Asymmetric Bets: Skyrocketing Your Business with Jeff Bezos's "Two-Way Door" Strategy

According to Jeff Bezos, Founder of Amazon, there are two basic kinds of decisions you can make: (1) Irreversible decisions ("one way doors") and (2) reversible decisions ("two way doors"). Bezos says Type 1 (irreversible) decisions should be made slowly and deliberately. On the other hand, Type 2 decisions ("two way doors") should be made quickly because time is a huge cost for all of us. In this episode, I discuss the concept of asymmetric bets for ecommerce entrepreneurs. Internalize this concept to make a massive leap in your business.