Jeff Bezos argues senior executives should focus on outcomes two to three years ahead, not the current quarter. He aims for three good decisions a day, noting that quarterly results were decided years earlier. Warren Buffett makes about three good decisions a year.
Three good decisions a day.
Three good decisions a year.
Sometime in 2021.
All of our senior executives operate the same way I do. They work in the future, they live in the future. None of the people who report to me should really be focused on the current quarter. I always tell people, sometimes I get, we'll have a good quarterly conference call or something and Wall street will like our quarterly results. And I'll get. People will stop me and say, congratulations on your quarter. And I say, thank you. But what I'm really thinking is that quarter was baked three years ago. Right now I'm working on a quarter that's going to reveal itself in 2021 sometime. And that's what you need to be doing. You need to be out two or three years in advance. And then why do I need to make 100 decisions today? If I make 3 good decisions a day, that's enough. And they should just be as high quality as I can make them. Warren Buffett says he's good if he makes three good decisions a year.
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