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.