Amazon founder Jeff Bezos is offering advice about the uncertainty of the economy to small businesses and families. Bezos gave an exclusive interview with CNN. To save you some time, here are some key takeaways from a conversation with a billionaire that could give you insight into your entrepreneurship journey.
Reduce your risks
The first lesson from Bezos is learning when to scale it back. Bezos recently tweeted the comment, ” batten down the hatches.’ He is now explaining that the tweet was a message to business owners and consumers ahead of a recession. The expression means families and businesses should hold off making major purchases for a while. The Amazon founder says reducing financial risks could make a difference for small businesses. Bezos made it clear that he is not an expert on recession and does not know for sure if or when we will be in a recession, but it’s better to be proactive than counteractive.
Do not use conflict for personal gain
The second small gem Bezos dropped during his interview with CNN is more of an opinion than advice. Bezos does not like the technique of playing dirty to gain wealth. He says right there is a lot of division. Bezos says he believes people are using conflict to achieve personal gains and does not think it’s a good tool.
Unity is the tool to solve the world’s issues
The logic of using conflict to gain wealth is part of the reason Bezos recently gave a $100 million grant to country music star Dolly Parton. Bezos and his partner believe Parton gives light to people and think she will continue to do great work with her numerous charities. He says Parton is just one of the recipients of his “Courage and Civility Award. The couple says they can unify people to solve large challenges through the program. Bezos believes unity is the trait that will help confront more significant issues such as climate change.
Bezos is a man who has created generational wealth for sure. During his interview, he’s doing something only a few billionaires have pledged to do. Bezos says he’s decided to give most of his money away. The hard part now is deciding how to give it away.
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