Jeff Bezos is the founder, chairman, CEO and president of Amazon. He is happy to discuss his success and words of wisdom with other entrepreneurs and has often shared pieces of advice. He recently spoke at a re:MARS conference in Las Vegas about the number one key to business success.
Bezos said: “People who are right a lot listen a lot, and they change their mind a lot. People who are right a lot change their mind without a lot of new data. They wake up and reanalyse things and change their mind. If you don’t change your mind frequently, you’re going to be wrong a lot. People who are right a lot want to disconfirm their fundamental biases.”
Breaking it down
Whilst Bezos shared a number of important tips during his speech, breaking down this particular statement delivers a key to business success that is truly important: the ability to admit when you may be wrong.
It is not the first time Bezos has made this point, stating previously: “The smartest people are constantly revising their understanding, reconsidering a problem they thought they’d already solved. They’re open to new points of view, new information, new ideas, contradictions, and challenges to their own way of thinking.”
Although it can be difficult to self-criticise, stepping back from your own ideas and opinions and trying to detach emotionally will give you the ability to listen to other people’s ideas, such as colleagues or your branding agency, and recognise when you may need to change direction or rethink previous ideas.
According to Medium, Bezos’s success also boils down to Amazon’s focus on long-term strategic consistency as opposed to short-term gains. Working with a branding agency, such as Really Helpful Marketing, gives you the opportunity to create clear strategies and revisit your own ideas and opinions with a helping hand.
Whilst Bezos is not suggesting that you will always be wrong or always change your mind, the ability to look at a situation with fresh eyes will give you an attitude that commands respect from your peers and allows you to grow both personally and professionally. It will also encourage those around you to do the same, creating a successful business for all involved.