Liroyen Advisory’s Post

Jeff Bezos, on a frequently asked question of, ‘What is going to change in the next ten years?’ answers by saying, ‘What is not going to change in the next ten years?’

#decisionmaking by #jeffbezos consists or reversible and irreversible decision.  Take fast reversible decisions even if you lack lot of the required info.  Take irreversible decisions more deliberately and when you have at least 40% of required info (but not more than 70%). #business #success

Great framework for effective decision making.

At the next meeting you’re leading, try a version of what Jeff Bezos does. 1.   Require anyone who is requesting resources or a decision be made, to put their specific request in writing and distribute to attendees prior to the meeting. 2.   Include justification for their request including a cost/benefit analysis if appropriate. 

Fantastic! Be more agile, be more flexible and you will find more decisions are in fact 2-way doors. Then embrace the model of "I would rather be fast and wrong, than slow and right". Enables decisiveness, agility and mobility. Were you wrong? Then accept it, change it, move again. I have seen no thing kill success better than paralysis of analysis.

I'm always amazed at the quality of Jeff Bezos' analogies. Take a look at how he compares short-term and long-term thinking from the 2003 letter:

𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗰𝗮𝗻 𝗯𝗲𝗰𝗼𝗺𝗲 𝘃𝗲𝗿𝘆 𝗿𝗲𝗮𝗰𝘁𝗶𝘃𝗲 𝗯𝗲𝗰𝗮𝘂𝘀𝗲 𝘁𝗵𝗲𝗿𝗲 𝗮𝗿𝗲 𝗺𝗼𝗿𝗲 𝘁𝗵𝗿𝗲𝗮𝘁𝘀 𝘁𝗵𝗮𝗻 𝘄𝗲 𝗰𝗮𝗻 𝗵𝗮𝗻𝗱𝗹𝗲...𝗺𝗼𝘀𝘁 𝗻𝗲𝘃𝗲𝗿 𝗺𝗮𝘁𝗲𝗿𝗶𝗮𝗹𝗶𝘇𝗲 𝘀𝗼 𝗶𝘁'𝘀 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗮 𝗺𝗲𝘁𝗵𝗼𝗱𝗼𝗹𝗼𝗴𝘆 𝘁𝗵𝗮𝘁 𝗮𝗹𝗹𝗼𝘄𝘀 𝘆𝗼𝘂 𝗮𝗹𝗹𝗼𝘄 𝘁𝗵𝗲 𝗻𝗮𝘁𝘂𝗿𝗮𝗹 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝘁𝗼 𝘂𝗻𝗳𝗼𝗹𝗱. This will put some time back in your day - as an owner, you have to proactively pay attention to the future vision everyday.  You want the future vision to be more familar than the current urgencies. Beginning with the end in mind creates a frame for you to filter your decisions through your vision - that vision should include a leadership team aligned with your vision.

In today's world, self-doubt is more common than ever, especially when we're constantly surrounded by the success of others. It's easy to feel discouraged when it seems like our own achievements pale in comparison. But remember: everyone starts from zero. Take Jeff Bezos, for example. In 1994, he launched Amazon from a simple, bare-bones office—just four walls and a desk. What brought Amazon to where it is today wasn't instant success, but years of experience, relentless hard work, and perseverance. When you compare yourself to others, keep in mind that you're only seeing the tip of the iceberg. The failures, the struggles, the countless hours of effort—those remain hidden from view. Draw inspiration from others' stories, but don't lose sight of your own journey. Your path is unique, and every step you take is bringing you closer to your goals. Remember, the greatest successes are built on small, consistent steps. Take pride in where you are now and know that your future is in your hands. What you're experiencing today is shaping the person you will become. Stay patient, stay determined, and believe that your story will be a success too. Your story is just beginning. The world is waiting to see what you'll achieve. #Motivation #SelfConfidence #GrowthMindset #PersonalDevelopment #Inspiration

PREDICTING THE FUTURE : Jeff Bezos once remarked that one of the often asked questions he gets is that “ what’s going to change in the next 10 years ? “ And he almost never gets the question : what’s NOT going to change in the next 10 years ? Bezos goes on to say that according to him , the second question is more important of the two ! As Naseem Nicholas Taleb says so wisely : INVEST IN PREPAREDNESS , NOT IN PREDICTION #change #managingchange #futurepredictions #futuretech #leadershiplessonswithArnab #preparingforthefuture

For those of you struggling with growth and innovation, you can take note and follow these steps below from Amazon founder and CEO Jeff Bezos. Amazon stock rose 80% in 2023. #growth #innovation #change #leadership