Jeff Bezos is one of the greatest business minds of the 21st century. As the founder and CEO of Amazon, his company is on track to become the world’s first trillion-dollar company, according to Business Insider. He was also an early investor in Google, Uber and Twitter and runs his own space exploration company, Blue Origin.
Having amassed such incredible success, you’d be sure to think that he is able to teach us a thing or two on his leadership. Let’s explore a few lessons on what you can learn from Jeff Bezos’ leadership style and seek to emulate them in your company
1. Leadership is vision
Jeff’s vision was to set up a company that makes a difference in the lives of its customers. In an early communication with Amazon’s shareholders, he explained that his vision was “to establish the world’s most customer-centric company. Where customers can visit, find and discover anything and everything they may want to purchase online.” That was back in 1999. Hardly anyone back then knew about Amazon or e-commerce. Nonetheless, Jeff made it clear to his stakeholders that they will not sacrifice their vision for short-term gains.
Many start-up entrepreneurs often sacrifice their visions for short-term gain. They try to do everything themselves to “cut costs.” However, this may not turn out healthy for the business.
When you spend money on outsourcing firms, such as companies which offer SME accounting services, you are investing in a long-term vision. Accounting services firms like Ackenting Group can help you to articulate your finances better, and provide you with all the financial statistics, analysis, and risks so that you can allocate your resources that are in line with your vision. Their goal is to take on the financial aspects of your business so that you can focus on your business and thrive.
Here are a few lessons from Jeff on vision:
- Have a long-term vision for your business
- Let all stakeholders know about your vision
- Make business decisions based on this vision, not for short-term gain
2. Leadership is delegating
Jeff captures this excellently in his description of Audible – the audiobook company Amazon acquired in 2008. In 2013, he said, “Audible makes it possible for you to read when your eyes are busy.” The public knew Jeff as a busy man. But he knew that it was essential to keep reading and learning. He found creative and effective ways to do so through audiobooks.
Financial management in your business is vital. But that doesn’t mean that you should sacrifice and do it yourself. Firms offering essential accounting and bookkeeping services can enable you to delegate it properly. This is where Ackenting Group can help you with your financial management. As they aim to keep your financials in check, they can help your company to take the right financial step forward. Their team of professionals are able to provide knowledge and experience in guiding your company in the right direction. From audit to tax accounting services, they can help you with financial management in the best way possible.
3. Leadership is commitment
Jeff indicated from the beginning that Amazon was in it for the long haul. However, like any company, they have gone through countless ups and downs behind the scenes. It can be hard to stick to your long-term vision when faced with many tribulations. It takes conviction to stick to your vision and come up with a well-articulated and sensible plan.
With the help of firms offering corporate accounting services, they can help you to come up with a well-articulated plan and give you a clear understanding of your business financials. While you may experience particular challenges along your journey, having a solid financial plan can help you to stay committed to your vision.
4. Leaders know where the markets are heading
Jeff knew very well that all business leadership traits hang on to one aspect: having a deep understanding of the market and the opportunities within. He understood the trends and developments in technology. He saw the opportunity in online shopping access devices, and the internet grew. As such, he sought to capitalise and used these opportunities to expand his business.
Working with a firm that offers professional account services can help you analyse markets and identify opportunities that lie in the future. By following Jeff Bezos’ tips, you may find even more ways that your business and your company can triumph against the odds.
If you require any assistance on accounting services, feel free to drop us an email at johnwoo@ag-singapore.com or contact us at +65-66358767. At Ackenting Group, we offer a complimentary 30 minutes online consultation for us to better understand your business requirements.
