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24/7 Wall St. Insights
- Jeff Bezos is the founder and former CEO of Amazon.
- Known as the "King of Cyber-Commerce."
- In 2024, Bezos ranked second on Bloomberg's wealth index, with a net worth of $208 billion.
- Also: 2 Dividend Legends To Hold Forever
Jeff Bezos revolutionized e-commerce in the late 20th century like no other entrepreneur. Although discouraged by his boss, Bezos decided to resign from his post as a senior vice president at the hedge fund, D. E. Shaw & Co., to launch Amazon in 1994. As a successful entrepreneur, real estate investor, and philanthropist, Jeff Bezos has accumulated valuable wisdom on his tremendously profitable journey to success. The following 8 quotes from Jeff Bezos are particularly helpful for 40 years olds, during their unique stage in life. With responsibilities spanning over a demanding career, family, and the desire for personal growth, these pearls of wisdom are sure to inspire this demographic to focus and prioritize on the things that truly matter.
Why Are We Covering This?
Before an entrepreneur can have success, there will be failures.
Jeff Bezos is a perfect example of the power of investing. As one of the richest men in modern day history, his wealth stems from a diversified portfolio. Not only does he own 988 million shares at Amazon, but he also has investments in both properties and companies. Furthermore, to expand Amazon's revenue streams, Bezos started other companies, such as the digital streaming service, Prime Video. To learn more about the massive success of this e-commerce behemoth, read here.
1. “If I have three good decisions a day, that’s enough. They should just be as high quality as I can make them.”
It's not about quantity but quality.
- Make few well-thought out decisions.
- Don't make numerous, hasty decisions.
Choose Well
In doubt? Choose quality.
Jeff Bezos knows that, as an entrepreneur, you will be confronted with numerous decisions that he needs to make to run his empire and keep up with his investments. Here his words of wisdom ring true. Only focus on making a few, strategic decisions that will bring the most successful outcome, and ignore the rest. Sometimes entrepreneurs don't have enough time or information to make the right choice. Therefore, it is best to focus on the most basic and most effective plan of action to move the needle of success forward.
2. “If you can somehow figure out how to have a calling, you have hit the jackpot, cause that’s the big deal."
Have you found your calling?
- Discover your purpose.
- Discover your passion for your work.
Win Big.
Finding your passion is a rare achievement.
One of the most challenging aspects of our lives is finding our purpose. A calling is essentially finding a line of work that is directly aligned with your convictions, giving you fulfillment and meaning to your life. Bezos acknowledges that it is indeed a rarity for most of us to find that one line of work that is aligned with both our interest and our values. But when we do find it, it is the equivalent to hitting the jackpot.
3. Where you are going to spend your time and your energy is one of the most important decisions you get to make in life.”
Don't waste time.
- Time and energy are finite resources.
- Use them well.
Allocate Your Time Wisely.
The right choices can impact your trajectory for the better.There is no question that our time and energy are limited resources. Therefore, we must do all we can to place our focus where it is of most importance. Bezos makes it clear that we must be intentional with every decision we make to leverage these valuable resources and gain the most advantage and the results we want. The right choices can make both valuable and positive impact on our career, personal relationships, and our personal growth. Most importantly it can completely change the course of your life.
4. “Invention is by its very nature disruptive. If you want to be understood at all times, then don’t do anything new.”
New ideas will challenge the status quo.
- This could lead to resistance.
- Could also lead to misunderstandings.
Just Create
Your need for comprehension could be a barrier to groundbreaking ideas.
Innovators have never been fully understood by their professional peers, much less from the general public. However, this is a reality that innovators must accept as it comes with the territory. Embracing the potential to be misunderstood is not easy for anyone as most of us crave acceptance. Yet, without taking a risk, new innovations will never see the light of day. Although success is not a guarantee, an innovator who is ready to put their ideas out into the world and attempt to clarify any misunderstanding could potentially can make their dreams come to fruition.
5. “The keys to success are patience, persistence, and obsessive attention to detail.”
Stay the course.
- Be patient and without complaint.
- Continue the course, despite difficulty.
The Secret to Success.
Have a long-term vision.
The life of the entrepreneur is fraught with everyday challenges. With a seemingly endless list of "to-dos", an entrepreneur must juggle numerous tasks daily, including product development, accounting, finance, risk management, building and sustaining enough capital, the list goes on. Therefore, Bezos offers some key characteristics that an entrepreneur must have in order to persist in this topsy-turvy, unpredictable, and stressful world. Having patience, persistence, and an obsessive attention to detail are critical to support long-term growth.
6. “In the end, we are our choices. Build yourself a great story.”
Our decisions can make a profound impact on our lives.
- Our character is shaped by the decisions we make.
- Make choices that create an inspiring story.
Build a Great Story
Make conscious choices.
A very revealing and insightful quote, Bezos emphasizes on the massive impact our choices can truly make, revealing our character and motivation. Therefore, every choice made should be made with an intention, towards a short-term, long-term, or life-long goal. Bezos encourages us to take ownership of our choices and ensure that they are aligned with our ultimate goals. Here again, he encourages us to live a life with intention, resulting in a life that we can be proud of.
7. “Cleverness is a gift, kindness is a choice. Gifts are easy — they’re given after all. Choices can be hard.”
Choose kindness.
- Intelligence is a gift.
- Kindness is a deliberate action.
Choose Wisely.
Kindness defines a person's character.
Although Bezos believes cleverness and intelligence are highly admirable, it is kindness that truly makes a positive impact on the world. Here he is highlighting the importance of pursuing personal growth and character development. On one hand, Bezos believes that relying to heavily on one's own intelligence could potentially lead to a lack of empathy. When it comes to leadership and business, it is best to develop empathy, fairness, and compassion so that they can make ethical decisions.
8. “One of the huge mistakes people make is that they try to force an interest on themselves. You don’t choose your passions. Your passions choose you.”
So, we shouldn't pursue our passions?
- Passions are deep inside of us.
- They are aligned with our natural talents.
Let Passion Choose You.
Pursue something of genuine interest.
Pursuing our passions has been a popular theme for many years. From influencers to thought leaders, the goal is to encourage everyone to pursue work that will ignite their interests and thereby, not feel like they are actually working. However, Bezos reveals that it doesn't need to involve a life-long pursuit of something that makes you feel passionate. Many aspects of work can and will involve aspects that you don't necessarily feel passionate about. Instead he emphasizes the importance of allowing passions to find us through a more organic process. We must allow ourselves to be open to explore different interests.
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