In episode #2694, we discuss the strategies and practices that have made Amazon a powerhouse in the business world. From their unique approach to meetings—using narratives instead of PowerPoint presentations—to their hiring practices and the Bar Raiser program, discover how Amazon's methods can be applied to your own business. Gain insights into the current state of the tech industry and the importance of investing in valuable skills. Tune in for all this and more on Marketing School.
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Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT)
TIME-STAMPED SHOW NOTES:
- (00:00) Today’s topic: How to run your company like Amazon and Why Google and Microsoft Are Laying Off People
- (01:02) Eric explains how Amazon replaced powerpoint presentations with written narratives and memos to encourage clear thinking.
- (01:32) Eric shares his experience implementing the memo-writing practice in his own company.
- (02:04) Eric gives an example of a memo he recently wrote and how it helped clarify the company's goals.
- (03:10) Eric explains the process of reading memos during meetings at Amazon.
- (04:34) Neil mentions Amazon's focus on hiring talented individuals with strong systems and processes skills.
- (06:00) Eric shares that Amazon pays most of its employees in stock and limits salaries to $160,000 to align long-term interests.
- (06:49) Eric reveals that Amazon no longer relies on traditional reference checks during the hiring process.
- (08:03) Neil discusses his company's approach to reference checks and the value of (negative feedback.
- (08:04) Reference checks can save you from making a bad hiring decision
- (09:09) Amazon's Bar Raiser program focuses on hiring people smarter than you
- (09:57) Amazon's hiring process is thorough and values-driven
- (10:33) What works for Amazon may not work for everyone
- (11:08) Azure's growth is outpacing AWS
- (11:57) Google and Microsoft may be cutting costs to increase profitability
- (12:30) Keep investing in valuable skills and providing value to succeed
- (12:51) Make a company more money to earn more money
- (13:14) That’s it for today! Don’t forget to rate, review, and subscribe!
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