The Secret To Amazon's Rapid Growth | Entrepreneurship | YAPClassic

Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

YAP Media Network

Education, Marketing, Entrepreneurship, Business, Self-improvement

4.8 • 1.3K Ratings

🗓️ 25 November 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Amazon is one of the ten richest companies in the world, and its founder, Jeff Bezos is one of the five richest people in the world, with a net worth of over $120 billion. Founded in 1994, Amazon was the fastest company in history to reach $100 billion in sales. How did he achieve such massive success in less than 30 years of operation? Today, we’re getting an inside look at how Jeff Bezos approaches business from Steven Anderson, author of The Bezos Letters. Steven has over 35 years of experience in the insurance industry and he is a trusted authority on risk, technology, and innovation. In this episode of YAP Classic, Hala and Steven dive into the contents of The Bezos Letters, a collection and analysis of Jeff Bezos’ annual shareholder letters. They discuss some of the key strategies and lessons outlined in The Bezos Letters, like measuring your return on risk, adopting a ‘day one’ mentality, and using free cash flow as a primary metric for measuring your company’s success. They also talk about some of Amazon’s biggest failures and how Amazon encourages its employees to experiment and take risks. Topics Include: - Why did Steven write The Bezos Letters? - Innovation vs. experimentation - The value of failure - Amazon’s greatest failures - Being terrified of your customers - Strategic risks for growth - Why Bezos banned PowerPoint at Amazon - ROR (Return On Risk) - The risk of not taking risks - ‘It’s always day one’ - The problem with judging companies by their profitability - Free cash flow as a primary metric - Steven’s secret to profiting in life - And other topics… Steven Anderson is a professional writer, speaker, and futurist. He is the co-founder and CEO of Catalyit, which simplifies technology for insurance agents. Steven’s insurance agency, The Anderson Network, is considered an industry leader in the field of insuring productivity, technology, and profits. He was named one of the original 150 LinkedIn influencers and he is a top 10 Global InsurTech influencer. His book, The Bezos Letters, has been featured on numerous podcasts and was included in Forbes’ list of the ‘Top 20 Books You Need to Read to Crush 2020.’ Resources Mentioned: YAP Episode #75, Grow Your Business Like Amazon: https://podcasts.apple.com/us/podcast/young-and-profiting-with-hala-taha/id1368888880?i=1000487032512 The Bezos Letters & its accompanying resources: https://thebezosletters.com/ Steven’s Website: https://steveanderson.com/ Steven’s LinkedIn: https://www.linkedin.com/in/stevetn/ Steven’s Instagram: https://www.instagram.com/steveanderson/ Steven’s Twitter: https://twitter.com/SteveTN Steven’s Facebook: https://www.facebook.com/SteveTN Sponsored By: ClickUp - Sign up today at ClickUp.com and use code yap to get 15% off Sabio - Visit sabio.la/YAP for a $1,000 scholarship towards the cost of their bootcamp at Sabio! JustWorks - Check out JustWorks' transparent pricing by visiting justworks.com/pricing The Jordan Harbinger Show - Check out jordanharbinger.com/start for some episode recommendations Shopify - Sign up for a free trial at shopify.com/profiting More About Young and Profiting Download Transcripts - youngandprofiting.com Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/ Join Hala's LinkedIn Masterclass - yapmedia.io/course

Transcript

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0:00.0	Hey, hey, young improfitters. Today on Yap, we're throwing it back to my interview with Steve Anderson from 2020.
0:20.0	It was recorded a couple years ago, but still as relevant as
0:23.9	ever, this episode is packed with gems. Steve Anderson is an expert in strategic risk and business
0:29.7	growth, and he wrote the book The Bezos Letters, 14 principles to grow your business like
0:34.3	Amazon, which has become a Wall Street Journal, USA Today, and
0:38.1	international bestseller. The Bezos Letters is a collection and analysis of annual
0:43.0	shareholder letters written by Jeff Bezos, the CEO and founder of Amazon. In this classic
0:49.2	episode, we yap about some of the insider secrets featured in the Basos letters, like measuring your return on
0:55.0	risk, adapting a day one mentality, and using free cash flow as the primary metric for measuring
1:00.8	your company's success. We also talk about why it's vital that your company routinely takes risks
1:06.5	and the value of encouraging your employees to experiment with new ideas.
1:11.5	And lastly, Steve reveals the bizarre reason why Jeff Bezos banned PowerPoint at Amazon.
1:18.1	I'm so excited to resurface this episode.
1:20.7	Get ready to learn entrepreneurship secrets from one of the best to ever do it and grow your business like Amazon.
1:29.4	Hey, Steve, welcome to Young and Profiting Podcast.
1:33.1	It's so great to have you on today.
1:35.1	Oh, Hala, thank you for having me.
1:36.5	This is a real pleasure to talk with you.
1:38.3	You are the author of the Bezos letters,
1:40.8	which are 14 principles to grow your business just like Amazon. And the book is
1:45.9	extremely well written. It's well researched. You got so many great reviews out there on this book.
1:52.2	And in it, you distill 14 principles or business insights that we can use to grow our business.
	...

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