Recently, Jeff Bezos took to a stage in front of a packed audience to give business tips to a room of hopeful businesspeople.
When it comes to getting business advice, you would be hard pressed to find a better tip-dispenser than Jeff Bezos. As the CEO of Amazon, Bezos is currently holding down the spot as the richest person in the world with a current net worth of approximately $153 billion US dollars.
The 55-year-old businessman appeared at Amazon's re:MARS conference last week for a speaking engagement. re:MARS is Amazon's new AI-based program. The program focuses mainly on machine learning, automation, robotics and space.
For tech-oriented entrepreneurs, getting the chance to pick Amazon CEO Bezos' brain was the chance of a lifetime. Read on and you just might find some of the billionaire's tips a bit surprising.
According to Fox Business, as soon as Bezos took the stage in the Las Vegas venue, he was asked what advice he would give to people who are thinking about starting their own businesses. Bezos replied, "If you want to be an entrepreneur, the most important thing is to be customer obsessed. Don't satisfy your customers. Figure out how to absolutely delight them. That is the number one thing... whoever your customers are."
He went on to say that passion is a key quality that businesspeople must possess. Bezos insisted that excitement for the field the entrepreneur is going to be working in is essential because it's highly likely that the entrepreneur will be going up against someone else with their own similar plan and if they don't have passion but their competitor does, that's the entrepreneur who will be able to offer better products and services.
One surprising element to Bezos' speech involved failure. He stated that "we should all be failing." Bezos explained that taking risks is very important in the world of entrepreneurship.
"If you come up with a business idea and there’s no risk there, it’s probably already being done," Bezos said after telling the crowd that accepting that a new business is an experiment and might fail which is perfectly fine and normal. “That’s what risk is. The good news is that Amazon we still take risks all the time. We encourage it. We talk about failure."
Bezos' point is that failures have only helped Amazon, which started as a simple online bookstore, boom into the growing giant that it is today. We certainly can't argue with the results!
What do you think of Bezos' words of wisdom? Let us know in the comments!