The 1 belief Richard Branson, Jeff Bezos share that makes them successful

Before you go, we thought you'd like these...

The Business Behind Amazon's Culture

Amazon's Jeff Bezos and Virgin's Richard Branson both revealed the secret to their phenomenal entrepreneurial success

Amazon founder Jeff Bezos has been criticized as a ruthless, intense leader, but no one questions his visionary talents. It's humbling to see how he envisioned today's billion dollar business more than two decades ago.

Here are more of Jeff Bezos' big secrets to success:

10 PHOTOS
jeff bezos secrets to success
See Gallery
The 1 belief Richard Branson, Jeff Bezos share that makes them successful

Use your childhood passions as a starting point

Bezos' passion for science as a child fueled his ability to create, innovate and discover.

It's reported that he invented an electric alarm in his parents' garage to keep his half-siblings out of his room. 

Photo credit: Getty

Remember where you came from

Bezos used to spend his summers working on his grandfather's cattle farm. It's helped keep Bezos humble, and serves as a reminder to always work hard.

Photo credit: Getty

Be prepared for ideas to strike you at any time

Bezos wrote down his business plan on a car ride from NY to Seattle.

Photo credit: Getty

Be open to rebranding

Bezos originally wanted to call Amazon "Cadabra" but changed his mind when potential customers were mispronouncing and mishearing the name. 

Another former name, "Relentless," still redirects its URL to Amazon today.

Photo credit: Shutterstock

Adopt a unique management strategy

Bezos implements a company policy in which each employee has to spend two days after every two years at the customer service desk.

Best part? This includes Bezos himself.

Photo credit: AP

Abide by the "Two Pizza Rule"

Bezo's golden rule: In order to have a successful business venture, one should form small teams consisting of the number of people it would take to finish two pizzas.

Photo credit: Getty

Don't think that you're immune to failure

Amazon.com crashed for 40 minutes in 2013, costing the company $4.8M. 

Photo credit: Getty

Never stop expanding 

Since Amazon has launched, the company has made several million-dollar acquisitions, such as Zappos, IMDB and The Washington Post.

Bezos also founded a space travel company called Blue Origin in 2000 and is currently chairing the construction of  a 10,000 year clock in Texas.

Photo credit: Shutterstock

Train your employees for success, no matter where they go

Amazon employees leave the company skilled and ready to blaze trails of their own. Former employees include Jason Kilar (founder of Hulu and Vessel) and Charlie Cheever (founder of Quora).

Photo credit: Getty

Don't limit yourself to one specialty 

Amazon started solely as an e-book seller. The company now sells goods across over 15 categories.

Photo credit: AOL

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

In Amazon's most recent shareholder letter, the enigmatic icon took a reflective stance into the success of his business. Tech investor Chris Dixon pointed it out on Twitter. It is worth quoting in whole:

One area where I think we are especially distinctive is failure. I believe we are the best place in the world to fail (we have plenty of practice!), and failure and invention are inseparable twins. To invent you have to experiment, and if you know in advance that it's going to work, it's not an experiment. Most large organizations embrace the idea of invention, but are not willing to suffer the string of failed experiments necessary to get there. Outsized returns often come from betting against conventional wisdom, and conventional wisdom is usually right. Given a ten percent chance of a 100 times payoff, you should take that bet every time. But you're still going to be wrong nine times out of ten. We all know that if you swing for the fences, you're going to strike out a lot, but you're also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in a while, when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it's important to be bold. Big winners pay for so many experiments.

It's a pattern you see among the strongest entrepreneurs today. Here's a classic post from Richard Branson titled How to Fail Successfully, particularly poignant with the recent Virgin Airlines sale:

Failure is never easy, but it's an inevitable part of every personal and business journey. It's important to realise this. Most, if not all, of the world's finest minds, innovators and game-changers have failed at some point. However the reason that they eventually succeeded was because they didn't let their failings deter them.

Fear of failure can be crippling. It can leave people never wanting to try new things, explore opportunities or desire better circumstances. But it shouldn't be. As the Vinod Khosla quote goes: "No failure means no risk, which means nothing new." What a boring and dismal way to live and do business. Taking risks is meant to feel scary, but overcoming this fear is our only ticket to experiencing new and exciting things. We should all learn to embrace it rather than fear it. It is one of our greatest learning tools.

It comes down to two actions: Letting your curiosity and passion of discovery outweigh your fear of failure and embracing your failures as another step towards the knowledge you need to succeed. According to these entrepreneurs, this is where you should begin.

How ready are you to fail today?

RELATED: The highest rated CEOs

50 PHOTOS
Highest Rated CEOs
See Gallery
The 1 belief Richard Branson, Jeff Bezos share that makes them successful

Company: Google

Approval rating: 97%

Company: Nike

Approval rating: 97%

Company: H E B

Approval rating: 96%

Company: Facebook

Approval rating: 95%

Company: Ultimate Software

Approval rating: 95%

Company: Monsanto Company

Approval rating: 95%

Company: Goldman Sachs

Approval rating: 95%

Company: Northwestern Mutual

Approval rating: 95%

Company: Insight Global

Approval rating: 94%

Company: Apple

Approval rating: 94%

Company: Expedia

Approval rating: 97%

Company: LinkedIn

Approval rating: 93%

Company: Costco Wholesale

Approval rating: 93%

Company: T-Mobile

Approval rating: 93%

Company: Edward Jones

Approval rating: 93%

Company: Chevron

Approval rating: 93%

Company: Sephora

Approval rating: 93%

Company: EY

Approval rating: 93%

Company: Procter & Gamble

Approval rating: 92%

Company: SolarCity

Approval rating: 92%

(Rive pictured right, with Elon Musk and brother Peter Rive)

Company: Salesforce

Approval rating: 92%

Company: Yelp

Approval rating: 91%

Company: Paychex

Approval rating: 91%

Company: Medtronic

Approval rating: 91%

Company: Power Home Remodeling Group

Approval rating: 91%

Company: J. Crew

Approval rating: 91%

Company: Johnson & Johnson

Approval rating: 91%

Company: Wegmans Food Markets

Approval rating: 91%

Company: Nordstrom

Approval rating: 91%

Company: FedEx

Approval rating: 91%

Company: Starbucks

Approval rating: 91%

Company: KPMG US

Approval rating: 91%

Company: Cognizant Technology Solutions

Approval rating: 91%

Company: CDW

Approval rating: 91%

Company: Infosys

Approval rating: 91%

Company: Intuit

Approval rating: 91%

Company: Walt Disney Company

Approval rating: 90%

Company: Vanguard

Approval rating: 90%

Company: Intel Corporation

Approval rating: 90%

Company: Protiviti

Approval rating: 90%

Company: Cummins

Approval rating: 90%

Company: Total Quality Logistics

Approval rating: 90%

Company: Stryker

Approval rating: 89%

Company: Quicken Loans

Approval rating: 89%

Company: Slalom Consulting

Approval rating: 89%

Company: Sherwin-Williams

Approval rating: 89%

Company: Adobe

Approval rating: 89%

Company: Airbnb

Approval rating: 89%

Company: Delta Airlines

Approval rating: 88%

Company: Marriott

Approval rating: 88%

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

More from Inc.com:
How Improvement Can Actually Hurt Your Business
The Ultimate Steve Jobs Quote for Taking Strong, Decisive Action
Elon Musk's Surprisingly Simple Secret to Success

Read Full Story

People are Reading