2009 – Goals, Right Goals & Process

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 truly, 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 thirteenth letter in the series.

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

Jeff starts off with reeling the financial results along with an interesting premise; The premise that all of the results are due to focus on improving customer experience. That being said, the rest of the letter is all about how he went about it.

Learning #1: Focus on identifying the right goals

Goals are all about focus. Goals reflect personal and company values. Jeff shares that 360 of the 452 goals for 2010 will have a direct impact on customer experience. Don’t focus on outcomes. Focus on goals which when achieved have the right financial rewards as the by-product

Learning #2: The process matters more than outcome analysis

Focus on the methods that will lead you to the outcome. The outcome happens whether we like it or not.

Learning #3: Don’t just listen to customers; Invent on their behalf

Start with customers and work backward. But don’t just listen to them; Invent for them. Uncover the true need and create a product that will “wow” them. Remember this, ” Tools are created by humans, but over time tools will change humans.” Create human behavior changing tools

Learning #4: Manage controllable inputs rather than focusing on financial outcomes

Focusing on financial outcomes through continuous analysis can never affect the outcome. What can affect the outcome is the core focus on controllable inputs. We can’t control the economy, but we can control the mindset which can identify the market gaps within the economy.