#71 Jeff Bezos' Shareholder Letters
Founders
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Customer Obsession and Long Term Orientation
Customer obsession drives businesses to identify durable customer needs and work patiently for years to deliver solutions. This approach involves investing in lower prices and faster delivery, focusing on working backwards from customer needs which requires acquiring new competencies. In contrast, a skills-forward approach focuses on existing skills and competencies to drive business opportunities, potentially leading to a company never developing fresh skills and becoming outmoded.
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