||Like it? PLEASE +1 it! Thanks!|
Lesson #2: Growth Happens in Bounds and Leaps – of Faith
When Bezos first approached his boss about the idea for Amazon, his boss said, “Let’s go on a walk.” The pair went on a two-hour walk through Central Park in New York City. “You know, this actually sounds like a really good idea to me,” his boss said, “but it sounds like it would be a better idea for somebody who didn’t already have a good job.” He convinced Bezos to give the decision 48 hours of thought before doing anything drastic.
That night, Bezos went home to try and make one of the biggest decisions of his life. His wife was behind him whatever he chose to do, so the choice was one he had to make for himself. “The framework I found which made the decision incredibly easy was what I called – which only a nerd would call – a ‘regret minimization framework’,” says Bezos. “So I wanted to project myself forward to age 80 and say, ‘Okay, now I’m looking back on my life. I want to have minimized the number of regrets I have.’” Bezos knew that whatever the outcome of Amazon.com, the only thing he ever would have regretted was not even trying it. “I knew that that would haunt me every day,” he says.
And so, Bezos took a leap of faith. He knew it wasn’t going to be easy, especially since so few people during that time, including his major investors – his parents – even knew what the Internet was. In fact, Bezos claims that that “blank sheet of paper stage” at the beginning is one of the hardest stages for any company, seeing as “it’s really just you, and you can quit any time.” Bezos even told his parents that there was a 70 percent chance that they would lose their entire investment. “They did it anyway,” he recalls. Bezos’ parents were betting on their son, and so he bet on himself.
Taking that leap of faith not only required luck – or “planetary alignment” as Bezos puts it – but also a dose of realism. “It’s very important for entrepreneurs to be realistic,” he says. “So if you believe on that first day while you’re writing the business plan that there’s a 70 percent chance that the whole thing will fail, then that kind of relieves the pressure of self-doubt.”
Going in, Bezos knew that it wasn’t going to be easy, but that didn’t stop him. Today, Amazon continues that tradition of risk taking. “We are willing to go down a bunch of dark passageways,” he says, “and occasionally we find something that really works.”
Related ArticlesWhy Female Entrepreneurial Success Requires A Faith Mindse
Faith is the Driving Force Behind the Successful Internet Home Business
Steve Jobs Gives Head Job to Tim…and Says Goodbye
How A Game Of Rugby League Can Teach You To Make Your Online Business A Success.
6.5 Financing research to increase TFP: Economic Report on Africa 2007
Copy Your Way to Business Success
Prayer, Faith and Action!
Your Own Personal Stile
Faith in Marketing?
Google the Great and Powerful
Resiliency Lessons From The Chilean Mine Triumph
Time To Explore Online Business Opportunities
God's Creative Power Will work For You!
India and the U.S. remain tense about outsourcing
Are you choosing Faith or Fear
Article #46 What Do Leaders Strive Everyday For?
Advice on What Earnings to Expect after SEO Copywriting Training
Transformation Old to New or New to Old
Making a Promise to Your Business
Selling swimming pools is the same as selling what you sell
Home > Famous-Entrepreneurs > Jeff Bezos > Lesson 2 Growth Happens in Bounds and Leaps of Faith > Google +
Free PDF Download
Making it through the Jungle: How Bezos Took Amazon to the Top
By Jeff Bezos
Related Forum PostsRe: Success
Dan Kennedy Marketing Methods
It's not easy
Sports is queen!
Share this article. Fund someone's dream.
Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
By: Evan Carmichael
By: Evan Carmichael
||Like this page? PLEASE +1 it!|