Achi news desk-
Having trouble making financial decisions? These money tips from the founder of Amazon could help
Jeff Bezos, the founder of Amazon and one of the world’s richest men and most successful entrepreneurs, once offered valuable insights on wealth creation and management.
Here are five top money lessons from Bezos that will help you make personal financial decisions.
Investments are like planting seeds
The 60-year-old owner of the Washington Post thinks that new investments, such as stock market investments or businesses, are like seeds that are planted and need the right conditions and time to grow and flourish.
Proper research and due diligence can increase wealth significantly, but patience is key. Steep returns cannot be expected overnight after harvest.
Failure is feedback
Bezos emphasizes that making the right investments and financial decisions is not always easy, and it is essential to experience a few stumbles in order to achieve success.
Although not every decision will be perfect, learning from failures can help inform future plans and goals.
Cash flow is critical
The tech billionaire has emphasized the importance of monitoring cash flow as he determines the value of future investments and savings.
The more money generated, the more you can invest or save.
Boosting cash flow increases the long-term value of future investments.
Identifying a ‘dream business’
The CEO of Blue Origin believes that one must know how to identify a “dream business” which, according to him, has four key characteristics.
It should have a group of loyal customers who appreciate its product or services and the potential to increase and grow significantly.
It should promise high returns on capital investments and should have real, long-term potential.
Take risks
Bezos also believes that people’s regrets are usually about missed opportunities or things left undone, and you rarely regret something you tried but it didn’t work out.
Failure leads to lessons learned, not regrets.
Bezos believes that it is better to follow your goals, your hopes and your dreams rather than live with the regret of not taking action and wondering, “What if?”
