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Jeff Bezos, the founder of Amazon, has a clear and straightforward philosophy regarding what senior executives should focus on: making a small number of high-quality decisions. This approach is a cornerstone of Amazon’s success and offers valuable insights for leaders in any organization.
Photo: Saul Loeb | AFP | Getty Images
Focus on the Future
Bezos emphasizes that senior executives should not be bogged down by the daily minutiae. Instead, their role is to look ahead, focusing on the future. He states,
"As a senior executive, you get paid to make a small number of high-quality decisions. Your job is not to make thousands of decisions every day."
This means that executives need to be strategic, thinking two to three years ahead rather than getting caught up in the current quarter.
This forward-thinking approach allows executives to steer the company towards long-term goals and innovation. For example, the development of Amazon Web Services (AWS) was a forward-looking decision that has become a significant part of Amazon’s business. By anticipating future needs and market trends, senior leaders can position their companies for sustained success.
Quality Over Quantity
Bezos’s philosophy underscores the importance of decision quality over quantity. He believes that making a few well-thought-out decisions each day is far more valuable than making numerous hasty ones.
"Why do I need to make 100 decisions a day? If I make three good decisions a day, that's enough. They should just be as high-quality as I can make them," he explains.
This principle is echoed by Warren Buffett, one of the most successful investors of all time. Buffett famously spends a significant portion of his day reading and thinking, rather than making frequent decisions. He once said,
“The difference between successful people and really successful people is that really successful people say no to almost everything.”
This focus on high-quality decision-making allows leaders to prioritize what truly matters and make informed choices that drive long-term value.
Case Study: Apple’s Product Strategy
A practical example of this philosophy in action is Apple’s approach to product development under Steve Jobs. Jobs was known for his ability to focus intensely on a few key products. By prioritizing quality and innovation over a broad range of offerings, he was able to create groundbreaking products like the iPhone and iPad. Jobs once remarked,
"I'm as proud of what we don’t do as I am of what we do."
Apple’s strategy of making a few high-impact decisions has resulted in products that have revolutionized industries and consistently driven the company’s growth. This approach demonstrates the power of focusing on quality rather than quantity in decision-making.
Living in the Future
Senior executives, according to Bezos, should live in the future. They need to anticipate market trends, technological advancements, and changes in consumer behavior. By doing so, they can guide their companies to innovate and stay ahead of the competition.
Elon Musk, the CEO of SpaceX and Tesla, embodies this futuristic mindset. Musk’s vision for space travel and electric vehicles was far ahead of its time, and his decisions reflect a deep understanding of future possibilities. Musk’s ability to envision and work towards long-term goals has been a driving force behind the success of his companies.
Conclusion
Jeff Bezos’s advice for senior executives is clear: focus on making a small number of high-quality decisions and look to the future. This approach not only ensures that leaders prioritize what truly matters but also positions their companies for long-term success. By emulating this philosophy, executives can drive innovation, navigate challenges, and achieve sustained growth.
In the words of Peter Drucker, a renowned management consultant, “Management is doing things right; leadership is doing the right things.” By focusing on high-quality decisions and future-oriented strategies, senior executives can lead their organizations towards a prosperous future.
Listen to Jeff Bezos: