Jeff Bezos Startup Wisdom: Focus on Needs!

Code Conference 2016

At the end of his chat with Walt Mossberg, Jeff was asked what he thought would fundamentally change retail in the next 20 years.

He said the key drivers of the past 20 years will be the same for the next 20 years. (cue audience moan).

Paraphrasing Jeff’s explanation:

Amazon has always focused on Selection, Price and Convenience/Delivery. It’s impossible to imagine customers in 20 years saying:

we love Amazon but only wish they delivered a little slower, had less selection of prices were a little higher

There is still so much innovation to be done along those vectors -why bother looking elsewhere

His advice: work hard to find the truisms in your business. Uncover the constant stable customer needs. Find the things your can’t even imagine your customers not wanting in 20 years. Focus on them.

Everything else will change. Technology, competitive set etc but needs are stable. Build your strategy around core customer needs.

“Needs never go out of style. The energy you spend on them will pay dividends for years”

[Disruptive Innovation & Jobs to Be Done Theory espouse the same logic. Jeff distilled it simply and elegantly]