Motivation Mondays #2: Go Long Leadership with Jeff Bezos, Amazon Founder
Amazon has a long-term vision. They think in 7 year terms instead of 10 years
Wisdom from Jeff Bezos:
- At Amazon we like things to work in five to seven years.
- We say we’re stubborn on vision and flexible on details.
- If everything you do needs to work on a three-year time horizon, then you’re competing against a lot of people.
- If you’re willing to invest on a seven-year time horizon, you’re now competing against a fraction of those people, because very few companies are willing to do that.
- Just by lengthening the time horizon, you can engage in endeavors that you could never otherwise pursue.
- We’re willing to plant seeds, let them grow—and we’re very stubborn.
Jeff Bezos says, "I very frequently get the question":
- 'What's going to change in the next 10 years?'
- It's a very common one. I almost never get the question:
- 'What's not going to change in the next 10 years?'
- And I submit to you that that second question is actually the more important of the two, because you can build a business strategy around the things that are stable in time.
- In our retail business, we know that customers want low prices, and I know that's going to be true 10 years from now.
- They want fast delivery; they want vast selection.
- It's impossible to imagine a future 10 years from now where a customer comes up and says:
- 'Jeff I love Amazon; I just wish the prices were a little higher,' or 'I love Amazon; I just wish you'd deliver a little more slowly.' Impossible.
- So the effort we put into those things, spinning those things up, we know the energy we put into it today will still be paying off dividends for our customers 10 years from now.
- When you have something that you know is true, even over the long term, you can afford to put a lot of energy into it.
If you found this post useful, follow me on twitter and you may want to see Part 1.
Check out what Bill Gates and Mark Zuckerberg has to say about long term vision.