World's richest man and Amazon CEO Jeff Bezos reveals his secrets for success

  • In an interview at the Summit Series, Amazon CEO Jeff Bezos shared some of the decisions and habits that have contributed to his success.
  • For example, he never multitasks. "If I'm reading my email I want to be reading my email," he said.
  • He said he started Amazon because he knew he'd regret not trying for the rest of his life.


Jeff Bezos is the richest person in the world. The Amazon CEO also owns The Washington Post and an aerospace company called Blue Origin.

During an interview at the Summit Series, in Los Angeles in November, Bezos divulged some of the secrets to his insane fame and fortune. TechCrunch posted tidbits from the conversation; below, we've rounded up the highlights.

9 of Jeff Bezos' top tips:

10 PHOTOS
Jeff Bezos' secrets to success
See Gallery
Jeff Bezos' secrets to success

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

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

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

Choosing the right partner

Jeff and MacKenzie Bezos have been married 24 years. They met when Bezos interviewed MacKenzie at investment management firm D.E. Shaw.

After a series of blind dates with other people, Bezos said he knew he'd found his life partner when he saw that MacKenzie was resourceful. "I wanted someone who could get me out of a third-world prison," he said at the Summit Series.

STOCK PRICE FOR AMZN

Full price information

Avoiding multitasking

“When I have dinner with friends or family, I like to be doing whatever I'm doing," Bezos said. "I don't like to multi-task. If I'm reading my email I want to be reading my email" with his full attention and energy.

Indeed, scientists say only about 2% of the population is capable of multitasking. As for the rest of us, trying to do too much at once generally backfires.

Knowing where your talents are

"I have this fantasy of being a bartender," Bezos said. "I pride myself on my craft cocktails." That said, Bezos admitted he's very slow. In his fantasy bar, there would be a sign saying, "Do you want it good or do you want it fast?"

Opting for adventure over ease

Bezos said everyone has two options for creating their "life story." Either you go for a life of "ease and comfort" or a life of "service and adventure." Bezos is clear about which is the right choice: He said you'll be prouder of living an adventurous life when you're 80 years old.

It goes back to Bezos' "regret minimization framework," which he mentioned at the Summit Series. In an oft-cited interview, which appears to have been conducted by the Academy of Achievement, Bezos described his decision to found Amazon:

"I knew that when I was 80, I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed, I wouldn't regret that.

"But I knew the one thing I might regret is not ever having tried. I knew that that would haunt me every day."

NOW WATCH: Here’s a first look at Jeff Bezos’ monster rocket factory

See Also:

SEE ALSO: A day in the life of the world's richest person, Jeff Bezos — who made $6.44 billion in one day, wakes up without an alarm, and washes dishes after dinner

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.