Amazon founder Jeff Bezos talks about how to increase the value of your business

In a conversation between Amazon co-founder and chairman of the board

Jeff Bezos and computer scientist Rex Friedman , Bezos talked about ways to increase the value of his business.

Lessons on building business value

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In his conversation with Friedman, Bezos said, ``Treat every day's work as if it were your first day.'' According to Bezos, there is a lot to think about on the first day, so you can get a fresh start. He also advises that while it is important to set daily goals, one should not be bound by one's own doctrines, beliefs, or history.

Bezos went on to point out, ``Some companies rely on metrics that they don't fully understand.'' Mr. Bezos used `` metrics '' as an example, saying, ``Metrics are not indicators of truth based on actual facts, but are instead a substitute for expression.''

Additionally, it has been pointed out that if metrics are not understood or optimized, they can be difficult to represent properly when trying to graph them. Mr. Bezos advised, ``When you try to manage your business using metrics, you end up missing something or overcomplicating things.''

Mr. Bezos pointed out that companies and teams need to find appropriate ways for employees and members to speak up. It is possible to overturn the opinions of the members.' Regarding the specific method, Mr. Bezos says, ``The order of speaking at meetings should be from the youngest to the youngest.''

According to Mr. Bezos, when data obtained does not match past experience, what is obtained from experience is usually correct. Therefore, just like any metric, you need to thoroughly analyze your data.

Bezos also recommended, ``If you have customers complaining about something, but a metric shows the opposite, it's important to reposition the metric with the right data.'' I am.

In addition, Bezos argues that businesses should identify what is stable and spend more time improving them. Bezos gave a specific example: 'Retail customers will expect lower prices, fast and seamless delivery, and a wide selection of products in 10 years' time.'

Mr. Bezos points out that an important thing to remember when holding a meeting is to ``distribute documents during the meeting.'' This is because all participants will be reading the document during the meeting, so everyone will have the same starting point. Mr. Bezos also argued that ``the document creator should be the first to answer questions from the participants.''

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