Revealed: ‘Smartest ever business move’ made by Amazon’s Jeff Bezos that made his career

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Mr Bezos, founder and CEO of the tech big Amazon, was the wealthiest man on the planet till final week, when rival Microsoft big Bill Gates swiftly overtook him. However, Mr Bezos’s business know-how received him to the number one spot within the first place. Most assume this success was by capitalising on the expansion of the web by Amazon, however his method to working life may also be credited. He has an estimated internet price of $108.2billion (£84.1billion) and Amazon is believed to be the world’s largest on-line gross sales firm.

In a 2019 article on Inc.com, Geoffrey James explored how Mr Bezos managed to make his workplace extra environment friendly with, what the author described as “arguable the smartest management move that he’s ever made”.

Mr James mentioned: “Jeff Bezos recently banned PowerPoint from meetings at Amazon, insisting instead that meetings start with the attendees silently reading a hard-copy document containing the information needed to discuss the issue.”

Mr Bezos asks “whoever called the meeting to prepare a one to three page briefing document” which attendees learn within the first 5 minutes of the assembly.

Jeff Bezos (Image: GETTY)

Mr Bezos with representatives from Google, Facebook, Donald Trump and Mike Pence

Mr Bezos with representatives from Google, Facebook, Donald Trump and Mike Pence (Image: GETTY)

Mr James defined: “Creating a fully-former, readable stand-alone doc calls for that you totally suppose your concepts by after which categorical your self clearly.

“This is extra work than creating an overview of bullet factors, however ensures that you talk with better precision, which is to everybody’s profit.

He added: “The downside isn’t the standard of the presentation however the truth that displaying phrases whereas talking phrases creates cognitive overload, which blurs the message.”

Mr James went on to say this “isn’t just good science; it’s also an incredibly smart financial move”.

READ MORE: Lord Sugar’s priceless response to Bill Gates over Microsoft deal

Mr Bezos has been knocked off his spot as wealthiest man in the world

Mr Bezos has been knocked off his spot as wealthiest man on the planet (Image: GETTY)

He added: “Banning PowerPoint in favour of briefing documents cost Bezos and Amazon exactly $0.00. For all practical purposes, that’s an ROI of, well, infinity.”

Mr James explored how this technique saved time too.

He mentioned: “PowerPoint communicates at the speed that the presenter talks; a briefing document communicates at the speed that the audience reads. A presentation that would take an hour (without interruptions or discussion) is condemned to merely five minutes.”

He additionally talked about how individuals who want the data however don’t have to take part “can simply read the document and skip the meeting”.

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Mr Bezos is widely regarded as an incredibly successful businessman

Mr Bezos is extensively thought to be an extremely profitable businessman (Image: GETTY)

Mr Bezos started Amazon as a large online book seller

Mr Bezos began Amazon as a big on-line e-book vendor (Image: GETTY)

“As I’ve identified beforehand, the common government spends round 50 % of their time in conferences (one third of that are completely ineffective).

“This is a big productiveness drain, above and past PowerPoints notorious capacity to cut back organisational intelligence.

“Since briefing paperwork are (no less than) twice as time-efficient as PowerPoint and furthermore are likely to remove probably the most ineffective conferences, by changing PowerPoint with briefing paperwork, Bezos successfully elevated company-wide administration productiveness by no less than 25 %.”

Mr James additionally referred to his personal experience within the subject and the way Mr Bezos’ approach measures up.

Mr Bezos and Bill Gates

Mr Bezos and Bill Gates (Image: GETTY)

He mentioned: “I’ve been researching and writing about office technology and management technique for over 20 years. There are few if any technologies or techniques that, when implemented, have anywhere near that kind of dramatically positive effect on productivity.”

Mr Bezos has been struggling a bit extra lately although. He not solely misplaced his title because the wealthiest man on the planet, however Microsoft additionally beat Amazon for a big authorities cloud contract.

He then got here beneath some heavy criticism for allegedly “failing” to maintain up with the area race between plane producers began by tycoons resembling Elon Musk.

Mr Bezos launched his personal firm, Blue Origin in the summertime, however Mr Musk’s agency SpaceX lately printed a scathing evaluate of his work claiming “he’s years behind” their developments.

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