2007 – Don’t Improve, replace

I have always been intrigued by the letters sent to shareholders by both Warren Buffet and Jeff Bezos. They are inspiring and, for wannabes like yours, indeed a source of motivation and hope. So I am creating a series of articles on what learnings I took away from the letters of Jeff Bezos. This is the eleventh letter in the series.

You can check out the complete series here: https://alphonserajdavid.com/category/book-reviews/non-fiction/jeff-bezos-stakeholder-letters/

Learning #1: Whilst improving an existing solution, rip it to the bare foundations

Jeff, starts off by talking about the success of Kindly and then asks a question, “What makes a book a book?” It’s not the paper and the ink but rather the story. To make a digital book, remove everything other than the story.

Learning #2: When improving don’t copy every feature

When you are trying to solve a problem in a different way, don’t focus on replicating all features the old method offered. Instead, focus on new ways you can add value.

Learning #3: Humans change tools and then the tools change humans

All tools in existence are products of human imagination. But these tools can change our behavior as well. Think fire. Think wheels. Innovate and you will improve constantly

Learning #4: Missionaries build better products

Work with people who are passionate about the product. Only then would you stand a chance of breaking the incumbents.

In the end, there is more innovation ahead of us than behind us, and do not expect the road to be an easy one.