business lessons: Hi people, welcome back to ViralMaxx.
business lessons: Now for the past one week, I’ve been reading this beautiful book. Written by Bradstone called the everything store, and since I’ve started reading this book. I just couldn’t stop obsessing over jeff Bezos and Amazon. While I was reading this book I came to a realization, that so many people around us are so much fascinated by Jeff Bezos and his net worth. And how he makes and spends his billions? You know thanks to the billion-dollar pages. That has been popping up lately but on the other hand, none of us are deeply concerned about the habits that turned Jeff Bezos into the icon. That he is today or we are never curious about what are the books he reads. Or how does he get these brilliant ideas? because of which he’s able to establish his company as a monopoly in more than 13 sectors?
This is why in this article today. we’re gonna do a deep dive into some of the most amazing practices of jeff Bezos himself. and these are the practices that you can start practicing from tomorrow itself. Hopefully, it will bring in some remarkable transformations in the way you think. with that let’s get started with this article (business lessons).
business lessons 1. Mindset
The first habit that we’re talking about is his mindset of work ethic. Now, people, an average corporate employee works for about 45 hours a week. That’s about 9 hours a day. But Jeff Bezos the CEO of a trillion-dollar company works only for 8 hours a day. The question is in this fast-paced world of hustle and bustle. How does the CEO of a trillion-dollar company manage to work only for eight hours a day? That is because he functions with something called the manager’s mindset. Now people typically if you look at it there are two ways in which we function while we approach any particular project. The first mindset is the worker’s mindset and the second mindset is the manager’s mindset.
business lessons 2. Workers Mindset
Workers’ mindset is when you measure the success of your work. Solely on the basis of the time and efforts that you have put in. For example, if you end up working for 12 hours a day on a particular project. You would consider that day to be successful. It’s called the worker’s mindset. Because during the industrial revolution the value of a worker was solely measured on the basis of the time that he could put in. The efforts that he could put in, on the contrary, the manager’s mindset is when you measure the success of your work solely on the basis of the outcome that you have generated(business lessons).
For example, even if you end up working for say 15 hours a day on a particular project. And if you have not been able to generate a significant amount of output you would consider that day to be unsuccessful. At the same time even if you work for only three hours a day and you were able to bring out the desired output. You would consider that date to be successful.
The lesson that we all have to learn over here is that people we are no longer living in an age of slogging. But about getting maximum work done in the shortest possible time. While the world is obsessed with this idea of the hustle. and 16-hour work ethic we need to always be mindful that there is a thin line between genuine hard work and useless logging. That is our first takeaway for the day. with that, we move on to the second practice.
Importance of decision
The importance of decision-making. Now people at the David Rubinstein show. Jeff Bezos stated that as a senior executive your job is not to make thousands of decisions. But to make a small number of great decisions. Which will impact the future of the company. He said that at no given point of time should you ever compromise on the quality of the decision. Just because you’re tired or you’re crouching. Now the reason why I say this is absolutely important in spite of this being hammered to all of us.
Hundreds of times by multiple sources is because we still take decision-making for granted. A very simple example of that would be the decisions that we take related to our education. How many of you guys have actually sat down with the laptop to understand how is the market going to change in the next 10 years? and how is the engineering field or any other field that you’re going to choose going to equip? You with the skill set which is relevant in today’s world and will stay relevant after you have graduated.
I bet you that 99 of you have not done the research that is required. The only question that we ask is guys field miss scope and then we immediately jump into making the decisions that will potentially be changing our life forever this is the reason why being a YouTuber and a blogger sounds like a stupid decision.
At the same time being an unemployed engineer sounds like a sensible decision. We never think on these lines because we very easily submit to the rat race without realizing the fact that every single decision that we are making related to our career is irreversible and will change our lives forever.
Now in the context of business decision-making becomes even more important. Because now your decisions will no longer just affect you but it will also affect a bunch of other people in your team. and because most people do not realize the importance of decision making.
