Decision making is one of the most important factors in having a successful life. A major reason why some people are successful is that they make better decisions than others. Jeff Bezos is one of such people and he has made a lot of money from the biggest bets he has made in the last few decades.

“Why learn from Jeff?” you may ask.

Well, he is currently the wealthiest man in the world with a net worth of close to $172 billion dollars from owning a 12% stake in his company Amazon (AMZN). He owns roughly 57 million stocks and the value of these stocks has skyrocketed during the pandemic.

If you missed the most expensive divorces in history, know that Jeff gave his ex-wife $38.3B in a divorce settlement



To live a meaningful and purposeful life you need to improve your decision-making skills. Who better is it to learn from in not the wealthiest man in the world?


These four steps will assist you to make decisions like Jeff.

1. Carefully review all the information and go all in.
Jeff had a high paying job on Wall Street but got attracted to the internet because of its high growth rate and the interest of his line manager at D. E. Shaw. He then decided to continue to observe the information about the growth of the internet and realized that it was exponential beyond belief. With a resolute mindset and $100,000 cash investment from his parents, he quit his job, packed his stuff, and moved with his wife to begin Amazon.

Whenever you want to make a critical decision, you need to get all the proper information necessary then go all in. If you are only partly invested in an idea, a business, or a job, it would show. When you know what is at stake and you put all your effort into it, you will definitely get great results. However, the first thing you need to do is to actually review all possible information.

Do not use your natural bias to make decisions.

You need to make an informed decision every time, which means you would need to have various credible sources to review the available information. You might also have conversations with people that have ample experience to understand the effect of the information you have consumed.

2. Focus on What is important, not what other people say.

When he was making a decision to begin Amazon many people felt it was crazy to leave a well-paying job on Wall Street but he focused on what was important to him which was the information he had received and understood.

Also, when he was looking to expand Amazon from just books to carry other products, most of his staff didn’t understand why they will leave their ‘core’ but he understood that there was a bigger market and selling books was just a way to enter the market.

Most times people might not understand why you are making your decisions but because you have looked at the numbers, spoken with experts, and have a clear vision, it’s easier for you to make those critical decisions.

It was also necessary for Jeff to focus on his customers more than his competitors because he knew that the more his customers were involved in purchasing from Amazon, the higher their market share. That was one of the reasons he was able to think about creating a program like Amazon Prime which brings about 30% of their revenue from the web platform. Kindle and Alexa were other products that seemed “unnecessary” at the time but eventually became huge revenue earners.

3. You will not get it right all the time.

It is almost impossible to make the right decisions at every single crossroad. What you need to do is to make more right decisions than you make the wrong ones.

This means that you don’t need to beat yourself up when you make a wrong call. All you need to do is to review what went wrong and learn from the lessons.

Once you understand this, you will not take it so hard on yourself and you would not be crippled by fear when making decisions in the future. You’ll just realize it is a part of the process you have to go through to get to success.

4. Create a system that works for you.

The system Jeff created is quite amazing.

He ensures he makes about three to four critical decisions a day early in the morning and doesn’t work past a particular period of time. He also tries to get as much sleep as possible now at least eight hours of sleep a night. (I can imagine when Amazon was a growing company, he would have burned the midnight oil but now that he is at the helm of affairs of a behemoth, he needs to be sharp with his thinking)

His schedule is such that he has his critical meetings earlier in the day when his brain is still sharp and focused.

His system also allows him to relax with family or friends to ensure that his mind is clear and prepared for the next day


P.S:

Jeff has a deep-throated croaky laughter that many find annoying. He does, however, share this laughter without feeling awkward. Many people say they get used to it with time. I am sure he is just excited that he is laughing to the bank. COVID-19 has increased his net worth and this is just the beginning.

It’s true!



4 KEY TAKE OUTS THAT WILL ENABLE YOU MAKE BETTER DECISIONS IN YOUR LIFE

Review all the information that allows you to make informed decisions.
Focus on what is important to you and your long term goals.
Take it easy on yourself, you will not get it right every time.
Create a system that works for you.
Further reading:

The Everything Store: Jeff Bezos and the Age of Amazon


Culled From: https://realitycheck.world/2020/07/02/jeffbezos/

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Lalasticlala
Mynd44
Crazyman
1forall

Is the writer a billionaire?
Billionaires usually do not have time to write these kinds of things.

ThothHermes:
Is the writer a billionaire?
Billionaires usually do not have time to write these kinds of things.

you no know naija motivational speakers?

ugbede69:
you no know naija motivational speakers?

But he shared the link where he copied it from

byrron:




But he shared the link where he copied it from

na worm wey listen to motivational speakers dey go where chicken dey thinking say him be snake