Think about how much we all love to quote stories of success—our best friend who accomplished something, the person we know who knows a person that won the lottery, or even of Amazon and Apple?
What we tend to forget, or are not conscious of, are the tough times these warriors went through to get the gold.
Speaking specifically of the business giants Bezos & Jobs, these “Business Maestros” accumulated significant debt—that’s the unpopular part of their journey.
Jeff Bezos (Amazon) risked family and financial ruin. He was, by all appearances at the time, at a disadvantage. In the early '90s, only the government, Wall Street, brave news outlets, or email users knew about the Internet.
E-commerce was yet to be seen on a large scale. Though Amazon wasn’t the first e-commerce site, it is by every definition the most memorable.
With every odd stacked against him, Bezos asked friends and family to invest in him. He asked his parents and they did. He took the $250K loan from them even though the odds were a 70% chance his parents would not see their return. One of his driving passions was, as he said, “I want to come home at dinner for Thanksgiving and I don’t want you to be mad at me.” His determination and passion translated into his willingness to take the risk.
Steve Jobs alongside Steve Wozniak (Apple) gave it all.
In '76, Jobs sold his VW for $1,500, and Wozniak sold his Hewlett-Packard calculator for $500, and they launched Apple, working out of Jobs’ parents' garage. He certainly embodied his mantra “think different”.
Jobs had a difficult and initially looked like a failure fight to get back into his “brainchild” company in '97. When he resumed control and brought Apple out of near bankruptcy, if not for his passion and determination in the face of large obstacles, we wouldn’t have Mac as we know it today, iTunes, Apple Music, and so much more.
There is no reward without risk or often failure.
For Bezos, his parents did see their ROI 100x over (that is if they held onto all their shares), but most importantly for Bezos, he doesn’t have to face Thanksgivings fraught with anger!
Jobs, although his career had a successful decade detour into the movie industry, before he fought his way back to the head of Apple. He could have given up and walked away, but his determination wouldn’t allow him to. He gave it all, and he undoubtedly was going to see this through. He changed the world.
The lesson for us here? Don’t shy away from taking calculated risks for a bigger future payoff. The risks these financial tycoons took were huge.
1. Know Your Risk: Just like Jeff Bezos and Steve Jobs, don't shy away from taking risks that have the potential for an unimaginable future payoff. However, don’t go in blindly; assess the potential downsides, ask for advice from successful entrepreneurs. With all of that, don’t forget to never lose focus on the long-term benefits and opportunities that might arise. Be prepared to step out of your comfort zone and embrace uncertainty to achieve your goals. This is that beautiful but frustrating catch-22 situation. You NEED both.
2. Wisdom Is in Asking: Bezos asked friends and family to invest in his vision, and Jobs partnered with Wozniak; they allowed others' strengths and knowledge to give them a leg up. This is only a benefit to you if you surround yourself with individuals experienced in finance, business strategy, or mental support. These “wise ones” don’t just appear in your life out of thin air; you need to find them and choose them wisely. Let them help you navigate challenging times and remind you why you committed to your goals.
3. Keep Passion and Determination Alive: Both Bezos and Jobs demonstrated relentless passion and determination; when faced with Goliath-level obstacles, they wavered but didn’t quit. They came right back and tried again! Bezos & Jobs had a deep sense of purpose and focused vision; it left them unwavering in their commitment. They succeeded in situations that break most people!
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