Tag Archives: amazon

Jeff Bezos on Culture: Failure and Invention are Inseparable Twins

jeff bezos on corporate cultureFailure can’t be separated from invention, it’s not optional. It’s also why you can’t mandate innovation, only inspire it. You can create the conditions necessary for it to happen, but it’s not a set-it and forget it deal.

It’s something that Amazon CEO, Jeff Bezos, understands well and repeated this message once more in the latest letter to shareholders:

The attitude needed to be a better forecaster…and innovator

SuperforecastingPeople who are good at forecasting, including innovators, are good at changing their minds; an uncommon attitude. Changing ones mind contradicts the conventional wisdom of relying on experts for right answers. Truthfully, experts have no place in predicting future events because when it comes to discovering and predicting the unknowns, experts are overrated.

How so?

What large companies still don’t get about marketing innovation

Though we are fairly well into the internet economy where brands can communicate directly with customers in a variety of ways through social networks, one belief from the old order still holds true: incumbent brands believe that in order to win the hearts and minds of customers, that they can out-market upstarts that gain loyalty through the great products and services they deliver.

There are only a handful of companies that can both make great products and advertising. We continually marvel at products and services from visionary companies like Apple, Google, Uber and others who gain our loyalty the product and service excellence; you can actually feel their dedication.

Enthusiasm drives employee engagement…and innovation

As much talk and attention innovation gets, the topic of employee engagement isn’t far behind. And with good reason, the latest report from Gallup concluded that only 13% of employees worldwide are engaged at work. Damn!

But Gallup also points out that companies with engaged employees outperform those without by up to 202%, so there’s something we can learn from organizations with highly engaged employees.

It’s important that we must make a distinction here, for an engaged employee is not a satisfied employee. The point being that just because companies post pictures and videos of their employees having fun doesn’t mean that they are also satisfied with their work.

With that said, the following thread on Quora caught my attention because the person responding indicated why she was both engaged and satisfied with her work: Why are so many people content with just earning a salary and working 9-6 their entire adult life?

Innovation begins in the heart

How diluted has the word innovation become that, on top of confusing it with anything new, we rationalize why we should innovate.

Here are a few:

  • Let’s innovate so we can grow our business, otherwise we won’t!;
  • Let’s innovate so we can eek out a little more revenue from existing products and services;
  • Let’s innovate so we can develop new revenue streams, new business, new products & services;
  • Let’s innovate so we can be competitive with the rest of the world;
  • etc..

I’m sure you’ve heard some version of these before, and there are more like these. The above rationalizations are correct, but does it get you fired up? I’m sure it doesn’t.

An indicator that all this rationalization it doesn’t work to spur action is how many people still ask themselves: what’s the point?

Why do you want to “innovate”? Seriously, think about it…

Is it because you’re embraced common rationalizations followed by everyone else who can’t think for themselves? If you are, it sounds to me like you are playing not to lose.