Leaders mess up all the time now there’s an interesting toy that I read in my history textbook which clearly tells you the importance of decision making using a real-life example.
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This is a story of 20th century Vietnam. wherein the governor of indo-china Paul Domer came to Vietnam and he decided to change everything in Vietnam by making it more hygienic and a more civilized society.
His plan was to transform the entire city of Hanoi into a city of urbanism order and renovation and these are the things that were considered to be civilized in France. So the first step that he took was to eliminate filth by developing a sewer system for Hanoi. And as soon as the sewer system was built everybody was applauding paul dormer. It was considered to be a brilliant decision until the sewer system began to become a breeding ground for rats and rodents. During the 20th-century rats and rodents were perhaps the scariest creatures in a city. Because they were closely linked to something called the bubonic plague.
Which was perhaps the deadliest plague at that time and ended up killing 25 million people in Europe alone. So the French administration decided to tackle this problem. By recruiting a bunch of Vietnamese vigilantes to go out there and hunt the rats.
But as it turns out the rats always sanded up out populating the Vietnamese vigilantes. And you know the more they killed the more rats came in so they decided to accelerate this program by coming out with a city-wide bounty program to kill the rats. When they said that for every rat you kill you have to bring us the tail of the rats and we will pay you one cent per tail because they did not want to deal with the rat corpses because they were civilized you know.
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So what happened was many many people began to you know kill rats and bring in dozens and dozens of tails. This number of the tails which was supposedly representing the number of rats killed went up as high as 20 000. And as it turns out the problem was not being solved at all. When the french administration started to do a deep dive into how this operation was actually being conducted they understood that many of these Vietnamese vigilantes were not at all killing the rats. They were only cutting off the tail and they were letting the rats go so that the rats could breed and then produce more babies eventually giving them a great business outcome(business lessons).
Some people even began to smuggle rats into the city. And engaged in something called rat farming and later in 1906 as it turns out there was a bubonic plague outbreak. Which ended up killing 263 people immediately after the rat bounty program was abolished. Paul Domer returned back to France to never ever come back to Vietnam.
This is a classy example to demonstrate the magnitude of repercussions that could be caused because of a low-quality decision. So always remember people as leaders your job is not to work hard but to think well. That the entire hard work of your team is channelized in the right direction and produces the desired output without actually backfiring. Like the case in Vietnam with that, we move on to practice. (business lessons)
Scheduling the day
That is about scheduling the day now people in the same David Rubinstein show. Jeff Bezos stated that he always schedules all of his high IQ meetings at 10 am. Gets did with all of this high IQ stuff before lunch. Now the question is why is that? As of now, I’ll just give you a brief overview of what this is all about.
Our brain has two kinds of functions. The first is the function that is required for creative activities. That is the ability to do creative thinking and the second is the ability to do laborious work.
Which do not require any sort of critical thinking whatsoever. So from 9 am to 1 pm typically if you see your brain is highly capable of doing critical thinking. So if you schedule all of your creative work from 9 am to 1 pm. You will be able to work in the most efficient manner.
At the same time. If you postpone this work post lunch you will become drowsy. The same work which will possibly take one hour in the morning will end up taking two to three hours post-lunch. Which will result in low-quality work and absolute frustration. After you’re done with all of your work I would say immediately after 6 pm shut down your laptop. Go home and chill with your family. That’s because people it is very important for you to give time for your brain to rejuvenate itself.
That it can be ready for the next morning. Once you begin to be mindful of these productive practices. You will begin to strike a perfect work-life balance. For god’s sake people please don’t be a case as and stay in the office after 6 pm. Also, expect your colleagues to do so too.
That’s all from my side for today guys.
Thank you so much for being with me. Throughout the article, I just hope you found immense value in the practices that I’ve told you about Jeff Bezos. Please try and apply these practices to your life. That’s when you will begin to extract the true value of this content business lessons.