If everything you do needs to work on a three-year time horizon, then youโre competing against a lot of people, But if youโre willing to invest on a seven-year time horizon, youโre now competing against a fraction of those people, because very few companies are willing to do that. Just by lengthening the time horizon, you can engage in endeavours that you could never otherwise pursue. At Amazon we like things to work in five to seven years. Weโre willing to plant seeds, let them growโand weโre very stubborn. We say weโre stubborn on vision and flexible on details.
Jeff BezosItโs very important for entrepreneurs to be realistic. So if you believe on that first day while youโre writing the business plan that thereโs a 70 percent chance that the whole thing will fail, then that kind of relieves the pressure of self-doubt.
Jeff BezosWe were hoping to build a small profitable company; and of course, what we've done is build a large, unprofitable company.
Jeff Bezos