Jeff Bezos First Mover book review

Word of mouth on the internet — in the first 30 days, we got orders from all 50 states and 45 different countries, with not a dollar of advertising, just all word of mouth.

How to know share value — if you could know for certain just two things: company’s future cash flows and its future number of shares outstanding, you would have an excellent idea of the fair value of share of that company’s stock today.

Disagree and commit — This will save alot of time, IF you have a conviction on a particular direction even though there’s no consensus, it’s helpful to say, “ look, i know we disagree on this but will you gamble with me on it? Disagree and commit?”

Keep customer informed — the world is getting increasingly transparent. That information perfection is on the rise. If you believe that, it becomes strategically smart to align yourself with the customer. If you have a business model that in part relies upon your customers being misinformed or let’s just say incompletely informed, you’d better start working on changing your business model.

Building a team — Single biggest component of bringing together a talented and diverse group of people. This is absolutely key. You attract them by giving them the opportunity to build something important, to improve customers’ lives and to change the world in some fundamental way. Great people should also be owners and they are, through generous stock-option incentives. Put in place a process that attracts and retains smart , talented…