The ability to take risky decisions is a quality that helps successful people to always be ahead. The rest is either to be jealous, or to learn and try to catch up and overtake.
Jeff Bezos, CEO of Amazon - one of those who can move faster than anyone else, and he does not mind telling how it works.
In mid-April, he published a letter to the shareholders of Amazon, in which he explained how he manages a giant company, employing 341 thousand employees.
One of the most successful entrepreneurs of the world explained how he takes risky decisions.
He calls his idea "Day 1", and this name sounds to him like a mantra.
The main component of the concept is the ability to take risks:
"You have to somehow make high-speed decisions that will be effective," he writes.
"It's easy when you have a start-up, and it's very difficult in large organizations."
Here are the steps he proposes to take to accomplish this task.
1. Understand that,
In order to decide on something, it is enough to have 70% of the information. Collecting more data (that is, 90%) in the hope of gaining confidence that you are acting correctly is not necessary.
2. If you feel insecure, just understand that you can always show flexibility if something goes wrong. "Many decisions can be changed,
This door opens in two directions. To solutions that can always be canceled, come easy. " To understand how easy it will be, you can, answering a simple question: what if I'm wrong?
3. Do not be afraid to make a mistake, do not think through everything. Better hone the skill of "quick recognition and change of wrong decisions."
If you learn to correct what you have done, mistakes will not cost you too much. But if you think long, you may have to pay dearly for it.
4. To force other people - buyers, employees, partners - to agree with you it is possible, even if they are categorically against. Invite them to "disagree,
But take responsibility. "
"If you have a disagreement on a particular issue, it will be useful to say:" Look, I know that we did not agree, but let's try. Are you in the game? We will not agree, but will accept responsibility? ""
This is one of the main principles of Amazon management, which is used when the company's management is trying to decide,
What products should be promoted.
According to Bezos, the concept works perfectly for managers, including for himself.
"If you are the boss, you should also do it. I do not always agree, but I take responsibility. Not so long ago we opened our television studio. To the members of my team I said beforehand: how much is interesting is the big question
, Production will be difficult, business conditions are not the best, and there are other options for projects. They had the opposite opinion, they wanted to get down to business.
I immediately backed down and said: "I do not agree, but I accept responsibility and I hope that this will be the most successful project of all that we have ever done."
When you or your colleagues do not agree, but take responsibility, it does not mean that you are waiting for the moment to say: "I told you!" It's a chance to convey to people a different point of view, but still go ahead, supporting each other . Even if no one will change his mind.
In other words,
"Indulging in eroding doubts is the worst thing you can think of when making decisions," Bezos says. - It slowly sucks up energy. But the practice of making decisions at high speed makes life much more fun. "
Thank for your attention!
Be successful, thanks to my advice
Follow @dizhmur
source: http://www.management.com.ua/notes/jeff-bezos-on-risky-business-decisions.html
https://theidealist.ru/bezosletter/
Image from