" that other companies cannot. Find out what long-term risks and constraints apply to your business. You might find a strategic one Solution for tackling them early. Which Problem Is Amazon trying to fix it now? Is it about the growing concerns of some factions in Seattle about Amazon's local impact? Is it about the tensions with the city of Seattle and the state of Washington? Does Amazon worry about the hazy weather at Puget Sound Bay? Why take all the effort? The question »What is Amazon's true Motivation for the HQ2? «requires a further question:» What is holding back the growth of Amazon in the long term? «I think exactly this question was asked at Amazon, and the most important answer to that was the possibility of attracting talent to the region Bringing and keeping Seattle, especially world-class talent in technology.

Seattle is a wonderful place, but not for everyone. It's far from many places in the world, the time difference with most of Europe is ten hours, and it's not centrally relative to the rest of the United States. The cost of living in Seattle has exploded. According to a report by the NW Reporter, the median price of a home in Seattle has skyrocketed to $777000 In short, a typical home in Seattle costs about $1 more than it did a year ago. Between 100 and 000 the number of Employees at Amazon from a little over 200000 to 541000. At its Seattle headquarters, Amazon estimates that number at around 40000. And expects to maintain, or even accelerate (ugh!), that staggering growth.

Find the right people

How do you think they will attract employees, retain them and at the same time keep their standard of living high? What would most managers and companies do under these circumstances? Some would not even realize the long-term risk that looms like a murky iceberg on the night before their personal Titanic. Many would recognize it and quietly and reluctantly seek short-term solutions. Why not just kick the can down the street to the next generation in leadership? Why should they go through the hassle, bad PR, and tedious management when they've only been in the position for five or ten years anyway? This is a common question in the "Chief" department and upper management. The second Leadership-Principle at Amazon is »Ownership« (entrepreneurship) and it states that Executives Never sacrifice long-term value for short-term results at Amazon. HQ2 is all about that long-term thinking, about tackling an issue through an approach that has many other benefits - rather than waiting until controls are down to zero. With such long-term problem areas of the company, you just don't kick the can to the end of the road.

What I would be happy about is that my text sparked deep conversations and important thoughts in you, that it helped you and your team to face the competition in a new way, and that you enjoyed it. But always make yourself aware: This is a collection of ideas, not a master plan for a strategy or the process of change. You have to develop it yourself, using the unique features of your situation, constraints and opportunities as well as your own talents and ideas.

The 14 leadership principles from Amazon

Amazon has 14 leadership principles. When I was at Amazon, they weren't a formal set of rules; we talked about them every day and applied them when we made decisions. Sometime after I left in 2005, the leadership principles were put in place. The LPs (Leadership Principles), as they are called internally, play a central role at Amazon, because they ensure an even distribution of speed, responsibility, risk and focus on results. You have to be careful not to rely too heavily on just one leadership principle and neglect the others, and you have to apply it carefully.

  1. Customer Obsession - 100 percent customer-oriented
  2. Ownership - entrepreneurship: taking responsibility
  3. Invent and Simplify - invent and simplify
  4. Are Right, A Lot - Make the Right Decision
  5. Learn and Be Curious - stay curious and constantly learn new things
  6. Hire and Develop the Best - hire and develop the best people
  7. Insist on the Highest Standards - apply the highest standards
  8. Think big - think big
  9. Bias for action - act actively
  10. Frugality - cost awareness / targeted use of resources
  11. Earn Trust - build and earn trust
  12. Dive Deep - get to the bottom of things
  13. Have Backbone, Disagree and Commit - clearly communicate disagreement and still support joint decisions
  14. Deliver Results

How Jeff Bezos sees the world: a question of perspective

Jeff Bezos judges things in a time frame that allows him to take a long-term view invest. Sometimes really long term. It's well known that Bezos has close ties to a foundation called The Long Now Foundation. This foundation deals with the increasingly short-term perspective of society. On a property in west Texas owned by Bezos, they built a clock that ticks once a year. The century hand advances every 100 years and the cuckoo comes out only every millennium for the next 10 years.

Needless to say, Jeff loves symbols. The 10000 year clock symbolizes his will to always think big and for the long term to plan – as a company, as a culture and as a world. He once said:

“If everything you do has to work for a three-year horizon, then you're in competition with a great many others. But if you're willing to move toward a seven-year horizon invest, you only have a fraction of the competition because very few companies are willing to do that. If you just stretch the time frame, you can tackle things that you would never otherwise be able to tackle. At Amazon, we want something to be working in five to seven years. We are willing to plant the seed and let it grow - and we are very persistent."

