Wealth Management

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Showing posts with label high net worth. Show all posts
Showing posts with label high net worth. Show all posts

August 13, 2018

5 lessons can we learn from Bezos’s rise to become the richest man

Interesting to learn that Amazon founder Jeff Bezos will become the world’s richest person this year, or next. After yet another fantastic report of results, and yet another boost in the company’s share price, Bezos is $5 billion away from the Microsoft founder Bill Gates and likely to overtake him soon.
From my view, I remember when Amazon was just starting and seemed an interesting but not a sure thing on the stock market. I sold my Amazon for AOL back in 1999. I was wrong! 
To learn that Bezos is now passing Bill Gates means that there are lessons to learn and Bezos shares his views. I am interested in how the title of richest person (that is tracked and legitimate) sets a role model for entrepreneurs and business leaders around the world.
After all, if making more money than anyone else doesn’t tell you they are doing something right, it is hard to know what might. 
So what lessons can we learn from Bezos’s rise to the top of the pile? In brief: That you should 
  1. Think big, 
  2. Innovate furiously, 
  3. Ignore failures, 
  4. Forget about obsessing over profits, and 
  5. Avoid major acquisitions. 

Those are 5 pretty good guidelines for any business heading into the 2020s. 
In the past five years, Amazon’s share price has more than quadrupled, rising from US$220 to more than $US900 as the company powers into new industries and markets. He has already overtaken Warren Buffett and Amancio Ortega, the Spanish founder of Zara owner Inditex, to become the world’s second richest. 
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Jacoline Loewen, MBA, ICD.D, is a best selling author and expert in Wealth Management. She is Canada’s leading wealth, legacy, founder and family business finance expert. Ms. Loewen's clients are entrepreneurs who transition from focus on business to managing their money. She helps overcome common wealth creation issues while optimizing investments in order to manage and nurture significant wealth with confidence.