A recent CNBC.com article titled “The math behind Jeff Bezos’ 8 hours of sleep—and why he says going ‘crazy’ with 4 hours isn’t worth it” caught my attention, and it should catch yours too.
What’s the preoccupation with Jeff Bezos’ sleep?
Despite his fortune dropping $1.4 Billion on Friday, he’s still worth a mere $181.5 Billion, which makes him the wealthiest person on the planet. I guess he doesn’t need to play the lottery. No wonder people are fascinated with everything he does. Perhaps, they think they can emulate his actions and build a similar fortune? Books will be written about Amazon’s secret sauce for years to come so others can learn his secrets.
But, what’s in this sleep stuff for Bezos? Because one thing we do know about him is his “relentless” pursuit of markets and market-share. In fact, “Relentless” was supposed to be Amazon’s name. Enter relentless.com into your browser and see what comes up.
So how does the “math” of sleep factor into the Bezos equation? Simple. Amazon is getting into the Sleep business in a big way. As part of their new focus on healthcare, sleep presents a significant market estimated at $85 Billion. “Halo” is their foray into the wearable and sleep market.
Once a sleep problem is diagnosed, who will get the lion’s share of the solution? With Do It Yourself (DIY) and delivered to you solutions becoming more popular, one would say “demanded,” Amazon looks to be the diagnostician, prescriber, and deliverer of the solution. Brilliant!
What does that mean to you?
Despite the recent failure of Haven, a joint healthcare venture between Jamie Dimon (JPMorgan Chase), Warren Buffett and Jeff Bezos, Amazon is relentlessly proceeding full-steam ahead into the business of healthcare. In fact, some have speculated that Haven’s failure was the result of Amazon gumming up the works.
Amazon has already given us a glimpse of their vision of healthcare with their own, internal version called Amazon Care, an app-based health service now offered to its Seattle areas employees. They have also build Amazon Pharmacy, a drug delivering business now active in 48 states.
Once Amazon sets its sight on something…watch out!
What does this all mean to YOU?
In a recent conversation with Daniel Burrus, bestselling author of The Anticipatory Organization, we discussed the issue of how currently, most business owners are so frantically working IN the business that they haven’t had the time to look up and see the dangers lurking around the corner.
He said, “Today, a business executive must believe that they are at risk of being disrupted.” He also said, “If you continue to do what you always do, you’ll wind up getting LESS of what you previously got.”
For dentists, this is the unfortunate reality. Dentistry is being disrupted, but most dentists don’t even realize it yet.
DIY, remote, and delivered to you solutions will disrupt healthcare as we know it. Even dentistry is being impacted. But most dentists with whom I speak say, “you can’t fix a cavity by telemedicine.” True, but there are many other things that you can do. You can certainly prevent cavities remotely. You don’t need to physically be in the dental office to assess risk, provide hygiene instructions, or recommend solutions.
And, as technology such as wearables and scanners become more effective and less expensive, the dental office as we know it will need to adapt to this new reality. The old adage of “you can either choose to beat ‘em or join ‘em” might be applicable.
You can’t beat what you cannot see. Hence, anticipating what’s coming is a skill that might be more important now than ever. People such as Daniel Burrus are skilled at anticipating the future. In fact, he’s skilled at teaching others how to do it as well.
That’s why I recommend that all dentists read his book, The Anticipatory Organization and consider taking his courses found HERE. If we don’t get our collective heads up from working in the business to look at the forecast, pretty soon, there might not be a business left. Or, at least not one you’ll want and enjoy.
The Chinese word for crisis is wēijī, which is composed of 2 characters meaning danger and opportunity. The current crisis presents both. Most people see the first part and fail to see the second. Some do not see either.
Another thing we spoke about was that we are currently seeing the greatest transfer of wealth the world has ever seen. As baby boomers depart their corporeal existence, their economic legacy, estimated at $60 TRILLION in the US alone, will be going somewhere.
Where will it go? What will be done with it? The answer to such questions present tremendous opportunity.
Bezos in knocking at your door, and it’s not for a Prime delivery. It’s to take away your business and make it his own. And yet, there are opportunities out there. You just have to know where to look.
To your excellent success and good fortune.
Thank Michael, Laurie, Merideth, and the PPS Team
P.S. You can watch a video I made with Dan Burrus here: VIDEO
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