10 key learnings I took down from 'Amazon Unbound' (Part 3/3).

Amazon Unbound is a classic by Brad Stone, which gives a third-party perspective on the invention of a Global Empire coupled with supportive insider stories of what really goes inside a company such as Amazon. With 461 pages of incredible insight, the book comprises of 3 parts, which I too would share my notes in 3 separate newsletters for ease of comprehension. Here is part 3/3. In case you missed part 1 & 2 take a look at the newsletter here

1. Find a durable advantage When Amazon was facing an issue, Jeff instructed the senior team "Find us a durable advantage". It's essential that at junctions of our growth, we don't just build basic advantages over our competitors, but a durable advantage.
2. When finalizing a business strategy, list out At one point Amazon was finalizing a plan. The plan prepared by the senior team included a list segmented under 'not viable' 'hotly debated' and 'top tier'. Such segmentations assists the management to have a holistic view and make effective decisions.
3. No matter how big you are, you need social license to operate During the period Amazon was looking to set up it's HQ2, it faced much backlash from potential cities due to certain reputational and behavioral issues the brand faced.
4. When you're criticized. first look in a mirror and decide are your critics right During a period the brand was gaining much backlash due to certain concerns, Whilst Jeff instilled a type of combativeness in his communication team, he also instilled the importance to be balanced when approaching a critic.
5. Build skills that money can't buy Other than his usual set of skills, Jeff was known to have 'Prophetic invention'. What skills are you building?
6. Customer is not king, customer experience is At Amazon customer experience took absolute precedence over any business relationship or incremental boost to the balance sheet.
7. Doesn't matter how big you get, you can use a hand to improve During an interview with an employee of Amazon he described the company as a Potemkin village, and as a dysfunctional culture concealed beneath an industrious fa?ade.
8. A leader communicates a clear vision The welcome letter for the 'Blue origin' employees written by Jeff read 'Don't jus build a space vehicle, build a company that builds space vehicles"
9. If it's worth it, acquire a suitable company and build a tactical advantage Amazon was facing a major obstacle in it's surging variable labor cost in their fulfillment centers. The leadership navigated effectively and acquired 'Kiva Systems', a robotic startup and managed to convert their problem into a more predictable fixed investment.
10. At times it's alright to let go and allow your subordinates to operate completely autonomously Jeff was known to often allow the acquired companies and their CEO's to operate independently. He preferred to learn from their experience and harvest the data and business lessons that emerged.

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