Jeff Bezos on Competition

October 4, 2007

I just got my most recent copy of the Harvard Business Review, and there is a lengthy interview with Amazon founder Jeff Bezos in it. Here’s what he had to say about competition:

“We don’t ignore competitors; we try to stay alert to what they are doing… But a lot of our energy and drive as a company, as a culture, comes from trying to build… customer focused strategies… I think they work better in fast-changing environments”.

I believe many companies spend too much time setting strategy against what their competitors are doing—especially in large organizations like banks. One of the things I love about FreshBooks is our proximity to our customers. Everyone on our team answers the phone, replies to e-mail and is in contact with our customers, and we make decisions and set strategies based on the close relationships we have with our community.

When people ask us about competition, from now on I’m going to direct them to this post.

about the author

Co-Founder & CEO, FreshBooks Mike is the co-founder and CEO of FreshBooks, the world’s #1 cloud accounting software for self-employed professionals. Built in 2003 after he accidentally saved over an invoice, Mike spent 3.5 years growing FreshBooks from his parents’ basement. Since then, over 10 million people have used FreshBooks to save time billing, and collect billions of dollars. A lover of the outdoors, Mike has been bitten so many times it’s rumored he’s the first human to have developed immunity to mosquitoes.