Amazon founder Jeff Bezos is often left out of the limelight, but his management methods, which have turned a startup into the largest e-commerce store, deserve the attention of entrepreneurs. See some of them presented by marketer and author Neil Patel in his blog.
The rule of two pizzas
The entrepreneur seems to stick to his teams working in small, autonomous groups. The rule of two pizzas means that these groups must be small enough to be able to eat two pizzas, ie. to be between 5 and 7 people.
The more people work together, the less likely they are to become less efficient, which leads to a waste of resources and time.
Think long term
If you need to know anything about Bezos, it is that he thinks long-term. Once asked about Amazon’s revenue growth, he couldn’t even remember the exact percentage – something very rare among CEOs. “I am thinking of the next few years. I have already forgotten these figures, “he commented at the time.
Its e-commerce site has been around since 1994. Do you remember what computers were like then? Bezos knew that people would buy a lot of them in the future, and he said those were some of his most difficult days. He was then trying to raise $ 1 million to launch his company. He talked to a total of 60 investors and won only 22 of them, but received only 50 thousand dollars.
The task was difficult because then people had no idea what the Internet was and in most cases, this was their first question.
Be persistent and flexible
“We are persistent in the vision. We are flexible in the details, “Bezos told Amazon. This is about sticking to the vision and flexibility in tactics. For him, this is challenging, as it is important to know how to balance the two.
“If you are not persistent, you will give up experimenting very soon. And if you are not flexible, you will hit your head against the wall and you will not see a different solution to a problem you are trying to solve, “said the entrepreneur.
Identify and eliminate the risk
What do we often hear about entrepreneurs? That they love risk! However, according to the founder of Amazon, the best do not like the risk and try to eliminate it.
Starting a company is risky in itself … Then you need to systematically consider the risk and as the company grows you start taking risks, but at the beginning, many people say “okay, I have a good idea how to reduce the risk”, he declares.