When McKenzie Tuttle walked down the aisle to say “I do” to her husband-to-be Jeff Bezos, she thought she was marrying into a secure future. At the time, Bezos was in his 30s and serving as Vice President of an investment firm in New York City. It was a job he liked – and one that paid well – but Bezos couldn’t shake this crazy idea from his head; he wanted “to create the world’s most customer-centric company, the place where you can find and buy anything you want online.” That stable life McKenzie once had was almost immediately turned upside down when Bezos decided to launch Amazon.com. As fate would have it, Bezos’ small garage startup would go on to become one of the leading e-commerce sites in the world, with revenues exceeding $8 billion.
Bezos was hit with the hard reality of life when he came to the realization in university that he would never become one of the world’s great physicists. Little did he know that what the future had in store for him would be equally as impressive; from the garage in his two-bedroom home to the company’s global headquarters in Seattle that oversees its $8.5 billion in revenues, Amazon has become one of the largest e-commerce sites in the world. How did Bezos do it?
“For the first four years of the company, we worked in relative obscurity. We always had lots of supporters and we always had lots of skeptics, and that’s still the same today. It’s just that the level of visibility is so much higher. If you look at the six years that we’ve been doing business, in exactly one of those six years we were not the underdog.
If you’re not stubborn, you’ll give up on experiments too soon. And if you’re not flexible, you’ll pound your head against the wall and you won’t see a different solution to a problem you’re trying to solve.
If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.
We have so many customers who treat us so well, and we have the right kind of culture that obsesses over the customer.
If there’s one reason we have done better than of our peers in the Internet space over the last six years, it is because we have focused like a laser on customer experience, and that really does matter, I think, in any business. It certainly matters online, where word of mouth is so very, very powerful.
We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.
I love people counting on me, and so, you know, today it’s so easy to be motivated, because we have millions of customers counting on us at Amazon.com. That’s fun.
I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.
The framework I found which made the decision incredibly easy was what I called – which only a nerd would call – a ‘regret minimization framework’. So I wanted to project myself forward to age 80 and say, ‘Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.’
I knew that that would haunt me every day.”
Are you ready to live 2008 with no regrets?
