We know we need to invest our efforts and capital into the future. But what to invest in?
It’s easy to get uncomfortable when thinking about planning for the future and avoid it altogether.
Jeff Bezos has a framework that helps him make decisions about the future faster.
There are many things that change fast - technology, competition, market preferences,... but instead of focusing on that, focus on what won’t change.
According to Bezos, every business has 1-3 main ideas that warrant massive investment, based on basic human nature. Those ideas will remain stable across time and any investment in them will continue to pay off for decades.
What are those 3 ideas for Amazon?
Amazon invested heavily over long periods of time into infrastructure and deals that would improve these.
If you’re procrastinating because you’re unsure about what to focus on, or about whether you really should invest your time and effort into a project area, find your 3 ideas that won’t change.
(Note: this is taken from our entrepreneur deep dive).