Find a Clear Vision and Stick With It

Six years ago, when Amazon was just getting off the ground, CEO Jeff Bezos was widely criticized for taking on $2.8 billion in debt to make Amazon’s user interface “intuitive to the point of being completely natural.” Once the interface was up and running, investors started “calling for Bezos’ head” for his “unorthodox approach of favoring revenue growth over profit margin.” Bezos can now say, “I told you so.” By passing up short-term profits, he has built a large and loyal customer base. And thanks to customers’ steady purchases, Amazon will soon be virtually debt-free. By no coincidence, Amazon shares are up 26 percent this year. The company’s showing in the worst economy in 75 years offers “an important lesson for tech companies”: Find a clear vision and stick with it. “It’s a very hard road to take. But at least it’s simple.”

Kevin Kelleher
CNNmoney.com