Jeff Bezos: his management values

1. Base your strategy on service, not gadgets. Products and technologies will always change. What never goes out of style is a commitment to “wider selection, lower prices and fast, reliable delivery.”

2. Obsess over customers.

3. Be willing to be misunderstood for long periods of time. Bezos tends to take a long-term view on innovations that don’t pay off right away.

4. Work to charge less. Many companies try to charge as much as they can, when they can — Amazon’s culture emphasizes frugality.

5. Determine what your customers need, and work backwards. “Specs for Amazon’s big new projects such as its Kindle tablets and e-book readers have been defined by customers’ desires rather than engineers’ tastes,” says Anders.

6. “Our culture is friendly and intense, but if push comes to shove we’ll settle for intense.”Data — not social cohesion — rules Amazon.

7. Be willing to fail — often. Amazon recognizes that failure is a natural part of the innovation process.

8. “In the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts.”

9. “Everyone has to be able to work in a call center.” Perhaps a page borrowed from the US Marine manual, in which every marine, regardless of rank or specialty, is a rifleman first. All Amazon managers are expected to be trained as call center representatives.

10. “This is Day 1 for the Internet. We still have so much to learn.” Bezos first said that in 1997, and still believes it.