Walter Isaacson is a history professor at Tulane University. He was the chairman of CNN and the editor of TIME magazine. Our website offers a free download Invent and Wander Pdf
|Name||Invent and Wander The Collected Writings of Jeff Bezos|
|Publication||Harvard Business Review Press|
Summary of Invent and Wander and PDF Download
In 1994, Jeff Bezos leaves his secure job as a hedge fund manager in New York to open an online bookstore in Seattle 1999. Amazon.com is now worth $30 billion, and Bezos has been named “Person of the Year” by TIME magazine. Amazon stock plummeted from $106 to $6 per share between December 1999 and October 2001.
In the biographies of Steve Jobs, Albert Einstein, and Leonardo DaVinci, Isaacson asks, “What authentic person do you most want to write about?” His reaction is Jeff Bezos. He claims that although “Davinci, Jobs, and Einstein were all very intelligent,” it isn’t what set them apart. Smart people abound, but they seldom amount to much. What matters is that you stand out and be creative. That is what distinguishes a great innovator. As a consequence, Jeff Bezos is my answer to the question.
Because of three primary subjects, Bezos is regarded as a great inventor. These principles have permeated Amazon’s culture, culminating in the development of online commerce, cloud computing, and smart home devices.
Keep a Day One Mindset
Let’s pretend you’ve lately left your job. And today is your first day on the job at a new company as a full-time employee. Your mind is racing with ideas, and you’re seaming with energy and enthusiasm to meet your customer’s expectations.
You will have the energy and motivation to try new things, iterate, and improve continually if you treat each day as if it were the first day of your entrepreneurial career. Bezos has followed a one-day-at-a-time approach for the last 27 years. He recalls the day he quit his job in New York and went to Seattle to establish Amazon every morning, and he tackles his work with the same enthusiasm and drives.
Most corporate CEOs lose the day, one attitude at a time, after becoming wealthy and leapfrogging their competitors. Bezos, on the other hand, didn’t miss a beat when Amazon became profitable and started to surpass its competition. He just had one attitude since he was completely focused on the customer. Customers are consistently, deliciously dissatisfied, and their complaints are consistent without basis.
Even when customers profess to be content with a company’s rating, even if they are unaware of it, they want something better. And a constant desire to serve customers drives us to always develop on their behalf. Because customers are pleased for about a day, Bezos and his team have a fresh opportunity to trial new ideas and build the Amazon customer experience innovation culture.
Take a Three-Year Approach
Bezos takes a three-year perspective of the company’s prospects and restrictions, and by doing so, he’s been able to take wise risks and optimize innovation. Few people even knew what the internet was when Bezos began Amazon in 1994. Basal discovered, however, that the worldwide web was growing at a rate of 2300 percent each year, implying that a successful online corporation would see a deluge of customers in three years.
As a result, he compiled a list of potential online items, selected books, and methodically constructed his online company. When Amazon’s shares plummeted by 90%. Bezos took a step back and examined the company’s internal statistics, which showed that everything was on the rise. As a consequence, he ignored the experts who predicted Amazon’s doom and the short-term projections. Amazon Prime didn’t make sense from a one-year perspective.
In three years, the membership will be made up of both high-volume and low-volume shippers. While Elon Musk and Space X was attracting all of the attention in the space business, Bezos addressed workers at a space firm in blue. The tortoise is a better choice than the hare. To forcefully sear her step by step today, remember the Latin phrase, grit Adam.
It may surprise you to find that Bezos doesn’t work 100-hour workweeks or make 100-critical decisions every day. After three years, Hazel believes that a few high-quality hours of work and a few high-quality selections will suffice. As a consequence, Bezos recommends getting eight hours of sleep every night. So, in the morning, we can think clearly and make just three high-IQ decisions with long-term consequences. When you take a three-year view, you’ll stop worrying about the 30 things on your to-do list and the 20 decisions you need to make today because only a few tasks and decisions will have an impact on your life three years from now, and a single loss or failure will seem less devastating because you know if you stay patient and keep going.
One loss or failure three years from now will be irrelevant; three years seems to be the optimal length of time. Three years is a large enough time horizon for short-term noise to be filtered out. However, it is short enough to predict what will be important in three years. Consider what will not change when predicting what will be relevant in three years.
Amazon customers, Bezos predicted, will constantly want lower prices, quicker delivery, and a larger assortment. As a consequence, he focused all of his efforts on those problems, forsaking his short-term profit-driven innovation approach.
Fail in an Appropriate Way
And if you know something will work ahead of time, it’s hardly an experiment. Most large companies like the idea of innovation but aren’t willing to put up with the string of failed attempts that comes with it. Amazon is a massive organization that is constantly producing, thanks to Bezos’ focus on expanding Amazon’s blunders.
The more money Amazon earns, the more innovative things and services they’ll have to look into as the company grows. Amazon is doing something right if they aren’t making multibillion-dollar blunders. Bazell astonished the world by developing a powerful technology corporation by funding expensive technical product failures. The fire phone was the most well-known failure, but the third was a fortunate failure in that it allowed Amazonians to develop the skills needed to build an echo.
Alexa Bezos, on the other hand, can keep a pro-failure mentality by maintaining a youthful interest and leading a regret-free lifestyle. He goes on to say that he hopes to have as few regrets as possible by the time he’s 80. And the bulk of our regrets or omissions stems from our failure to choose the less frequented paths.
The things that will torment us, in the end, are maintaining a day, one entrepreneurial spirit, a three-year view, and failing appropriately. As a consequence, ensure that the size of your trials grows in lockstep with you. A disastrous execution results in a disastrous failure. A good failure is a failed experiment that teaches you something important about experimentation and creativity.
If you follow those three criteria, you’ll start to think more like Jeff Bezos, a true innovator, and you’ll be willing to go above and beyond to create products and do work that has a positive impact on people’s lives.