Start With the Customer and Work Backward

“You know the business plan won’t survive its first encounters with reality,” he says. “But the discipline of writing the plan forces you to think through some of the issues and to get sort of mentally comfortable in the space. Then you start to understand, if you push on this knob, this will move over here and so on. So, that’s the first step.” ― Jeff Bezos

“I agree with people like Richard Dawkins that mankind felt the need for creation myths. Before we really began to understand disease and the weather and things like that, we sought false explanations for them. Now science has filled in some of the realm – not all – that religion used to fill.” ― Bill Gates

“The climate is like a bathtub that’s slowly filling up with water. Even if we slow the flow of water to a trickle, the tub will eventually fill up and water will come spilling out onto the floor. That’s the disaster we have to prevent. Setting a goal to only reduce our emissions—but not eliminate them—won’t do it.” ― Bill Gates

“[Bill] Gates said he connected with [Eddy] Izzard even though it would appear they have nothing in common — but that might be the point the author is trying to communicate. "I've recently discovered that I have a lot in common with a funny, dyslexic, transgender actor, comedian, escape artist, unicyclist, ultra-marathoner, and pilot from Great Britain. Except all of the above," Gates wrote. "We're all cut from the same cloth. In his words, 'We are all totally different, but we are all exactly the same” ― Bill Gates

“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.” ― Jeff Bezos

“starter pack of essentials for Day 1 defense: customer obsession, a skeptical view of proxies, the eager adoption of external trends, and high-velocity decision making.” ― Jeff Bezos

“The missionary is building the product and building the service because they love the customer, because they love the product, because they love the service. The mercenary is building the product or service so that they can flip the company and make money.” ― Jeff Bezos

“Complaining is not a strategy.You have to work with the world as you find it, not as you would have it be.” ― Jeff Bezos

“Until July, Amazon.com had been primarily built on two pillars of customer experience: selection and convenience. In July, as I already discussed, we added a third customer experience pillar: relentlessly lowering prices. You should know that our commitment to the first two pillars remains as strong as ever.” ― Jeff Bezos

“We’ve made mistakes, doozies like the Fire Phone and many other things that just didn’t work out. I won’t list all of our failed experiments, but the big winners pay for thousands of failed experiments.” ― Jeff Bezos

“the quality of customer experience a partner delivers is the single most important criteria in our selection process—we simply won’t build a partnership with any company that does not share our passion for serving customers.” ― Jeff Bezos

“Second, most decisions should probably be made with somewhere around 70 percent of the information you wish you had. If you wait for 90 percent, in most cases, you’re probably being slow. Plus, either way, you need to be good at quickly recognizing and correcting bad decisions. If you’re good at course correcting, being wrong may be less costly than you think, whereas being slow is going to be expensive for sure.” ― Jeff Bezos

“Stop being patient and start asking yourself, how do I accomplish my 10-year plan in 6 months? You will probably fail but you will be a lot further ahead of the person who simply accepted it was going to take 10 years.” ― Elon Musk

“Don't confuse schooling with education. I didn't go to Harvard but the people that work for me did.” ― Elon Musk

“If humanity is to become multi-planetary, the fundamental breakthrough that needs to occur in rocketry is a rapidly and completely reusable rocket … achieving it would be on a par with what the Wright brothers did. It’s the fundamental thing that’s necessary for humanity to become a space-faring civilization. America would never have been colonized if ships weren’t reusable.” ― Elon Musk

“When I was sixteen, I had just two things on my mind - girls and cars. I wasn't very good with girls. So I thought about cars. I thought about girls, too, but I had more luck with cars. Let's say that when I turned sixteen, a genie had appeared to me. And that genie said, 'Warren, I'm going to give you the car of your choice. It'll be here tomorrow morning with a big bow tied on it. Brand-new. And it's all yours.' Having heard all the genie stories, I would say, 'What's the catch?' And the genie would answer, 'There's only one catch. This is the last car you're ever going to ge tin your life. So it's got to last a lifetime.' If that had happened, I would have picked out that car. But, can you imagine, knowing it had to last a lifetime, what I would do with it? I would read the manual about five times. I would always keep it garaged. If there was the least little dent or scratch, I'd have it fixed right away because I wouldn't want it rusting. I would baby that car, because it would have to last a lifetime. That's exactly the position you are in concerning your mind and body. You only get one mind and one body. And it's got to last a lifetime. Now, it's very easy to let them ride for many years. But if you don't take care of that mind and that body, they'll be a wreck forty years later, just life the car would be. It's what you do right now, today, that determines how your mind and body will operate ten, twenty, and thirty years from now.” ― Warren Buffett

“People always ask me where they should go to work, and I always tell them to go to work for whom they admire the most.” ― Warren Buffett

“I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.” ― Warren Buffett

“When a person with money meets a person with experience, the one with experience ends up with the money and the one with money leaves with experience.” ― Warren Buffett

“our experience with newly-minted MBAs has not been that great. Their academic records always look terrific and the candidates always know just what to say; but too often they are short on personal commitment to the company and general business savvy. It’s difficult to teach a new dog old tricks.” ― Warren Buffett