I read every annual letter Jeff Bezos published at Amazon.

It's a masterclass on strategy & leadership.

11 critical insights from a legendary leader:

1/ Move Fast

Bezos understood the importance of moving quickly.

Especially as Amazon grew.

To survive as a large company, you have to move at the pace of a startup.

If not, you'll die.

2/ Don't Sweat Reversible Decisions

Some problems require long thought and deliberation.

But many don't.

If a decision is easily reversible, Bezos thought they should be made quickly by "high judgement individuals or small groups."

3/ Stay Terrified... Of Your Customers

In the 1998 letter, Bezos remarked that it was Amazon's customers and not competition that should be feared.

He understood that Amazon was providing a service.

Amazon to this day has unmatched service to their customers.

4/ Focus On Inputs

Amazon constantly focused on things that they had input on.

-# of products available
-# of items available for Prime shipping

The focus on the inputs (what Amazon could control) led to the outputs Wall Street looked for.