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14 Jeff Bezos Quotes That Show Why Amazon's Boss Is A Total Geniushttps://www.businessinsider.in/14-jeff-bezos-quotes-that-show-why-amazons-boss-is-a-total-genius/on-complacency-a-company-shouldnt-get-addicted-to-being-shiny-because-shiny-doesnt-last-/slidelist/24104410.cms2021-07-26T12:46:55+05:30

14 Jeff Bezos Quotes That Show Why Amazon's Boss Is A Total Genius

Jul 26, 2021, 12:46 IST

On complacency: "A company shouldn't get addicted to being shiny, because shiny doesn't last."

On innovation: "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."

On progress: "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."

On developing company culture: "Part of company culture is path-dependent—it's the lessons you learn along the way."

On new ideas: "There'll always be serendipity involved in discovery."

On haters: "If you never want to be criticized, for goodness' sake don't do anything new."

On motivation: "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."

On choosing friends: "Life's too short to hang out with people who aren't resourceful."

On morals: "The one thing that offends me the most is when I walk by a bank and see ads trying to convince people to take out second mortgages on their home so they can go on vacation. That's approaching evil."

One strategy: "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."

On growth: "All businesses need to be young forever. If your customer base ages with you, you're Woolworth's."

On pivoting: "If you're not stubborn, you'll give up on experiments too soon. And if you're not flexible, you'll pound your head against the wall and you won't see a different solution to a problem you're trying to solve."

On marketing: "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."

On pricing: "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."

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