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When Jeff Bezos started Amazon in 1995, the biggest challenge he faced wasn’t just launching an online bookstore, but raising enough money to make it happen. In a time when the internet was still a mystery to most, Bezos needed to raise $1 million. Surprisingly, it wasn’t easy.
Taking 60 Meetings to Raise $1 Million
Bezos had to go through 60 meetings to secure funding, eventually convincing 22 investors to put in around $50,000 each. His challenge? Most investors had one crucial question: “What’s the internet?” Back then, many didn’t understand the potential of e-commerce. Despite the uphill battle, Bezos succeeded by offering 20% of Amazon for that initial $1 million.
A Reward for Risk-Takers
While it may seem like a great deal for the early investors, Bezos believed they deserved it for taking the risk. Those initial backers took a chance on an idea that wasn’t proven, and they were rewarded handsomely. Today, those shares are worth exponentially more, but without their belief, Amazon might never have grown into the giant it is today.
The Narrow Escape from Failure
It’s easy to see Amazon’s success today, but Bezos reminds us that it could have ended before it even began. That first $1 million was a make-or-break moment. If he hadn’t secured the funding, Amazon might have folded before even launching. But Bezos’ persistence and his ability to sell the vision of the internet helped him turn that risk into a global empire.
The Power of Taking Bold Risks
Jeff Bezos’ journey is a powerful reminder that building something great often requires overcoming daunting obstacles. Even in moments of uncertainty, persistence and a clear vision can lead to extraordinary results. By pushing through those 60 meetings and securing the necessary funding, Bezos paved the way for what would become one of the most successful companies in the world.
Listen to Jeff Bezos:
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