Amazon CEO and billionaire Jeff Bezos knows what it takes to be successful.
Bezos says the key mindset is thinking long-term, which requires patience. He says he's used this approach repeatedly at Amazon.
"What we're really focused on is thinking long-term, putting the customer at the center of our universe and inventing," Bezos says in an interview with Four Peaks TV. "Those are the three big ideas to think long-term because a lot of invention doesn't work."
When you're first creating something, whether it's a new business or a product, you have to invent, says Bezos. "If you're going to invent, it means you're going to experiment, and you'll have to think long-term," he adds.
It can admittedly be difficult to think long-term and stay the course without panicking when things don't go your way. Bezos offers this advice: Be straightforward and clear about how you're going to operate and what you want to get done from the beginning.
Bezos says you should also stick to your guns. "[At Amazon] we don't even take a position on whether our way is the right way," he says, "we just claim it's our way."