Do you know what is the secret to be a successful person? Well, there is plenty of it and being able to take better decision faster is one of them.
Get the lesson on how to be a successful person and a successful company from those who already on top, such as Jeff Bezos, Amazon founder.
Jeff Bezos decided that Amazon should be a Day 1 Company. What is that?
Day 1 Company holds the value of a startup. What does that mean? It means that Amazon, no matter how big it was or how many years have passed since it starts it business must have the spirit and agility of a startup.
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This is how Day 1 Company works:
- High-speed decision making.
People who wait too long to make a decision will be missing thousand of opportunities and they will get stuck in one place while others have already accomplished so many things. In the business world, it means you let other competitors take your place. Jeff Bezos said that making a decision based on 80% of confidence is enough. Do not wait for 100% confidence before doing something, which is way too long.
- Practice 4C leadership
A successful company practices 4C leadership method; creating, collaborating, changing, and challenging. It is not about command and control. This is about creating a culture where everyone will learn it all. There is no such thing as “know it all”, because everything is always changing, which means everyone in the company needs to work on optimizing the present and prepare the business to face the future.
- Get rid of ineffective habits
Day 1 Company will never incorporate ineffective habits such as bureaucracy, out-dated practices, and everything else that will kill innovation. Many companies are stuck and unable to move forward because they let bureaucracy standing in the way of innovation.
- Embrace failure
Failure is acceptable. The fear of failure and the fear of mistake make people hesitate to do anything. It is better to try and fail than not trying at all. Failure will bring new knowledge that will help a person to learn, grow, and move forward. Do not hesitate, and the most important thing of all, learn from the mistake and move on.
- Anticipating change
Remember that nothing is static in this world. Everything is always changing. Anyone and any company who wished to succeed must be able to anticipate the change before it turns into a crisis. That is what everyone and every company must do. They must prepare for the future and never allow things such as status quo.
Day 1 Company runs their daily life based on those principles. That is what Jeff Bezos do with Amazon and look at the result. Amazon is one of the biggest companies in the world right now and it is still going strong. Why? Because they treat every day as a new day, where innovating is the norm, and where they practice high-speed decision making to stay ahead their competitor.
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