In his letter to his shareholders, Amazon CEO Jeff Bezos explains what he believes are the core tenets of Amazon’s stellar success.
Recounting a story where someone asked Bezos “what’s Day 2 like”, Bezos talks about how Amazon has always been a “Day 1” company for decades. He also attributes Amazon’s obsession with customers as being pivotal for the company’s success and that “Staying in Day 1 requires you to experiment patiently, accept failures, plant seeds, protect saplings, and double down when you see customer delight. A customer-obsessed culture best creates the conditions where all of that can happen.”
For the second richest man in the world, “Day 2 is stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death. And that is why it is always Day 1 (at Amazon).”
The infographic below summaries some of the key points which he highlights as essentials in defending the company against “Day 2”.
Read the full letter here.
Amazon CEO Jeff Bezos is now the second richest man in the world, Business Insider 29 March 2017
Amazon 2017 Annual Meeting of Shareholders, Amazon, 12 April 2017