On this episode, Mike is joined by Steve Anderson. Steve is the author of The Bezos Letters.

Questions Answered:

• How does Amazon do it?
• How are they growing?
• What is your approach to research?
• Why do we struggle going deeper?
• How do we work on understanding our flywheel?
• How do we make the complex simple?
• What does it mean to be dynamic?

Key Takeaways:

• Bezos is the master of risk. He understands that businesses have to take risks if they are going to grow.
• All research starts with a question. You need to be curious.
• Interpretations help you go deeper.
• Keep asking "why" 5 times in hopes of getting to the core problem.
• Amazon's flywheel isn't necessarily your flywheel.
• It is hard to implement - every piece of the flywheel has to be working right.
• Treat every morning like it is your first day in business.
• As a business becomes successful, they tend to stop iterating. They need to be constantly watching how customers are changing.
• Dynamic means it is happening all the time.
• Core to being dynamic is experimentation.
• Businesses need more experimentation, not more innovation.
• Every business goes through cycles, don't get overwhelmed.

Show Links:

• www.thebezosletters.com
• The Bezos Letters
• Jim Collins - Turning the Flywheel

Thank You

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