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8 months ago

PSIFebruary2018

A mind-set for success?

A mind-set for success? This month Jim Rathbone takes inspiration from the richest man in the world... o 2018 is underway. Did you set clear goals Sfor the year and if so are they still in focus? Are you optimistic about the year? What is your mind-set? I was struck reading the 2017 letter from Amazon’s CEO Jeff Bezos, written when the company has achieved a valuation of 100 billion dollars, only 20 years after it was founded. Bezos compares "Day 1" companies — companies that are at the beginning of their potential — with "Day 2" companies. A “Day 2” mind-set means stagnation followed by painful decline and death. Bezos wants Amazon to retain its mind-set as a “Day 1” company. For him there are 2 imperatives, 2 main hallmarks of a “Day 1” company. I believe they have resonance for security installers. Bezos credits Amazon's precise and unwavering focus on customer outcomes for the company's success. He says that Amazon focuses on always giving customers something better, even if it means inventing something totally new, like Amazon Prime. The company has also embraced outside trends like cloud computing and AI. While trends like those can be easy to spot, Bezos suggests that "Day 2" organisations resist them. To take advantage of emerging opportunities and market developments, Bezos stresses the importance of "high-velocity decisions." That doesn't mean making low-quality decisions, but it does mean most decisions should probably be made with somewhere around 70 percent of the information you wish you had. "You need to be good at quickly recognising and correcting bad decisions. If you're good at course correcting, being wrong may be less costly than you think," Bezos says. Take five minutes and read Jeff Bezos' 2017 Amazon Annual Letter online and share it with your team and explore how it is relevant to your business. "You need to be good at quickly recognising and correcting bad decisions” Jim Rathbone is the Managing Director of Rathbone Results. Contact him at jim@rathboneresults.com ARE YOU MISSING SOMETHING? @securitydrum follow PSI on Twitter for news, views & comment

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