In the newest installment of How to Grow Your Business Like Amazon, Steve takes a deep dive into the Accelerate Cycle, which contains the core principles that propelled Amazon's massive growth.
Within the Accelerate Cycle, Steve highlights the origins and importances behind the following principles: Generate High-Velocity Decisions, Make Complexity Simple, Accelerate Time with Technology, and Promote Ownership.
Listen as Steve walks us through how Jeff Bezos focused on each of these core principles to enhance various sectors of Amazon, as well as integrate new, lofty ideas thought to be impossible.
So sit back, relax, and enjoy another thought-provoking conversation that could leave you with some helpful information, which you could apply to your own business!
00:05 - Introduction and overview on past episodes
00:50 - The Accelerate Cycle overview
01:45 - Principle 7: Generate High-Velocity Decisions
05:00 - Never make a one-size-fits-all decision making process
07:30 - The importance behind the phrase "disagree and commit"
10:00 - Writing clarifies your thoughts
12:50 - Principle 8: Make Complexity Simple
14:50 - Amazon re-invented a basic book with the Kindle
19:30 - Principle 9: Accelerate Time with Technology
22:00 - Amazon Web Services is a perfect example of this principle
25:40 - Principle 10: Promote Ownership
28:00 - Getting employees to act and think on behalf of the entire company
30:30 - The Amazon Smile concept to incorporate charitable giving
33:20 - What is coming in the next episode
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