What is a digital company?

How can you apply this to your digitization strategy and competition in the digital age? To do this, we first have to answer the question: "What is digital?"

Most organizations are under pressure to be innovative and digital. That's why I usually start from this basic question. So what does it mean to »be a digital company«? Many companies believe that investments in mobile communication channels, mobile devices and e-commerce are at stake here. Others are Opinions, it is about cloud technology, on-demand capability and APIs. While these are all important tools, that alone doesn't mean you're a digital company. On closer inspection, being digital means two things: speed and agility - towards your customers and the market as well as when working within the company. More precisely, speed and agility wrapped in new business models, innovation and the collection and use of significantly more data. Speed ​​is characterized by a very precise and repeated procedure. So that's an extremely efficient and precise movement in a specific direction. Operational excellence in data scaling is the business equivalent of speed.

The role of agility

Agility, on the other hand, is the ability to perceive key factors, indicators and market shifts and fast make changes and adjustments. Agility is the engine for innovation in your company, the ability to effect change on a small and large scale. Amazon's DNA is defined by these two characteristics - speed and agility. But how do they manage to be world-class in operations and data scaling at the same time, while systematically innovating year after year? And that doesn't just happen once or by accident. For most organizations, that would be like juggling chainsaws on ice skates.

But Amazon created the world's best system of speed and agility by leveraging many of the ideas presented in this book that are written in their leadership principles. If your business is to become a digital company, you need to build these traits in your company and compete in other ways.

Forget quarterly figures

Developing these qualities in your own organization is not a single one Projects. It is difficult to tailor a way to predict the outcomes and it will all be difficult to predict. But you must believe - in the transformative powers of data, technology, innovation and the pursuit of perfection - applied to every workspace.

If you want to be successful, it is vital to plan for the long term. Constant quarterly thinking over the knee, typical of most American businesses, is not only inefficient, it is toxic to your culture. Free yourself from this thinking! If you consider digitization to be a short-term measure or believe that you will benefit from it within a very short time and get the corresponding results, then you have not understood which path you have taken here, and then you do not have the patience and the support to walk it until it bears fruit.

A question of passion: mercenary or missionary - what drives you

Your most important task as an entrepreneur: develop a strategic and authentic obsession »Man is made in such a way that when his soul burns for something, nothing is impossible.« Jean de La Fontaine once wrote. In first grade, I had a friend who knew he wanted to be a surgeon. Not just a doctor, no, a surgeon. And he became one. I have always been envious of the certainty and clarity with which he pursued his mission. How do you create passion and develop a mission if the path isn't clear from the start clear is? I asked myself this question and I ask it to leaders. Then I tell them maybe it exists Art of leadership is to discover the passion of each individual and ways to find, to apply the strength of each individual to the mission of the organization and to derive value from it.

A colleague of mine once defined a mercenary as someone who functions like a coin-operated machine. By that he meant the only thing that interested mercenaries was Money. That's a bit far negative occupied. If you want to build a strong culture, you probably don't hire a bunch of mercenaries. Ultimately, financial gain and sales are result numbers. As a manager, you have no direct Control about it. They are the result of many other things that you do. But what you do have control over is the input. To get into the digital Economy successfully to be, you need to be closely connected with your customers and users, because that's where it lies Background.

Surviving dry spells through passion

We start our development towards speed and agility by talking about customer obsession. That's what Amazon started with. The most important key questions are:

  1. What are the long-term risks for your industry and your company?
  2. What does the term "digital company" mean for you?
  3. Is this definition also represented at the management level of your company and is it the basis for the strategy?

When I look back on my own career, it becomes clear that my main interest has been in improving company performance through three approaches:

  1. Efficiency, that is, creating processes that produce better quality at lower cost,
  2. Integration of processes, data, systems and ecosystems to enable seamless work, and
  3. developing new business models and skills that will set the company apart from the competition.

Let me conclude with this: You will survive dry spells if you stand behind the cause and the customer with passion. Persistent Communication The corporate mission will engage the "moderately interested" majority of employees in most organizations and turn them into fans of your company, for the success and for the mission. It's already in OrderHaving other priorities, such as being able to pursue personal passions, gaining power and influence, or financial security. For many business models, professional careers and life plans, these things are probably the proof of success.


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