Audio version available:
To whom it may concern:
Throughout my life I met lots of business people. Most of them held senior positions in companies, such as executives, regional managers, etc. I’m not a person interested in business, however, I did learn a lot from my friends especially because they had lots of experience and were leaders in their industries.
This one time I met the CEO of a large company that had been around for some time. Dave (The CEO of the big company) was a nice old guy with lots of business experience. Dave taught me a lot about business when we went out for coffee. There were times where we spent all day talking about business.
Dave worked at a beverage company that had been around for a while. The company was originally established nearly 148 years ago. The company owns a wide variety of brands that perform extremely well. Dave’s company has hit record growth rates no other company has reached.
According to Dave, they developed a company wide flywheel that helped them accelerate the business. Basically they determined a few core components such as efficiency, simplicity, etc and focused on perfecting and accelerating them. Additionally, they refrained from being risk averse. They were never afraid to try new things.
Dave’s company took calculated risks using data and technology. This one time they ran a campaign where customers could get drinks with their names on them. It was a big hit, no company had ever tried using names as a marketing campaign before.
Using strategies Dave used can help anyone accelerate their business. While success cannot be guaranteed, the strategies Dave used are quite intelligent.
In this journal entry of Julio, we learn how to grow your business and stay relevant. We wish our readers don’t just simply read this story but rather also reflect on the lessons mentioned. See if you can implement any of the lessons taught in your life.
Book: The Bezos Letters by Steve Anderson
- Understand your flywheel – Determine 3-4 core components of your business and work on accelerating them
This is a strategy Amazon used to rapidly grow and become the huge success they are.
- Never be risk-averse
Don’t be afraid to try new things.
- Take calculated risks
Use data and technology to take calculated risks.
Notice: All of the entities and locations mentioned in this entry are fictional.