Caroline Biesalski introduces the episode by exploring the concept of strategic risk versus unwarranted risk aversion, welcoming guest Steve Anderson. Steve shares his journey and insights into business growth principles, focusing on the stages of test, build, accelerate, and scale. The conversation highlights the value of successful failure and how corporate culture can effectively handle setbacks. They discuss Amazon's approach to prioritizing risks and maintaining customer obsession within a long-term strategy. Steve emphasizes the Day 1 mindset and how Amazon's principles can be applied to small businesses. The episode concludes with discussions on setting personal goals, Steve's future projects, and Caroline's closing remarks.

(0:00) Introduction and Strategic Risk vs. Unwarranted Risk Aversion

(1:18) Welcoming guest Steve Anderson

(2:21) Steve Anderson's Journey and Insights

(4:30) Business Growth Principles: Test, Build, Accelerate, Scale

(6:05) The Value of Successful Failure

(7:57) Corporate Culture: Handling Failure

(8:47) Prioritizing Risks and Growth at Amazon

(9:52) Customer Obsession and Long-term Strategy

(13:11) The Day 1 Mindset in Business

(15:45) Applying Amazon's Principles to Small Businesses

(18:35) Setting Personal Goals and Future Projects

(20:21) Closing Remarks