Jeff Bezos Tells Shareholders 'High Standards Are Fun! Once You've Tasted High Standards, There's No Going Back'

Few people have more influence on corporate culture and strategic innovation than Amazon.com Inc. Founder Jeff Bezos. His annual letters to shareholders are a source of insight and a blueprint for organizational success. 

The 2017 edition is notable for its earnest dive into the essence of building a culture rooted in high standards, encapsulating a blend of self-improvement, strategic thinking and culture-building.

Bezos begins his discourse with an ode to the insatiable nature of customers whose high expectations form a ladder of standards organizations must climb. 

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"One thing I love about customers is that they are divinely discontent. Their expectations are never static — they go up," Bezos wrote. 

The driving question then becomes: How does a company stay ahead of this curve? According to Bezos, a blend of many elements contributes to this, with high standards playing a pivotal role. The standards, he emphasizes, should permeate all levels and details of the organization.

Central to the narrative is the dissection of high standards into two fundamental questions: Are they intrinsic or teachable? And are they universal or domain-specific? Through a lucid examination, Bezos concludes that high standards are indeed teachable and contagious. 

"High standards are contagious. Bring a new person onto a high-standards team, and they'll quickly adapt," he wrote. However, these standards are domain-specific, requiring a separate learning curve in each arena of interest.

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Bezos then delves into a three-step blueprint for achieving high standards in a particular domain. The first step is the recognition of what "good" looks like in that domain, followed by an understanding of the scope — having realistic expectations regarding the effort required to reach that good. He cautioned against the unrealistic beliefs on scope that often impede the attainment of high standards. The third step revolves around skill, which, while important, is not as crucial as recognizing high standards and teaching realistic expectations on scope.

Amazon's unconventional approach of shunning PowerPoint presentations in favor of narratively structured six-page memos is worth mentioning. The practice underscores the importance of scope and the time it takes to draft a memo that meets high standards. 

"The great memos are written and rewritten, shared with colleagues who are asked to improve the work, set aside for a couple of days and then edited again with a fresh mind. They simply can't be done in a day or two," Bezos wrote.

The benefits of high standards extend beyond superior products and services. They are a magnet for talent, improve retention and shield the invaluable yet unseen work that occurs within every company. But perhaps the most compelling benefit, as Bezos put it, is the joy derived from high standards. 

"High standards are fun! Once you've tasted high standards, there's no going back," he said.

Through a blend of insightful examination and tangible steps, Bezos provides a roadmap for companies striving for high standards. This ethos is not just for established giants like Amazon but is equally pertinent to startups at the cusp of innovation and growth. When investors are on the lookout for startups to invest in, the principle of high standards could serve as a reliable indicator of a startup's commitment to excellence and its potential for long-term success.

High standards at a startup signify a dedication to superior product or service quality, a responsive attitude toward customer feedback and an ongoing endeavor for improvement — all indicators of a promising venture. A culture of high standards can attract top talent, which can propel the startup toward growth and innovation.

Platforms like StartEngine play a significant role in connecting investors with a variety of startups, offering a space where the principles of high standards can be recognized and valued. 

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