Zero to USD1.7 Trillion: Amazon's 4 Core Principles

Happy 27th birthday Amazon!

Besides celebrating 27 monumental years as a behemoth in the world of business today, Amazon's CEO Jeff Bezos will also step down and assume the role of Executive Chairman, handing the reigns over to cloud-computing boss Andy Jassy.

Jeff Bezos has always communicated these 4 core principles since founding Amazon, and I would like to share them for all aspiring entrepreneurs or seasoned business leaders. I'm sure there's something we can all learn from. In his words:

Principle #1: Customer Obsession

"Have customer obsession instead of competitor obsession. Customer obsession reminds teams to start with the customer’s needs and work backwards."

Principle #2: Eagerness to Invent

Amazon loves to pioneer. "Whenever we have tried to do something in the me-too fashion,?we have failed at it," he says. "We need to have something that is differentiated and unique - something that customers are going to like."

Principle #3: Long-term Thinking

"We are willing to take some time and be patient with the business initiatives that run through everything we do," Bezos says. "I've seen many small-business owners jump in too deep, only to cause a?financial disaster?and delay to their company's growth. If you are challenged in the focus department, create an accountability system by hiring a coach or working with a group of peers."

Principle #4: Operational Excellence

According to Bezos, "Operational excellence implies two things. Delivering continuous improvement in customer experience and driving productivity, margin, efficiency, and asset velocity across all our businesses. Systems and processes are not always top of mind but they save time, money, and in many cases, your reputation. I've heard countless entrepreneurs say they don't have the time to document. Your lack of time is likely caused by the fact that you and your employees constantly recreate the wheel and fly by the seat of your pants. Why not schedule a few hours to contemplate how higher-level thinking and the development of systems and processes would benefit your company? The longer you delay, the more difficult change becomes."